MELBOURNE, FL-Nonprofit Preservation of Affordable Housing, based in Boston, reports it has acquired three properties, totaling 510 affordable housing units in Melbourne, FL.

The nonprofit acquired the properties from non-profits affiliated with the Holy Trinity Episcopal Church. No terms of the purchase were released.

Trinity Towers East, West and South house seniors−79% of whom are eligible for Section 8 low-income housing subsidies. POAH has committed to preserve and steward the properties as affordable housing for low- and moderate -income seniors, company officials state.

In 2011 the leadership of Holy Trinity Episcopal Church approached POAH to explore whether the nonprofit could acquire these properties to continue the mission of keeping them as affordable housing for seniors.

“The leadership of Holy Trinity showed great foresight in its planning to acquire a new owner, saving these housing resources from being lost to the market. Often the threat of losing affordability covenants arises after it is too late,” said POAH President Amy Anthony. “We were able to meet the challenges concerning the transfer of the properties from a charitable, faith-based organization (Holy Trinity) whose mission is primarily not as an affordable housing provider to a nonprofit organization (POAH) whose exclusive mission is creating and preserving affordable housing.”

POAH intends to extend the term of the low-income contracts for 20 years, which will keep the rents affordable for residents and continue to provide services to seniors there. POAH will make modest improvements to the apartments in the near term and major renovations later. The goal is to preserve affordability and services at the properties for a minimum of 40 years, company officials note.