CPP Acquires 117-Unit Lake Forest Apartments in Gainesville, Georgia

• Community Preservation Partners acquired Lake Forest Apartments, a 117-unit affordable housing community in Gainesville, Georgia, for planned rehabilitation.
• Hard construction costs total approximately $7.5 million, or roughly $65,000 per unit.
• The rehabilitation is financed with Low Income Housing Tax Credits, with construction expected to finish by October 2027.
• Following rehabilitation, the property will be rent- and income-restricted at 60% of area median income.
• All 117 units will retain Project-Based Section 8 Housing Assistance Payments contracts, keeping tenants’ rent payments at 30% of income.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Community Preservation Partners LLC published the original content used to generate this news brief on November 02, 2026, and is solely responsible for the information contained therein.