National Church Residences Acquires Atlanta Highrise, Expanding Affordable Senior Housing Footprint

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.

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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.

“We want to bring our expertise to continue the tradition of care that the community has enjoyed and the experience to perform future renovations that the community will require,” Daniel Patrick, National Church Residences senior director of acquisitions, told Senior Housing News.

Patrick added the acquisition also fits into the nonprofit’s overall growth strategy of expanding its affordable housing footprint across the country.

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“The acquisition of Parish Grove is part of National Church Residences’ growing presence in Atlanta,” Susan DiMickele, president and CEO of National Church Residences said in a press release.

National Church Residences is in the process of also growing in Texas, Florida, Ohio, North Carolina, Georgia and Michigan as well.

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