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Cruz Cos. Sells Housing Complex for $22.5M

Photo courtesy of Cruz Companies

Cruz Cos. sold its Taurus at Fountain Hill property in Roxbury to a partnership of Rose Companies and Schochet Companies for $22.5 million in a transaction that will extend affordability restrictions on the 73 apartments.

Roxbury-based Cruz developed the complex in 1981 and has managed the building for 43 years.

“As Boston continues to experience rapid gentrification, Roxbury remains one of the few areas offering affordable living options, and we are committed to preserving and enhancing this invaluable community resource,” Jonathan Rose Companies Chief Investment Officer Nathan Taft said in a statement.

Cruz Companies this year completed construction of the 85,000-square-foot Michael E. Haynes Arms Apartments, a mixed-income project including 55 residences and office space in Roxbury.

The firm also is in predevelopment for a 170-unit development in Nubian Square and has a total portfolio of more than 1,300 apartments.

Commercial & Industrial