National Church Residences recently expanded its affordable senior housing portfolio in Atlanta with the acquisition of a high-rise building. The organization obtained a 99-year ground lease interest from the Episcopal Cathedral of St. Philip for the 14-story Cathedral Towers, which features 195 units built in 1979.
Plans are underway for modest improvements, including making the community more accessible for older adults with disabilities and enhancing sidewalks and parking lots. This acquisition brings the total number of National Church Residences’ affordable senior housing communities in the Atlanta metro area to 17, solidifying its position as the second largest owner of such properties in the city.
Daniel Patrick, Senior Director of Acquisitions at National Church Residences, highlighted the organization’s commitment to upholding the community’s care tradition and preparing for future renovations. The acquisition aligns with the nonprofit’s growth strategy to expand its affordable housing presence nationwide.
President and CEO Susan DiMickele noted that this acquisition is part of National Church Residences’ increasing presence in Atlanta, as well as in other states like Texas, Florida, Ohio, North Carolina, and Michigan. The organization’s dedication to providing affordable senior housing remains steadfast as it continues to grow and serve communities across the country.
