Senior Housing News July 18, 2024
National Church Residences has acquired an affordable senior housing highrise in Atlanta, expanding its portfolio in the metro area.
On Thursday the organization announced it had acquired from the Episcopal Cathedral of St. Philip a 99-year ground lease interest on a community formerly known as Cathedral Towers. The 14-story apartment building was built in 1979 and has 195 units.
Following the acquisition, National Church Residences plans to begin “modest improvements,” including accessibility enhancements for older adults with disabilities and sidewalk and parking lot improvements.
The acquisition expands National Church Residences’ affordable senior housing portfolio to 17 communities in the Atlanta metro area, making it the second largest-affordable senior housing owner in the city.
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