Full article available (for subscribers) by Ben van der Meer at Sacramento Business Journal
Coloma Woods in Rancho Cordova could’ve gone from affordable senior housing to market rate, before an Irvine-based company stepped in.
Community Preservation Partners, which specializes in affordable housing preservation, is in the midst of rehabbing the 29-unit property after buying it late last year.
“We’ve come across several deals where we’re competing with a market-rate buyer,” said Karen Buckland, vice president of development with CPP. “And a lot of sellers don’t want to see their residents displaced.”