Originally built as a hotel in the 1920s, Battery Park Seniors Apartments in North Carolina was converted into a high-rise apartment building in the 1980s and is now home to the historic Asheville Pinball Museum — and senior residents in need of affordable housing. 

We worked with Optigo® lender BWE and sponsor National Church Residences to finance a $17.6 million Optigo Preservation Rehab, Tax-Exempt Loan that will go toward preserving and rehabilitating this affordable housing property in downtown Asheville. 

Battery Park Seniors Apartments benefits from a Project-Based Section 8 HAP Contract through the North Carolina Housing Finance Agency with 100% of the rental units restricted to 60% of area median income or below. 

Additionally, the property is wheelchair accessible with an elevator and has an emergency call system and on-site transportation. About $13.4 million of the loan will be used to renovate all 122 units, including brand new kitchens, bathrooms, electrical and HVAC systems, as well as accessibility improvements and other updates to the common areas — further improving the quality of life for the senior residents. 

National Church Residences is a not-for-profit provider of affordable senior housing and services. They offer a variety of adult care programs including community wellness services, home health care, outpatient therapy and service coordination for their residents. 

“We’re proud to work alongside National Church Residences and Freddie Mac to provide necessary financing to preserve safe, affordable housing to meet the growing need,” said Jon Killough, executive vice president at BWE. 

Together, we’re working to increase the supply of rental housing for America’s senior citizens.

  • Sign of Battery Park Senior Apartments
  • Battery Park Historic Pinball Museum
  • Lobby entrance of Battery Park Seniors Apartment
  • View from the rooftop of Battery Park Senior Apartments
  • Battery Park Library