Housing Preservation Inc., based in Memphis, Tennessee, has purchased Bet Shalom, a Jewish senior living community of 95 units in Worcester. The affordable housing building is on Chandler Street.
Housing Preservation acquires and preserves affordable housing communities that were developed originally by the Department of Housing and Urban Development of the United States. This is its first property in Massachusetts, although it owns over 70 properties in 22 states.
The building is five stories high and has apartments with one bedroom and rents based on income at 20 percent of adjusted income. It is on a parcel that spans 2.6 acres and was built in 1982.
Worcester Jewish Community Housing for the Elderly Inc. sold the property which now enables the organization to have $13 million to create a foundation focused on meeting seniors’ needs in Worcester County.
News of such sales and their benefits for a community are often made known with flyer printing.
A board member of Bet Shalom, Steve Sosnoff, said that Housing Preservation is committed to caring for the residents of Bet Shalom in addition to being good neighbors and offering all employees continued employment. He added that the building is in excellent shape, the residents receive outstanding care, and the operation is an asset to Worcester and the neighborhood. He said that Barkan Management and the board are proud to represent the community as a source for affordable housing.
