Wadleigh Falls Road Senior Residences

In 2022 we acquired the 57 unit Wadleigh Falls property that is both age and income restricted.  The property was purchased from the original builder who developed the property sixteen years earlier under the LIHTC tax program. We immediately reduced certain operating expenses and implemented a capital improvement program to upgrade certain aging plumbing and heating systems.  These improvements reduced operating and maintenance costs and insured that all units remained available for rent.  Additionally, we added certain targeted low-cost amenities and opened better lines of communication with tenants while we reasonably (but meaningfully) increased below market rents in a shorter time frame than we had projected. 

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