Cathedral builds niche in affordable housing

STABLE BUSINESS: Robert Gaudreau Jr. is the president of Providence-based Cathedral Development Group Inc., which invests in apartments that need updating, including affordable housing. / PBN PHOTO/MICHAEL SALERNO
STABLE BUSINESS: Robert Gaudreau Jr. is the president of Providence-based Cathedral Development Group Inc., which invests in apartments that need updating, including affordable housing. / PBN PHOTO/MICHAEL SALERNO
Cathedral Development Group Inc. has built a stable portfolio of apartment properties, benefiting from demographic changes that are creating more demand for long-term rentals. Consumer interest in well-maintained, well-located apartments is rising across the U.S., and in many cities, vacancy is low. Cathedral, based in Providence, has found its niche in purchasing apartments that need…

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