Acquisition of Parish Grove Expands National Church Residences in Georgia

ATLANTA - National Church Residences invests in one of the nation's largest markets with a significant acquisition that increases its portfolio to 17 affordable senior housing communities in Atlanta, Georgia. On June 26, 2024, National Church Residences acquired a 99-year ground lease interest in Parish Grove (formerly Cathedral Towers) from the Episcopal Cathedral of St. Philip in Atlanta, marking a notable milestone for both organizations.

"The acquisition of Parish Grove is part of National Church Residences' growing presence in Atlanta," said President and Chief Executive Officer, Susan DiMickele of National Church Residences. "We're so pleased to become part of the Buckhead neighborhood, with plans to preserve this affordable senior housing community as a resource for many more generations of residents to come."

For 45 years, the Cathedral of St. Philip operated this property as The Cathedral Towers, demonstrating a longstanding commitment to providingView Post affordable housing in Buckhead. As a cornerstone of the community, the church has worked diligently over the years to ensure that older adults have access to a quality, supportive living environment in addition to offering many services and activities. Building on this foundation, the Cathedral of St. Philip will continue to support activities at Parish Grove as part of its ministry.

"The Cathedral of St. Philip is excited to partner with National Church Residences on the Cathedral Towers/Parish Grove community," said Rev. Canon George Maxwell, Vicar. "National Church Residences brings expertise and experience necessary to continue the tradition of care that the community has enjoyed and the ability to perform the renovations that the facility requires. The Cathedral will use the proceeds from the transaction to create a special fund dedicated to improving access to and the affordability of housing and the provision of support services for low-income seniors. We give thanks to God for the creativity and dedication of all who are involved in this transition."

Parish Grove is nestled along the 2800 block of Peachtree Road in the heart of the Buckhead neighborhood in northern Atlanta. This affordable senior housing community is a 14-story apartment building, featuring 195 one-bedroom units, each approximately 650 square feet. Built in 1979, the community boasts two elevators, a central laundry room, multiple common space amenities, an outdoor garden and office spaces.

After closing on Parish Grove, National Church Residences will begin making some modest improvements to preserve this affordable housing community, ensuring it continues serving older adults for many years to come. Updates will include accessibility enhancements for older adults with disabilities, as well as sidewalk and parking lot improvements.

"We deeply appreciate the support and guidance provided by the clergy, staff, and parishioners at the Cathedral of St. Philip as we eagerly worked together on this transition for several months," said Senior Director of Acquisitions, Daniel Patrick. "As part of our mission, we're proud to continue collaborating with the Cathedral and listening to our residents in order to provide valuable programs that contribute to physical and emotional wellness."

With this acquisition, National Church Residences has a total of 2,218 affordable housing units in the Atlanta region. Currently, the nonprofit organization is the second largest owner of affordable senior housing within the 29-county metropolitan statistical area, second only to the Atlanta Housing Authority.

About National Church Residences

Originating from a Christian commitment of service, National Church Residences provides an array of health care services and a variety of housing options to more than 65,000 older adults. The nonprofit organization is driven by a vision to scale for mission impact by advancing better living for 100,000 seniors by 2030, wherever they call home. With more than 350 communities across the United States, it is the nation's largest nonprofit provider of affordable senior housing and the largest manager of service coordinators. The organization also offers a variety of additional senior living options, home and community-based services, as well as permanent supportive housing for the formerly homeless and disabled. For more information, visit us at NationalChurchResidences.org and follow us on Facebook, LinkedIn and YouTube.