Washington, D.C. — Standard Communities, the affordable housing division of Standard Property Company, is pleased to announce the acquisition of Arrowhead Apartments in Asheville, North Carolina. The property includes 116 apartments homes, all of which will now continue to provide affordable housing to low-income residents, with an emphasis on providing homes for seniors. Residents will also benefit from an on-site service coordinator, who will support the primarily senior residents in efforts to remain socially active and connected to the broader Asheville community.
“The Asheville market has seen tremendous growth in this market cycle, creating a vibrant, though oftentimes expensive, metropolitan area. We are excited to provide low-income residents, most of whom are seniors at Arrowhead, an opportunity to continue living in such a strong community without worry of increased housing costs,” said Standard Communities Co-Founder Scott Alter.
Arrowhead Apartments features studio and 1-bedroom apartments, as well as a community room, library, computer lab, and community garden for residents to use.
