Community Preservation Partners (CPP) is one of many fascinating companies HKA represents. CPP’s president, Anand Kannan, is one of the agency’s many impressive clients.
Anand oversees a portfolio of more than 4,500 affordable housing units across the nation. He and his team specialize in acquiring and rehabilitating apartment buildings at risk of converting to market rate and preserving affordability for the residents who live there.
Take Orangewood Court Apartments in Sherman Oaks, for instance. CPP purchased the 92-unit multi-family building in 2013 and launched a massive $19 million rehabilitation project. The rehab included a community pool for all residents, seismic retrofitting that protects them in the event of an earthquake and solar panels that generate electricity and help lower tenant utility bills. Plus, the way CPP structures transactions, it can prolong government commitments to offset future rent increases, sometimes for 50+ years. Improved living conditions and increased financial stability – it’s the ultimate win-win combination for residents.
Quarterbacked by Anand and his team, these projects are supported by a vast network of parties, including the biggest investment banks on Wall Street and innovative companies such as SolarCity and Google. Local, state and federal agencies (i.e. HUD, USDA, VA and DoE) are usually mobilized to forge an effective incentive package, and plans are carried out by an army of architects, decorators, general contractors, site managers and resident service providers. In other words, CPP manages A LOT of moving parts to make its communities the best they can be.
Once a rehab is complete, CPP continues serving residents with a wide array of programs such as Head Start or job-searching workshops. At its senior citizen communities, CPP offers amenities ranging from health and wellness programs to English as a second language classes.
These offerings go a long way toward improving the quality of life for residents, and CPP prides itself on the ability to enhance an entire community. It’s no wonder public housing authorities, nonprofits and private developers all over California do business with CPP. They know that by selling to CPP, their tenants will be taken care of for a long time. A subsidiary of the Irvine-based affordable housing innovator WNC & Associates, CPP has properties in New York, Indiana and New Mexico, too. This year, CPP entered its sixth state by acquiring Plaza Townhomes in Portland, Oregon, from the local housing authority there.
For his many efforts and unrelenting dedication, Anand recently was honored by Affordable Housing Finance magazine as one of only six industry executives to be named a “Youth Leader” for 2016. At 36 years old, the future could not be brighter for Anand, for CPP and for the communities CPP preserves under his consummate leadership.