VITUS GROUP ANNOUNCES PURCHASE AND RENOVATION OF CONNECTICUT AFFORDABLE HOUSING PROJECT

Release Date: MAY 2, 2014

(Seattle, Wash.) —Vitus Group announced today that it has acquired and will rehabilitate The School Apartments, a 226-unit senior living housing development comprised of two buildings in New Britain, Connecticut outside of Hartford. Vitus Group’s work will preserve and modernize needed affordable housing rental units for seniors in New Britain for several decades to come.

“The School Apartments are very important to seniors and their families in this area,” said Scott Langan, Director at Vitus Group. “We want these apartments to provide New Britain seniors with the opportunity to age in place, near their families.”

Vitus has also secured the buildings placement on the National Historic Registry.  The School Apartments consists of two buildings that were originally built as New Britain’s High School and Vocational School. The High School is constructed of three connected buildings erected between 1826 and 1929 and the Vocational School building was constructed in 1910. In the 1970s, both buildings were converted into apartment buildings providing 226 studio-, one-bedroom and two-bedroom units for seniors.

Vitus will spend over $7,000,000 on much-needed renovations to the apartments, including replacement of roofs, windows, doors, water heaters, and boilers and improvements to common space to enhance the sense of community that exists at School Apartments.  Interior upgrades to apartments units will include the renovation of bathrooms and kitchens.

The School Apartment renovation will also include upgrades for energy efficiency and sustainability, including the installation of high efficiency boilers, new windows, and Energy Star appliances.

To preserve the quality of life of seniors currently residing at School Apartments, Vitus is retaining the existing management company and Tenant Service Coordinators who plan programs and assist tenants.  The rehabilitation will be completed without permanent relocation of residents.

ABOUT VITUS
At Vitus, our mission is to create positive impact - one community, one family and one life at a time. Since 1996 we have partnered with lenders, investors and public agencies to preserve and extend the life fo existing affordable housing across the country inmarkets with the greatest need. Through holistic renovation, we focus on the well-being of residents and rejuvenationg the surrounding community to both improve the overall quality and incorporate features that promote physical activity, community gathering and energy efficiency. To date, our team has provided stable homes to more than 25,000 residents in 23 states. www.vitus.com