Jonathan Rose Companies and Schochet Companies procured Plumley Village apartments and shared plans to renovate the Worcester development’s affordable residential buildings and community hub.

Acquiring Plumley Village, located at 16 Laurel Street, pushed Jonathan Rose Companies’ portfolio over 1,000 units.

Formerly owned by The Community Builders, Plumley Village offers 430 affordable apartments and a bevy of amenities including a community room, business center, convenience store, food pantry, laundry facilities, basketball court, playgrounds, WIC office and community garden.

“Plumley Village’s central location, long-standing history in the market and access to vital social services make it an important addition to Jonathan Rose Companies’ portfolio,” said Max Jawer, managing director of acquisitions at the company. “We’re proud to preserve the community’s affordability while making strategic investments in both its physical infrastructure and the social programs that help residents thrive.”

An extensive rehab planned by Jonathan Rose Companies will bring system upgrades, window and roof replacements and unit improvements like new kitchens and bathrooms. The company also plans to add a fitness center and revitalize existing community spaces.The Boys and Girls Club of Worcester will continue operating out of the ground floor of the community’s high rise tower, offering after-school programming.

“The rehabilitation of this property will help address critical structural improvements while expanding residents’ access to programs that strengthen community health, education and overall well-being,” said Brandon Kearse, co-chief investment officer at Jonathan Rose Companies. “Partnering with The Schochet Companies, we are committed to strengthening Plumley Village as a vibrant, affordable housing community and deepening our presence in the Massachusetts market.”