Trinity Towers South
POAH acquired Trinity Towers South, a 162 unit, 4 story, mid-rise property that serves seniors in Melbourne, FL, in 2013 from the Holy Trinity Episcopal Church. Built in 1981, Trinity Towers South was financed with a HUD 223(f) insured loan at the time. Acquisition financing was based on an assumption of this existing FHA insured 223(f) loan. Trinity Towers South serves frail seniors; the property was developed as a Section 202/8 property with extensive amenities usually associated with congregate living facilities including a central kitchen that provides meals for the residents. Resident services will continue to be a major feature of the property into the future.
POAH intends to undertake a thorough rehabilitation of the properties in the future through use of Florida's tax credit program.