Christ Church Apartments, a high-rise fixture at Rose and East Vine streets since 1974, is being sold.
A Tuesday release from Christ Church Apartments, formed by Christ Church Cathedral as a separate entity, said the buyer was CC Lex Investors LLC, which is owned by GHC Housing Partners Inc.
Christ Church Apartments provides affordable housing for senior citizens 55 and older. It has 168 one-bedroom apartments.
GHC Housing, based in Sherman Oaks, Calif., has garnered attention for providing affordable housing with benefits not often seen in low-cost housing, such as wellness clinics, job counseling, fitness centers and computer labs.
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The news release from Christ Church Apartments said the church had hoped to find a buyer that would maintain the complex as low-income, subsidized housing but would increase resources to enhance its mission.
The sale will be closed once approvals are obtained from the Department of Housing and Urban Development. A confidentiality clause prevented the sale price from being immediately disclosed.
The release said the Christ Church Apartments board and the vestry of Christ Church Cathedral would preserve proceeds of the sale "to accomplish our ongoing mission objectives."