Capital Towers, a 298-unit apartment complex for seniors near North Hills, is being acquired by two nonprofits.

DHIC, a Raleigh-based affordable housing developer, and The Presbyterian Homes, a Colfax-based manager of senior communities, announced Monday that they will acquire Capital Towers and rehabilitate the property.

The $33 million project includes spending $17 million to improve the common areas, mechanical systems and energy efficiency of one- and two-room apartments spread across two towers.