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Acquisition and Renovation
Renovating properties threatened with conversion to market rental or luxury housing with new systems and structures.
Renovating properties threatened with conversion to market rental or luxury housing with new systems and structures.
Boston, MA
The Kenmore Abbey Apartments is a 199-unit senior rental community in the Fenway neighborhood of Boston, located steps away from Fenway Park. The historic property was constructed as a hotel in the late 1890s and was converted to its current use in 1984. Kenmore Abbey comprises two brownstone buildings that are architecturally significant and are connected by a footbridge between their second floors. Kenmore Abbey is a 100% senior Section 8 property with a very strong waiting list for occupancy.
Salem, MA
POAH began renovations in June 2021 and in 2023 completed a $40M renovation that drastically increased interior air quality and energy efficiency of the building, bringing it close to Passive House standards.
Chicago, IL
Westport, MA
Westport Village is a 48-unit senior building originally constructed in 2005 that currently operates under the federal Section 42 Low Income Housing Tax Credit (LIHTC) program. POAH will extend the Project Based Voucher contract (PBV) covering 12 apartments that was set to expire in 2025.
Raleigh, NC
Biltmore Hills is a 50-unit apartment complex situated on 7.16 acres at 2227 Garner Road in Raleigh, NC.
The property, which is currently in its 30-year affordable housing compliance period, faced the risk of redevelopment or conversion to market-rate housing upon expiration of the compliance period. The seller embraced the opportunity to find an affordable housing buyer focused on preservation of the existing units. POAH's purchase ensures that the residents will have continued access to affordable housing options well into the future.
Lynn, MA
Olympia Square Apartments is a 44-unit, 100% Section 8, fully occupied senior property in Lynn, MA - just north of Boston. Formerly known as the Sweetser Block, the building was constructed in 1874 and originally housed a shoe manufacturing operation. The property was converted to apartments during the early 1980s, and has two ground-floor commercial tenants.
Chicago, IL
Originally built in 1926, the Austin Renaissance is a 71 unit family property located in the Austin neighborhood on the west side of Chicago.The property is made up of two, 4-story brick courtyard buildings with walk up units and is 100% project-based Section 8. These buildings are located near multiple CTA Green Line stations and within walking distance of Columbus Park.
As part of POAH's acquisition, a Community Impact Coordinator has been assigned to the building, to support residents with accessing resources.
Chicago, IL
Jackson Park Terrace is a 318 unit complex made up of over twenty low-rise buildings and one high-rise, across from Jackson Park. Located only half a mile from Island Terrace Apartments, another POAH property, it was originally built by the Woodlawn Community Development Corp., one of the country's first community development corporations.
Florida City, FL
Southpoint Crossing is a 122-unit family rental housing community located in Florida City, FL, a suburb of Miami and neighboring Homestead, known as the Gateway to the Florida Keys.
Made up of one-, two-, and three-bedroom apartments spread over 10 two-story buildings, Southpoint Crossing has a number of on-site amenities, including a community building, on-site laundry, playground, and a computer lab.
Southpoint Crossing is located on accessible public transit lines and is a short distance from shopping centers and service providers.