Volunteers of America National Services to Rehab Newly Purchased Affordable Housing Apartments

Apr 20, 2001, 01:00 ET from Volunteers of America

    ALEXANDRIA, Va., April 20 /PRNewswire Interactive News Release/ --
 Volunteers of America National Services today announced the purchase of three
 St. Louis County, Mo., apartment developments for $16 million.  Built in the
 1970s, the Brighton, Hathaway, and Oakmont have a total of 513 apartments.
 The units will undergo renovation during the next three years and will provide
 affordable housing with supportive social services for residents.
     Shahab Dadjou, president of Volunteers of America National Services said,
 "We see a great opportunity for our organization to preserve, rehabilitate and
 introduce supportive social services that transform affordable housing
 developments into real communities that enhance the quality of life for people
 of varying income levels."
     "These affordable housing developments are part of a strategic plan to
 expand Volunteers of America's presence and services in the St. Louis
 metropolitan area.  Plans also call for construction of three new senior
 housing facilities and a facility for persons with disabilities," Dadjou said.
     The apartment acquisition effort included Fannie Mae, the National
 Affordable Housing Trust, Red Capital Mortgage and the St. Louis County
 Housing Authority, and Volunteers of America National Services.
 
     Volunteers of America is one of the nation's largest providers of
 affordable housing, health care and social services for families, the elderly,
 and people with disabilities.  It operates 194 housing and 21 health care
 facilities.  Volunteers of America National Services is a subsidiary of
 Volunteers of America, a national, nonprofit, spiritually based organization
 providing local human service programs and opportunities for individual and
 community involvement.  Web site http://www.VolunteersofAmerica.org .
 
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SOURCE Volunteers of America
    ALEXANDRIA, Va., April 20 /PRNewswire Interactive News Release/ --
 Volunteers of America National Services today announced the purchase of three
 St. Louis County, Mo., apartment developments for $16 million.  Built in the
 1970s, the Brighton, Hathaway, and Oakmont have a total of 513 apartments.
 The units will undergo renovation during the next three years and will provide
 affordable housing with supportive social services for residents.
     Shahab Dadjou, president of Volunteers of America National Services said,
 "We see a great opportunity for our organization to preserve, rehabilitate and
 introduce supportive social services that transform affordable housing
 developments into real communities that enhance the quality of life for people
 of varying income levels."
     "These affordable housing developments are part of a strategic plan to
 expand Volunteers of America's presence and services in the St. Louis
 metropolitan area.  Plans also call for construction of three new senior
 housing facilities and a facility for persons with disabilities," Dadjou said.
     The apartment acquisition effort included Fannie Mae, the National
 Affordable Housing Trust, Red Capital Mortgage and the St. Louis County
 Housing Authority, and Volunteers of America National Services.
 
     Volunteers of America is one of the nation's largest providers of
 affordable housing, health care and social services for families, the elderly,
 and people with disabilities.  It operates 194 housing and 21 health care
 facilities.  Volunteers of America National Services is a subsidiary of
 Volunteers of America, a national, nonprofit, spiritually based organization
 providing local human service programs and opportunities for individual and
 community involvement.  Web site http://www.VolunteersofAmerica.org .
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X18138997
 
 SOURCE  Volunteers of America