The Flats, Wilmington, Delaware

The Flats Phase I is the first phase of a multi-phase, $100 million project to redevelop The Flats neighborhood on the west side of Wilmington. The community of over 450 residential units will be redeveloped in 7 phases. Built in the early 1900’s as workforce housing for employees of Bancroft Mills, a prosperous cotton mill on the Brandywine River, the old two-story row homes are now in poor condition and functionally obsolete. While the current units have rents that are affordable to lower income families, they are not subsidized and tenant-paid utilities are extremely expensive.

Over a 10+ year time frame, the properties will be demolished (except for the exteriors) and replaced with new, larger, energy efficient units that will have modern features and will be affordable to families making between 30 – 60% of AMI. The historic feel and character of the community will be maintained and signature design features will be incorporated.

Key amenities of the overall project will include significantly reduced energy costs, the preservation of blocks of open green space down the center of the development, common space that will be maintained for the residents (rather than individual yards), a community building, and free Wifi for all residents.

The Flats redevelopment will preserve the legacy of William Bancroft, who was dedicated to giving back to the community in which he lived and worked by providing affordable housing and preserving over 1,000 acres for parkland and open spaces.

The Flats Phase I involves the new construction of 72 units. The project received an award of $1,032,705 in 9% Low Income Housing Tax Credits totaling $10,644,893 in equity and will target households with incomes of up to 30%, 40%, 50% and 60% of AMI:

• 21 one-bedroom garden-style/flat units with rents ranging from $320 – $749;

• 5 two-bedroom garden-style/flat units, with rents ranging from $377 – $891; and

• 6 three-bedroom garden-style/flat units, with rents ranging from $426 – $1006.

The proposed site is in an established area west of downtown Wilmington and is near retail stores, restaurants, parks, a library, museum, apartments, condominiums, single-family homes, public transportation, medical care, social services and public safety services. It is part of the “West Side Grows” revitalization initiative.

Hale Mohalu II Senior Apartments, Oahu, Hawaii

Hale Mohalu II Senior apartments is a senior community located in Pearl City, on the island of Oahu in Hawaii. This project is on the grounds of the former Hale Mohalu State residential treatment facility for Hansen’s disease patients. The state operated the treatment facility from 1949-1978. The facility was eventually closed in spite of numerous protest by many in the community, including a young legislator named Neil Abercrombie, who would eventually become Governor several decades later.

Hale Mohalu II Senior apartments provides affordable rental units to for those 55 years and older. A total of 163 one bedroom apartments equipped with emergency pull cords, scenic views, air-conditioning and a multi-purpose building with recreational activities. The project is part of a master planned development that will provide future phases for families as well as seniors.

South Main Apartments, Waterbury, Vermont

Housing Vermont and Downstreet Housing & Community Development redeveloped a building in the former Waterbury State Office Complex which was damaged in August 2011 during Tropical Storm Irene.   A wing, built in the 1950s, was demolished and replaced by a three-story, 23,000-square foot addition connected to the original building which was extensively renovated in accordance with historic preservation standards.  The energy-efficient South Main Apartments provide 12 one-bedroom, 13 two-bedroom and 2 three-bedroom apartments.  Twenty-one units are available to households with incomes up to 60% of the HUD area median income (for example, $39,960 for a 3-person household), four units for households with incomes up to 80% of the HUD area median ($53,200 for a 3-person household), and two units are available without income restrictions. 

Funding totaling $6.75 million from more than a dozen sources was raised to finance the total development cost.  HUD’s CDBG-Disaster Relief program, sponsored by Senator Leahy with support from Senator Sanders and Congressman Welch, provided a critical $1 million loan. Housing Vermont’s Green Mountain Housing Equity Fund V invested nearly $3.7 million in federal housing tax credit equity.  Other funding sources included state housing credits, CDBG, HOME and NeighborWorks.

Sitkowski School Apartments and Senior Center, Webster, Massachusetts

A long vacant high school was transformed into 66 units of affordable seniors housing and a spacious new Senior Center. This $20 million renovation is an essential piece of the Town of Webster’s on-going redevelopment of the downtown area — which also includes a new police station, a proposed new library, Main Street infrastructure improvements, a park on the nearby French River, and expansion of municipal parking.

With a larger than average senior population, the town recognized the need for more affordable seniors housing and a new Senior Center. In 2009, the town chose Neighborhood of Affordable Housing, a developer of multi-use housing based in Boston, to redevelop the school. NOAH worked closely with local and state government to secure funding, build the apartments, and transform the school’s former gym into a 9,300-square-foot Senior Center.

MHIC provided $9.4 million in federal low-income and historic housing tax credit financing for this development. Funding also came from a mix of private and public lenders: MassHousing, the Massachusetts Department of Housing and Community Development, NeighborWorks, CEDAC, Citizens Bank, Selective Insurance and Commerce Insurance.

The new apartments include one- and two-bedroom units, all affordable to seniors earning under 60% of the area median income. The Senior Center, which previously was located in a leaky basement nearby, includes a large multi-purpose room with space to seat over 100 people at meals. An open mezzanine level includes a reading room, computer room, exercise room, art space, hair salon, health office and other amenities. The Center is accessible from within the building for the residents of the new apartments and is open to the entire community.

McAuley Meadows Senior Apartments, Auburn, California

Amenities include: on-site resident services, computer center, community room with kitchen, conference room, library with gas fireplace, large outdoor terrace, media room, bocce-ball court, community garden and a media room. It is a smoke-free, pet-friendly community close to downtown Auburn. There is a bus stop with shelter at its entrance, as well as ample onsite parking.

The property will be financed using tax-exempt bonds placed with Citibank, significant soft debt from the City of Oakland, HCD and an AHP loan from Citibank along with proceeds from 4% LIHTC purchased by Fund XIV. Twenty-five of the units will have Project Based Section 8 provided by the Oakland Housing Authority. Merritt Community Capital Fund XIV invested over $2,700,000 in the project.

Baxter Springs Senior Residences, Baxter Springs, Kansas

Baxter Springs Senior Residences, located in Baxter Springs, Kansas, is an adaptive-reuse of a historic school building. Built in 1918, it was the first purpose-built secondary school in Baxter Springs and served as an educational facility until 2013. Today the building offers 28 affordable units for seniors. These one- and two-bedroom units range in size from 556 to 1,068 square feet. BSSR offers its residents brand new energy efficient appliances, on-site laundry facilities, community spaces, weekly and monthly activities, as well as an on-site manager.

Prairie Fire Development Group, LLC, based out of Kansas City, serves as the developer and the property manager for this project. They most recently were awarded the Innovation in Housing and Community Development Ad Astra Award by the Kansas Housing Resources Corporation for this development.

MHEG’s Fund 40, LP provided $4.4 million in equity.

ParkRidge Townhomes, Williston, North Dakota

ParkRidge Townhomes opened its doors in October of 2015 in Williston, North Dakota.   Situated in a newly developed subdivision, this 36-unit townhome complex is conveniently located near schools, parks, retail shopping centers and a golf course.

The property is dedicated to serving the housing needs of essential service workers (ESW) and their families, those working in law enforcement, healthcare personnel and employees of the county, city and school district.  Consisting of 2- and 3-bedroom units, the two-story townhomes offer a spacious open floor plan, modern fixtures and appliances and an attached 2-car garage.  

Sponsored by Mountain Plains Equity Group (MPEG), a number of key participants were involved in the development of this project.  In particular, the North Dakota Housing Finance Agency (NDHFA) provided $2 million from the Housing Incentive Fund (HIF) to help finance the development of this $7.2 million complex.  The financing terms of HIF monies are very favorable, allowing developers the ability to offer a quality home at a rental rate that is affordable and well within the budget of local workers.   Especially in Williston, where rental rates have escalated significantly, these modest rates are helping the community to retain and attract necessary workers.

Campbell Creek Village, Boothbay Harbor, Maine

Campbell Creek Village is a 36 unit mixed use community located in coastal Boothbay Harbor, ME. The project was an occupied rehabilitation of two existing complexes in total disrepair, some residents living in squalor. Community Housing of Maine (CHOM), a non-profit organization providing advocacy, supportive housing, community inclusion, and stability to homeless and special needs populations across the state, is the developer. CHOM, local community members and organizations, construction and property management and the financial investment of NNEHIF and TD Bank, together transformed not only the living conditions of the existing tenants but created a comfortable and safe haven for all that reside here. Holly Stover from the Maine Department of Health and Human Services said, “For the first time in this place, people are proud of where they live.”

Templin-Bradley Co. Lofts, Cleveland, Ohio

Templin-Bradley Co. Lofts is a 30-unit rehabilitation mixed income, adaptive reuse project in Cleveland, Ohio developed by Detroit Shoreway Community Development Organization. The historic building once housed the country’s largest distributor of bulbs and seeds but reopened as mixed income housing in the Gordon Square Arts District. Originally built in 1916 on the neighborhood’s main commercial corridor, the building had been vacant since 2006 and had been steadily deteriorating.  The $8 million redevelopment features 18 one-bedroom units, 4 two-story live-work units (lower level open for work space, upper level for living area), and 8 two-bedroom units of family housing. The project includes 15 low income housing tax credit units and 15 market rate units located within a single building.

The rehabilitation of the Templin-Bradley Co. Lofts meets Enterprise Green Communities standards and features several parking spaces (including some secured indoor parking) as well as a common area roof deck. Some of the units contain private balconies, skylights, open-concept floor plans, high-end finishes, exposed brick walls and wood flooring.  Each unit includes a refrigerator, garbage disposal, range, dishwasher, microwave, central air conditioning, wood flooring, washer-dryer (in-unit), intercom system, security system, and ceiling fan.

Templin-Bradley Co. Lofts was developed using a combination of Low Income Housing Tax Credits administered through the Ohio Housing Finance Agency (OHFA), federal historic tax credits administered by the Ohio Historic Preservation Office, state historic tax credits administered by the Ohio Development Services Agency, a construction loan through Huntington National Bank, funding from the City of Cleveland, an HDAP loan through OHFA, a grant through the National Endowment for the Arts and the Northcoast Brownfield Coalition, and a predevelopment loan through the Ohio Capital Finance Corporation, and affiliate of OCCH.  Equity investment was provided by Ohio Capital Corporation for Housing. 

Cottages at Cathedral Square

Cottages at Cathedral Square provides much needed affordable housing with supportive services for seniors in the Belleville, Illinois area. The development consists of 32 affordable apartments, half of which are one-bedroom garden style units and the remaining are two-bedroom units. The development is complete with a community room, barber shop, health screening/examination room, a fitness center, gardening spaces and offers a variety of supportive services to the residents. St. Louis Equity Fund is pleased to have worked with the Illinois Housing Development Authority and partnered with the Metropolitan Housing Development Corporation and Touchette Regional Hospital, Inc. on this development.  

Crescent SquareApartments, Virginia Beach, Virginia

Crescent Square Apartments serves formerly homeless populations and other low-income individuals through the collaboration of a community-based non-profit and multiple jurisdictions in eastern Virginia. This development, completed in late 2015, is EarthCraft certified for green building and very high energy efficiency. Eight apartments are fully accessible, and the entire building meets Universal Design requirements. Amenities include a, fitness room, a community room with a kitchen, an outdoor patio, a computer room, laundry facilities, a 24-hour front desk and an extensive security system. Virginia Supportive Housing (VSH), the non-profit developer/ owner, provides extensive on-site services to Crescent Square residents, applying their finely honed Permanent Supportive Housing model that has proven successful in preventing homelessness in several earlier developments across Virginia.

Through the Housing Equity Fund of Virginia XVIII, L.L.C., VCDC provided $5.5 million in equity investment involving Low Income Housing and Federal Solar Tax Credits, representing its seventh successful partnership with VSH. Other funding sources include the City of Virginia Beach, the City of Norfolk, Virginia Housing Development Authority, Virginia Department of Housing and Community Development, Federal Home Loan Bank of Atlanta, the Virginia Housing Trust Fund, project-based rental assistance from HUD and several private foundations.