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Community Preservation Partners Begins $85 Mil Apartment Rehabilitation in Lancaster

8/31/20

Village Pointe Apartments, a 210-unit affordable housing project in Lancaster, is undergoing a $31 mil renovation by national affordable housing rehabilitation firm Community Preservation Partners (CPP). First built in 1983, the property was recently purchased by CPP from a California limited partnership for $54.35 mil. The deal will extend affordable housing protection for the complex until 2056.

Major improvements during the rehabilitation will include:

• New cabinets, countertops and flooring for individual units
• New plumbing fixtures and bathroom accessories
• New Energy Starฎ appliances
• New roofing
• New security system
• Improved rec, computer and laundry rooms
• New entry gate and fencing for the community rose garden
• New light fixtures and handrails, stucco repairs and fresh paint on building exterior

In addition to these upgrades, the property is designed to achieve Enterprise Green Communities certification for climate-resilient, zero-emission healthy affordable housing, which will include the installation of an all-new, environmentally friendly wastewater system.

Construction has already begun on the property and is expected to finish in early 2021. Residents living in ADA units will be temporarily relocated to a hotel for 30 days during construction. Other residents will be provided dedicated hospitality and bathroom areas from 8 to 5 p.m. and will be able to return to their units at night. All necessary COVID-19 precautions will be taken to protect residents throughout construction.

Financial partners on this project include Citibank and Affordable Housing Access.




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