Wawanesa offering $200,000 in grants to support projects that reduce the impacts of extreme weather
156-unit senior community will undergo major upgrades to preserve affordability and enhance resident amenities
Tanner Terrace Apartments Community Preservation Partners (CPP), a mission-driven affordable housing preservation developer, has announced the planned renovation of Tanner Terrace Apartments, a senior housing community located in Glendale, Arizona. The project will preserve 156 units of affordable housing for low-income seniors and marks a continued investment by CPP in the Phoenix metro area. GLENDALE, Ariz., Aug. 05, 2025 (GLOBE NEWSWIRE) — Community Preservation Partners (CPP), a mission-driven affordable housing preservation developer, has announced the planned renovation of Tanner Terrace Apartments, a senior housing community located in Glendale, Arizona. The project will preserve 156 units of affordable housing for low-income seniors and marks a continued investment by CPP in the Phoenix metro area. Located at 7138 North 45th Avenue, Tanner Terrace was originally built in 1980 and serves residents ages 62 and older. The property includes three elevator-served buildings and a rich array of on-site amenities such as a community room, library, computer lab, game room, picnic area, and garden greenhouse. Currently 98% occupied and supported through a Section 8 Housing Assistance Payments (HAP) contract, the property will undergo a transformative rehabilitation designed to modernize the living experience while maintaining long-term affordability. “This renovation reflects CPP’s commitment to preserving housing that meets the unique needs of older adults and the Glendale community,” said John Fraser, Vice President – Development at CPP. “Tanner Terrace is already a well-loved community, and we’re proud to deliver improvements that promote dignity, independence, and quality of life for our senior residents.” Planned improvements include a new exercise room, bocce ball court, putting green, bike storage, upgraded security systems, LED lighting, and modern appliances. Additionally, microwaves will be introduced as a new amenity in all units, while enhancements to plumbing and HVAC systems will further elevate resident comfort. With occupancy consistently above 95% and a growing waitlist, Tanner Terrace stands as a critical pillar of affordable housing for seniors in Maricopa County. The renovation will strengthen Tanner Terrace’s ability to serve this population – preserving affordability while elevating quality of life for current and future residents. “Tanner Terrace has long been a vital resource for seniors in Glendale, and this renovation ensures it will remain that way for decades to come,” said Philip Choi, Development Manager at CPP. “Our goal is to preserve the affordability residents rely on while enhancing the spaces they call home – from improved safety and accessibility features to new amenities that promote health, wellness, and community.” To support the rehabilitation, the project is being financed through 4% Low-Income Housing Tax Credits (LIHTC) and tax-exempt bonds issued by the Arizona Industrial Development Authority (AZIDA). CPP serves as the sole developer and owner. U.S. Bank is acting as both the equity partner and construction lender, with Citibank providing permanent financing. About Community Preservation Partners In 2004, Community Preservation Partners was established by their parent company, WNC & Associates, a national investor in affordable housing and community renewal initiatives. Since then, CPP has successfully acquired, developed, and rehabilitated more than 15,000 affordable multifamily and senior housing units nationwide. From the very beginning, they’ve done things differently. As more than a consultant or an investor, CPP is a true partner in every sense. By joining leading nonprofits and strategic partners, they can provide essential social services to residents, support neighborhood initiatives and transform multifamily affordable housing communities. Creativity, Performance, and Purpose are their core values and embody everything they do. Together they define A Different Way to Home for their excellent employees, partners, and communities. To learn more, visit: https://www.cpp-housing.com/. MEDIA CONTACT IDEA HALL Andy Vernier [email protected] A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e83cdccb-36fa-457e-9fb3-8105dd62c5e2
Get the latest news
delivered to your inbox Sign up for The Manila Times newsletters By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy.
