Alden Capital Partners announced that it is investing in the acquisition, rehabilitation, and construction of Crest Manor in Abington Township, Pa., just north of downtown Philadelphia.

Pennrose Properties and the Montgomery Housing Authority will substantially rehab 15 existing two-story duplexes, demolish seven buildings, and build three new multi-unit buildings at Crest Manor, which was built in 1962 and currently includes 40 public housing units.

Ballard Spahr represented Alden Capital Partners in its tax credit investment in the Crest Manor Apartments project in Montgomery County, PA. The team included Jere Thompson, Jeff Davine, Jayne Hebron, Renie Boudreau, Ronnie Vales, Christine Karas, Bret Spriggs, and Kim Magrini.