The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
August 22, 2019
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



TEXAS/SOUTHWEST NEWS
Printer-friendly Version   Email an Associate
Community Preservation Partners Rehabilitates Two Affordable Housing Projects Totaling 98 Units in Ogden, UT

7/18/19

Community Preservation Partners (CPP) has completed a $14.3 mil rehabilitation of two affordable living communities in Ogden, UT. The work covered 98 multifamily units at the 58-unit Normandie Apartments and the 40-unit Osmond Heights, wrapping up the company’s first projects in the state.

Renovations spanned roughly a year of construction. Despite the scope of the project, most residents only had to be relocated for two nights at the company’s expense.

CPP helped to preserve the affordability of all 98 units by combining a 20-year renewal on 54 existing project-based Section 8 vouchers with an unorthodox reallocation of 44 vouchers from another property outside the city. The owner of the outside property had planned to let the vouchers expire within months, but by working with the U.S. Department of Housing and Urban Development, CPP was able to transfer the vouchers to Normandie Apartments and Osmond Heights, shoring up affordability throughout both properties for 20 years. Nearly half the units would have been restricted to households making 60% of the area’s median income or less without CPP’s considerable efforts.

CPP also skillfully navigated a challenge from nature. A creek flowing through the Normandie property had badly eroded a critical retaining wall, which now has been repaired, and both

The properties have received the following upgrades:

• Full kitchen renovation, including new appliances, cabinets, countertops and flooring
• Updated bathrooms
• New carpeting throughout units and common areas
• American with Disabilities Act accessibility improvements throughout exterior spaces
• Improved outdoor spaces, including new parking lot pavement and landscaping
• Installation of new outdoor playground equipment
• Remodeled laundry rooms and management offices

CPP’s parent company, WNC & Associates, was the lead investor on the project, which included a loan from California Bank & Trust.




Return to the previous page


 
 


 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media