Contour Housing Partners Has Acquired Managing Member Interest in The Hollander in Hartford

Announcement marks the housing preservation firm’s first acquisition

Transaction will preserve affordability and deliver substantial renovations to the outdated site

Contour Housing Partners, a housing preservation firm, has acquired the managing member interest in The Hollander, a 70-unit mixed-income, mixed-use apartment complex in downtown Hartford, CT. Plans for the acquisition will preserve the rental community’s affordability and deliver significant capital improvements to the nearly 100-year-old property. The Hollander marks Contour’s first transaction.

The Hollander was bult in 1926 and renovated in 2008 with 4% Low-Income Housing Tax Credit (LIHTC) and Historic Tax Credit funds. Of the 70 total residential units, 56 are affordable and 14 are market-rate. The community includes a management office, community room, and nearly 14,000 SF of ground-floor retail. The property will now be professionally managed by Pennrose Management Company.

Plans for the site include structural, life-safety, and energy-efficiency improvements, as well as upgrades to resident common areas. Contour will also ensure the community’s continued rental affordability. The property will now be professionally managed by Pennrose Management Company.

“Contour was founded on the mission of preserving our country’s much-needed affordable housing stock as units throughout the country prepare to exit affordability restrictions,” said Dylan Salmons, president and managing partner at Contour. “Located near one of Hartford’s largest downtown green spaces and with easy access to the regional train station, we plan to ensure The Hollander remains a community asset for low-income families for many years to come.”  

Contour Housing Partners was launched in January 2023 by executives from Pennrose, one of the nation’s largest developers of affordable housing. The new entity is focused on preserving the nation’s affordable housing landscape through strategic investments in communities of need, including the acquisition and preservation of existing affordable housing as well as the development of new workforce housing.

Leveraging its strategic partnership with Pennrose, Contour is well-positioned to partner with owners of affordable multifamily assets under state or federal regulatory programs, including LIHTC and Section 8; unrestricted multifamily and mixed-use assets, including naturally occurring affordable housing over 100 units; and scattered, multi-site development portfolios on the disposition and restructuring of properties.