CDP Expands West Coast Portfolio
The company has acquired three affordable communities in Las Vegas and Salem, Ore.
Las Vegas and Portland, Ore.—Community Development Partners ( CDP) is closing three new affordable, multifamily properties: Baltimore Gardens and Cleveland Gardens in Las Vegas and Viking Village in Salem, Ore.
Baltimore Gardens, located at 316 W. Baltimore Ave., and Cleveland Gardens at 311 Cleveland Ave., consist of 201 units throughout 21 buildings. The company teamed up with BLVD Capital and designer Integrated Design & Architecture to renovate the unit interiors and building systems to improve energy efficiency and security.
Viking Village is a ten-building asset constructed in 1969 and comprises 97 units located at 3402-3570 NE Fairhaven Ave. Community Development Partners is planning to construct a new community building and garden and an education center. Renovations are designed by Waechter Architecture, constructed by LMC, with property management by Cascade. The rehabilitation will include unit interior and building systems upgrades.
“The acquisition of these projects in key markets ideally suits our mission-driven strategy of executing projects where we can provide a profound transformation for the residents and surrounding communities,” Eric Paine, CEO of Community Development Partners.
Image courtesy of Yardi Matrix