Retirement Housing Foundation And Schochet Associates Complete Acquisition Of Hartford Affordable Housing Complex
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- by Site Admin |
- December 30, 2010 |
- Schochet Press Releases |
Retirement Housing Foundation and Schochet Associates, Inc. today announced that they have completed the $39 million acquisition of 373 apartments located in Hartford, CT. The project, originally constructed in the early 1900s as the House of the Good Shepherd, was painstakingly rehabilitated and converted to affordable apartments for seniors in 1980.
Retirement Housing Foundation and Schochet Associates, Inc. today announced that they have completed the $39 million acquisition of 373 apartments located in Hartford, CT. The project, originally constructed in the early 1900s as the House of the Good Shepherd, was painstakingly rehabilitated and converted to affordable apartments for seniors in 1980. Shepherd Park sits on a self contained pastoral campus in Hartford's West End, just east of the West Hartford town line, and provides excellent access to local and regional highways, local services, and downtown Hartford. On site parking is available for 226 cars.
Residents of Shepherd Park Apartments enjoy a wide range of services and amenities including organized exercise, swimming, sewing, and dance classes; summer cookouts; delivery of essential groceries; as well as a hair dresser and nursing clinic. A full time resident services coordinator works with residents to provide access to individual home care services, light housekeeping, medical appointment companion, and laundry services as well as daily delivered meals through Meals on Wheels.
The project is subsidized by the United States Department of Housing and Urban Development (HUD) under the federal Section 8 program and will benefit from federal tax credits which will be used to upgrade building systems, replace windows, and refurbish common areas and apartments. Federal Management Co., Inc., an affiliate of Schochet Associates, Inc., will serve as property manager.
About Retirement Housing Foundation
Retirement Housing Foundation (RHF) is a non-profit organization of 157 communities in 24 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands which provides housing and services to more than 16,000 older adults, economically disadvantaged families and people with disabilities.
About Schochet Associates, Inc.
Schochet Associates, Inc. is a full service real estate development and management company founded by Jay R. Schochet in 1973. Since that time the company has developed, owned, and/or managed in excess of 7,000 apartments and over 600,000 square feet of retail and commercial space throughout New England and on the West Coast. Today, Schochet Associates owns and/or manages over 4,000 apartments and 275,000 square feet of commercial space throughout New England. Headquartered in Boston, MA, the company has regional offices in Newport, RI, and Portland, ME, and employs over 130 people.