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2020 AHTF Project Data Worksheet

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2020 AHTF Project Data Worksheet CPED MULTIFAMILY HOUSING DEPARTMENT PROJ#: 686 Page 1 of 3 Affordable Housing Inventory Project Data Worksheet ACT#: 930 11/18/2020 7:49:22 AM Project Status Project Name: Whittier Community Housing Proposed: 7/30/2020 Main Address: 2609 BLAISDELL AVE Closed: Complete: Project PROJECT Aliases: Additional PHOTO ACP50 Addresses: No Ward: 10 Neighborhood: Whittier UNAVAILABLE Yes Income Restriction Occupancy UNIT QTY <30% <40% <50% <60% <70% <80% MKT Rental 0BR 2 0 0 2 0 0 0 0 Ownership 1BR 15 0 0 15 0 0 0 0 Project Type Development Unit Type 2BR 49 0 0 49 0 0 0 0 New Construction Apartment/Condo PBV/VASH: 3BR 19 0 0 19 0 0 0 0 Rehabilitation Townhome 4+BR 0 0 0 0 0 0 0 0 GRH: Preservation Coop TOT 85 0 0 85 0 0 0 0 Senior Shelter Shelter: Transitional Income Averaging Year Built: Scattered Site/Other Homeless: 8 GENERAL INFORMATION The Whittier Community Housing project will combine light rehabilitation of the existing 45 unit affordable housing structure, with the addition of an attached new construction multifamily building with 40 units of affordable housing. The existing 45 units are all under a HAP contract, and the 40 new units will all have project-based vouchers from the Minneapolis Public Housing Authority. There are studio, one, two, and three bedroom units. Eight (8) of the units are set aside for high priority homeless households who also qualify for supportive housing. Partnership: Contact Information: Developer: Owner: Consultant: Leah Stockstrom Leah Stockstrom CB Whittier Housing Development LLC CB Whittier Housing Development LLC 1080 Montreal Ave 1080 Montreal Ave St. Paul, MN 55116- St. Paul, MN 55116- Phone: (651) 288-8695 ext Phone: (651) 288-8695 ext- Fax: Fax: Contractor: Architect: Property Manager: Mike Szurek Kim Bretheim CommonBond Communities Frerichs Construction Company LHB Phone: ext- 3600 Labore Rd Suite 8 250 3rd Ave N Suite 450 Fax: Saint Paul, MN 55110- Minneapolis, MN 55401- Support Services: Phone: ext- Phone: (612) 752-6955 ext- CommonBond Communities Fax: Fax: (612) 338-2088 Phone: ext- [email protected] Fax: CPED Coordinator: CPED Legal: CPED Construction Mgmt: Oliver Smith CPED 105 5th Ave S Suite 200 Minneapolis, MN 55401- CPED Support Coordinator MPLS Civil Rights Phone: (612) 673-5009 ext- Fax: (612) 673-5036 [email protected] CPED MULTIFAMILY HOUSING DEPARTMENT PROJ#: 686 Page 2 of 3 Affordable Housing Inventory Project Data Worksheet ACT#: 930 11/18/2020 7:49:24 AM Project Status Project Name: Whittier Community Housing Proposed: 7/30/2020 Main Address: 2609 BLAISDELL AVE Closed: Complete: Project PROJECT Aliases: Additional PHOTO ACP50 Addresses: No Ward: 10 Neighborhood: Whittier UNAVAILABLE Yes Income Restriction Occupancy UNIT QTY <30% <40% <50% <60% <70% <80% MKT Rental 0BR 2 0 0 2 0 0 0 0 Ownership 1BR 15 0 0 15 0 0 0 0 Project Type Development Unit Type 2BR 49 0 0 49 0 0 0 0 New Construction Apartment/Condo PBV/VASH: 3BR 19 0 0 19 0 0 0 0 Rehabilitation Townhome 4+BR 0 0 0 0 0 0 0 0 GRH: Preservation Coop TOT 85 0 0 85 0 0 0 0 Senior Shelter Shelter: Transitional Income Averaging Year Built: Scattered Site/Other Homeless: 8 USES AND PERMANENT SOURCES Project Uses: Project Permanent Sources: Source / Program Amount % Term Committed Land: $6,665,000.00 Construction: $14,264,210.00 LIHTC - $XX (2020) Construction Contingency: $968,452.00 $952,602.00 7/31/2020 Deferred Developer Fee Construction Interest: $202,721.00 $500,000.00 7/31/2020 Other (General Partner Equity) Relocation: $0.00 $151,000.00 7/31/2020 Developer Fee: $2,500,000.00 Other (NOI During Construction) Legal Fees: $90,000.00 $569,019.00 Architect Fees: $463,087.00 Other (Existing Project Reserves) Other Costs: $3,117,802.00 MHFA $875,000.00 Reserves: $606,361.00 Other (MHFA ELHF Loan) MHFA $621,400.00 Non-Housing: $0.00 Other (MHFA FAF Loan) TDC: $28,877,633.00 MHFA $944,000.00 TDC/Unit: $339,736.00 Other (MHFA MLP Loan) Financing Notes: $3,556,446.00 30 7/31/2020 Other (Seller Note) $20,125.00 7/31/2020 Energy Rebate $381,082.00 7/31/2020 Sales Tax Rebate $8,620,959.00 Syndication Proceeds $8,846,000.00 2.75% 40 7/28/2020 First Mortgage $525,000.00 AHTF (2009) CPED MULTIFAMILY HOUSING DEPARTMENT PROJ#: 686 Page 3 of 3 Affordable Housing Inventory Project Data Worksheet ACT#: 930 11/18/2020 7:49:25 AM Project Status Project Name: Whittier Community Housing Proposed: 7/30/2020 Main Address: 2609 BLAISDELL AVE Closed: Complete: Project PROJECT Aliases: Additional PHOTO ACP50 Addresses: No Ward: 10 Neighborhood: Whittier UNAVAILABLE Yes Income Restriction Occupancy UNIT QTY <30% <40% <50% <60% <70% <80% MKT Rental 0BR 2 0 0 2 0 0 0 0 Ownership 1BR 15 0 0 15 0 0 0 0 Project Type Development Unit Type 2BR 49 0 0 49 0 0 0 0 New Construction Apartment/Condo PBV/VASH: 3BR 19 0 0 19 0 0 0 0 Rehabilitation Townhome 4+BR 0 0 0 0 0 0 0 0 GRH: Preservation Coop TOT 85 0 0 85 0 0 0 0 Senior Shelter Shelter: Transitional Income Averaging Year Built: Scattered Site/Other Homeless: 8 $2,315,000.00 AHTF (2020) TDC: $28,877,633.00 CPED MULTIFAMILY HOUSING DEPARTMENT PROJ#: 651 Page 1 of 2 Affordable Housing Inventory Project Data Worksheet ACT#: 890 10/20/2020 7:34:03 AM Project Status Project Name: Greenway Apartments Proposed: 6/28/2019 Main Address: 2834 12th Ave S Closed: Complete: Project PROJECT Aliases: Additional 2834, 2836, and 2840 12th Ave S and 2837, PHOTO ACP50 Addresses: 2839, and 2843 11th Ave S No Ward: 9 Neighborhood: Midtown Phillips UNAVAILABLE Yes Income Restriction Occupancy UNIT QTY <30% <40% <50% <60% <70% <80% MKT Rental 0BR 17 1 0 4 8 0 4 0 Ownership 1BR 20 2 0 5 9 0 4 0 Project Type Development Unit Type 2BR 20 2 0 5 9 0 4 0 New Construction Apartment/Condo PBV/VASH: 3BR 22 2 0 3 10 0 7 0 Rehabilitation Townhome 4+BR 0 0 0 0 0 0 0 0 GRH: Preservation Coop TOT 79 7 0 17 36 0 19 0 Senior Shelter Shelter: Transitional Income Averaging Year Built: Scattered Site/Other Homeless: 11 GENERAL INFORMATION New construction project in the Midtown Phillips neighborhood located adjacent to the Midtown Greenway bike and pedestrian trail. The project will utilize income averaging and will consist of 79 units including studio, one, two, and three bedroom units at 30%, 50%, 60%, and 80% AMI. The project will also have 11 units that will receive support services and rental assistance from Lutheran Social Services, and those units will be set aside for low income households experiencing homelessness. Partnership: Contact Information: Developer: Owner: Consultant: Kyle Brasser Reuter Walton Development 1710 W Lake St Suite 200 Minneapolis, MN 55408- Phone: (612) 314-4310 ext Fax: [email protected] Contractor: Architect: Property Manager: Scott England Michaels Management DJR Architecture, Inc. Phone: ext- 333 Washington Ave N Suite 210 Fax: (856) 355-1581 Minneapolis, MN 55401- Support Services: Phone: (612) 676-2700 ext- Lutheran Social Services Fax: (612) 676-2796 Phone: (612) 879-5358 ext- Fax: CPED Coordinator: CPED Legal: CPED Construction Mgmt: Oliver Smith CPED 105 5th Ave S Suite 200 Minneapolis, MN 55401- CPED Support Coordinator MPLS Civil Rights Phone: (612) 673-5009 ext- Fax: (612) 673-5036 [email protected] CPED MULTIFAMILY HOUSING DEPARTMENT PROJ#: 651 Page 2 of 2 Affordable Housing Inventory Project Data Worksheet ACT#: 890 10/20/2020 7:34:05 AM Project Status Project Name: Greenway Apartments Proposed: 6/28/2019 Main Address: 2834 12th Ave S Closed: Complete: Project PROJECT Aliases: Additional 2834, 2836, and 2840 12th Ave S and 2837, PHOTO ACP50 Addresses: 2839, and 2843 11th Ave S No Ward: 9 Neighborhood: Midtown Phillips UNAVAILABLE Yes Income Restriction Occupancy UNIT QTY <30% <40% <50% <60% <70% <80% MKT Rental 0BR 17 1 0 4 8 0 4 0 Ownership 1BR 20 2 0 5 9 0 4 0 Project Type Development Unit Type 2BR 20 2 0 5 9 0 4 0 New Construction Apartment/Condo PBV/VASH: 3BR 22 2 0 3 10 0 7 0 Rehabilitation Townhome 4+BR 0 0 0 0 0 0 0 0 GRH: Preservation Coop TOT 79 7 0 17 36 0 19 0 Senior Shelter Shelter: Transitional Income Averaging Year Built: Scattered Site/Other Homeless: 11 USES AND PERMANENT SOURCES Project Uses: Project Permanent Sources: Source / Program Amount % Term Committed Land: $1,000,000.00 Construction: $15,201,660.00 LIHTC 4% - $XX Construction Contingency: $608,066.00 $1,445,000.00 First Mortgage (TIF) Construction Interest: $513,740.00 $415,970.00 Deferred Developer Fee Relocation: $25,000.00 CPED $780,000.00 Developer Fee: $1,963,259.00 AHTF (2020) Legal Fees: $125,000.00 $6,797,778.00 Architect Fees: $456,050.00 Syndication Proceeds Other Costs: $1,457,973.00 $12,412,000.00 Reserves: $500,000.00 First Mortgage TDC: $21,850,748.00 Non-Housing: $0.00 TDC: $21,850,748.00 TDC/Unit: $276,591.00 Financing Notes: CPED MULTIFAMILY HOUSING DEPARTMENT PROJ#: 678 Page 1 of 2 Affordable Housing Inventory Project Data Worksheet ACT#: 923 10/20/2020 10:57:37 AM Project Status Project Name:Simpson Community Shelter & Apartments Proposed: 7/31/2020 Main Address: 2740 1ST AVE S Closed: Complete: Project PROJECT Aliases: Additional PHOTO ACP50 Addresses: No Ward: 10 Neighborhood: Whittier UNAVAILABLE Yes Income Restriction Occupancy UNIT QTY <30% <40% <50% <60% <70% <80% MKT Rental 0BR 42 32 0 10 0 0 0 0 Ownership 1BR 0 0 0 0 0 0 0 0 Project Type Development Unit Type 2BR 0 0 0 0 0 0 0 0 New Construction Apartment/Condo PBV/VASH: 3BR 0 0 0 0 0 0 0 0 Rehabilitation Townhome 4+BR 0 0 0 0 0 0 0 0 GRH: 42 Preservation Coop TOT 42 32 0 10 0 0 0 0 Senior Shelter Shelter: Transitional Income Averaging Year Built: Scattered Site/Other Homeless: 30 GENERAL INFORMATION Project for Pride in Living (PPL) has teamed up with Simpson Housing Services (SHS) to construct a new 5-story building to replace the existing emergency shelter on this site with a new, more dignified, service enriched mixed use development targeting emergency shelter needs and high priority homeless individuals.
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