Worcester elderly apartments sold for $17M to Tennessee firm
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475 Chandler St. in Worcester
Bet Shalom, a 95-unit Jewish senior living community in Worcester, has been sold to a Tennessee-based firm for $17 million.
The affordable housing building, located at 475 Chandler St., was sold in a deal finalized on Tuesday to Housing Preservation Inc., according to Worcester District Registry of Deeds records.
Housing Preservation is a Memphis-based organization that acquires and preserves affordable housing communities originally developed by the U.S. Department of Housing and Urban Development, according to its website.
Housing Preservation owns more than 70 properties across 22 states. This is its first property in Massachusetts.
The HUD-subsidized community provides one-bedroom apartments with income-based rent, set at 30% of adjusted income, according to the property’s website.
Bet Shalom was sold by Worcester Jewish Community Housing for the Elderly Inc., a subsidiary of the Jewish Federation of Central Massachusetts in Worcester.
The five-story building sits on a 2.6-acre parcel, was constructed in 1982, and received a 2025 tax assessment value of $6.54 million, according to City of Worcester property records.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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