Public Housing Revitalization:Building Communities Together
April 21, 2015The Lyceum, Hartford, CT
This IForum produced with the support of
STATE-SPONSORED HOUSING PORTFOLIO
REVITALIZATION
Woodcrest Elderly Housing, LP (non-profit for the Somers HA)
Woodcrest Elderly Housing
DEVELOPMENT TEAM: Developer - Somers Housing AuthorityArchitect - Henry SchaedlerConsultant - Real Estate Diagnostics Contractor - Alca Construction
FUNDING:DECD/HUD Home Funds - $3.3MFederal LIHTC Proceeds - $301kFederal Home Loan Bank - $400k
Before
After
Hales Court Housing Associates, LP (Non-profit for the Westport HA) The Villages at Hales Court
(fka Hales Court)
DEVELOPMENT TEAM:Developer : Westport Housing AuthorityArchitect: Gilley Design Assoc ArchConsultant: Millennium Real Estate Svcs.Contractor: Distinctive Homes of CT
FUNDING:LIHTC Proceeds - $13.2MCHFA Loan - $12MDECD Home Funds - $3.5M
Before
After
Allen O’Neill Homes, LLC (non-profit for the Darien HA)
The Heights at Darien (formerly Allen O’Neill Homes)
DEVELOPMENT TEAM: Architect - William CrosskeyDeveloper – AON, LLCConsultant - New Castle Housing Ventures Syndicator - PNC Real Estate Capital
FUNDING: $21,249,000 – LIHTC Proceeds$ 4,292,500 – DECD Home Funds$ 5,914,200 – FHA First Mortgage
Before
After
New London Communities LP(non-profit for the New London HA)
Homes at Pride Point (FKA Bateswood)
DEVELOPMENT TEAM:Developer – New London Communities, LPArchitect – URS CorporationEngineer – URS CorporationConsultant – Real Estate SolutionsContractor – Carabetta Brothers
FUNDING:$7.6M – LIHTC Proceeds$5.6M – CHFA 1st Mortgage$6M – DECD Housing Trust Fund
After
Before
New London Communities, LP(Non-profit for the New London HA)
Homes at Progress Point (FKA Briarcliff)
DEVELOPMENT TEAM:Developer–New London Communities, LPArchitect – VMY Vatois ArchitectsEngineer – URS CorporationConsultant – Real Estate Solutions
FUNDING:Federal LIHTC - $7.7MDeveloper/Investor Cash Equity - $1.7MCHFA Bond Proceeds - $4.1MCHFA Next Steps - $4.6M
Before After
KR Corbin/Pinnacle Holdings, LLCCorbin Heights/Pinnacle Heights
Extension
DEVELOPMENT TEAM:Developer: KR Corbin Pinnacle Holdings, LLCArchitect: Paul Bailey Architect, LLCEngineer: TO Design, LLCContractor: Haynes Construction
FUNDING:Total Development Cost: $80.6MDECD Funds: $15.0MOwner Equity: $0.65M9% LIHTC Proceeds: $40.0MCHFA ITA Funds $19.2MCPS/CHFA Funds $ 3.88M
Before
After
RHA LP (non-profit for THE RIDGEFIELD HA)
Ballard Green
DEVELOPMENT TEAMRHA Limited PartnershipREDI- Development ConsultantsHenry Schadler Assoc, PC- ArchitectNaek Construction co. Inc.- Contractor
FUNDING:$3.2M - State Bond Funding Total$929k – LIHTC - Total$2.5M Construction Loan - Total$600k – Owner Equity – Total$400k - Grant from AHP
The Ridgefield Housing Authority, through their non-profit applied for funding for all of their properties as a whole; subsequently, the Elderly and the Congregate remained in the State Housing Portfolio and the Affordable and Mod Rental Units were taken out of the state program.
Before
After
Glastonbury Housing AuthorityVillage Green
SHRP Funding
AFTER
Before
Development TeamArchitect: Capital Studio ArchitectsContractor: PAC Group, LLC
Funding$3M – SHRP Funding$608K – Reserves$500,000 HTCC$92k – CL&P
Wethersfield HA Highview TerraceSHRP Funding
BEFORE
AFTER
Development TeamArchitect: J. Associates ArchitectsContractor: BRD Builders
Funding$642,828 – SHRP Funding$341,416 – Reserves$258,797 – CL&P
Enfield Housing AuthorityMark Twain Congregate
SHRP Funding
Before
After
Development TeamArchitect: Capital Studio ArchitectsContractor: BRD Builders
Funding
$1.6M-SHRP Funding$496K-Reserves
Middletown Housing AuthoritySunset Ridge, Santangelo Circle & Rockwood Acres
SHRP Funding
AFTER
BEFOREDevelopment TeamAmaya Architects, ArchitectJ. D’Amelia & Associates, ConsultantGibralter Construction, Contractor
Funding$3M-SHRP Funding$2M-Reserves
Sprague Housing AuthorityShetucket Village
1st Year $30M
Before
After
Development TeamPaul B. Bailey - ArchitectsMattern Construction – Contractor
Funding$2.2M – Governor’s 1st year $30M
Sharon Housing AuthoritySharon Ridge
1ST Year $30M
After
Development TeamJ. Associates – ArchitectWomen’s Institute – ConsultantKenneth L. Thomas, LLC – Contractor
BeforeFunding$56,000– CL&P-Utility Incentives$56,000 – Project Reserves$745,000 – 1st Year $30M Funds
Bristol Communities LP(Non-profit for the Bristol HA)
Dutton Heights
Funding LIHTC - $4.1MCHFA TEB Funds - $6MFlex Funds - $4.8M
Development TeamCEI Investment Corp - DeveloperCrosskey Architects - ArchitectAcorn Consulting Engineers - Engineer
Before
After