Boston – Cruz Companies announced the closing of its $22.5 million sale of Taurus at Fountain Hill, an apartment complex in Roxbury, to Jonathan Rose Companies and partner Schochet Companies, ensuring the long-term preservation of this 73-unit property as affordable housing.
Cruz Companies, a 100% Black-owned real estate enterprise, developed and built Taurus at Fountain Hill in 1981, and has managed the building since then. It is located within walking distance of public transit, restaurants, grocery stores, and the Benjamin Franklin Institute of Technology.
“As a third-generation family-owned construction and MBE real estate group that has spent more than 75 years building notable buildings, and over 50 years developing and managing affordable and workforce housing in historically underserved communities, ensuring the ongoing affordability of apartment buildings we develop is always of paramount importance to us,” said Cruz Companies president and CEO, John B. Cruz III. “We are proud to collaborate with Jonathan Rose Companies and Schochet Companies on this deal, which safeguards the future of Taurus at Fountain Hill and reflects its status as a high-quality asset.”
“Jonathan Rose Companies and Schochet Companies share our belief in the power of inspiring, accessible housing to elevate communities,” said Justin Cruz, COO of Cruz Companies. “These are great organizations with a track record of success and a clear alignment of values. Their commitment to affordability was a critical factor in our moving forward with this disposition.”
