A large subsidized affordable housing community aimed at seniors in Williamsville has been acquired by a New York City-based property manager.
Forest City Residential Group of Cleveland sold the Village Square Apartments at 5403 Main St. to an affiliate of the Jonathan Rose Companies. The buyer, represented through Rahf Iv Village Square LLC, paid $3.89 million, according to a deed filed with the Erie County Clerk's office.
Built in 1976 and renovated in 1990, Village Square is a five-story building with 100 one-bedroom units, subsidized through the federal government's Section 8 program. The 76,035-square-foot building sits on 1.38 acres and features a clubhouse, fitness center, laundry facilities and storage for tenants.
The building was last sold in 2004, for $3.64 million.