Coraopolis Towers Sells for $24.25M

Coraopolis Towers, a 200-unit, 10-story senior apartment building at 951 1st Ave in Coraopolis, Allegheny County, sold June 22, 2026 for $24.25 million, according to a deed recorded June 29, 2026. The property sits on a 2.1-acre lot. All units are affordable, reserved for residents 62 and older.

Built in 1979, the tower operates as Section 8 with income-based rents. Jonathan Rose Companies acquired it in January 2017 as part of the Forest City Portfolio acquisition.

The HAP contract was renewed for 20 years with a 19-year preservation exhibit, locking in affordability through 2056. The renewal included a 24% mark-up-to-market rent increase. Financing runs through an existing HUD mortgage.

Amenities include a community garden, healthy vending machines, group exercise classes, a community room and library, controlled access, and balconies.