Presentation on theme: "Downtown Hillsboro Development Bienestar The Nielson Group Housing Authority of Washington County Scott Edwards Architecture Walsh Construction Cascade."— Presentation transcript:
Bienestar The Nielson Group Housing Authority of Washington County Scott Edwards Architecture Walsh Construction Cascade Management Villages Northwest
Project = $11.2 million Rents: One bedroom - $684 - $774 (inc utilities) Two bedroom - $800 - $894 (inc utilities) Timeline: Begin construction December, 2015
52 apartments for seniors 62+ High priority need in 2010-2015 Consolidated Plan 44 units at or below 60% AMI; 8 units at 30% AMI or below Transit-oriented multifamily with elevator Green building with sustainable features Onsite management and maintenance 2541 sq. ft. Community Room Laundry rooms on each floor Extensive resident service programs, including participation in Village Without Walls. Recetas Café adjacent Lifelong Housing Certification Project – Disabilities, Aging, and Veteran Services Meals on Wheels satellite lunch site Market Study indicates marginal demand at 1,393 units. Opportunity Map score of 5
Village Without Walls A Village is a group of members in nearby neighborhoods who commit to help each other thrive and do what's needed to age affordably in their own homes Village Without Walls (VWW), in formation, will be an inclusive, interdependent community where everyone can age in place and live in homes of their choice safely, affordably, happily and healthfully for as long as possible and will: – Provide volunteers to do many tasks and services and social activities, – Connect neighbors to one another and to existing local resources – Use the skills and talents of members & other community volunteers to provide cost-effective support – Develop strategic partnerships with local businesses, government agencies, & nonprofit organizations on behalf of its members – Assists its members to access and coordinate the services they need to successfully age-in-place Bienestar will be a member of VWW (on behalf of its residents) and will promote Village activities and provide an office and community space for Village activities.
Benessere Village Financing Approach Land Acquisition – November 2012 (interim NOAH and CHF loans) to Bienestar. – Loans repaid out of construction loan proceeds – Bienestar to own land and ground lease the site to the proposed developments Site partitioned (two tax lots) to accommodate the respective Benessere Village improvements and Donelson House renovation. Limited Partnership to own Benessere Village – Bienestar will ground lease the site to the owner. – Improvements to be financed with HOME ($1.5M), LIHTC, GHAP, Weatherization, and debt with OAHTC’s, and financed SDC’s secured by the land. – The Housing Authority of Washington County is anticipated to be a special limited partner in the project bringing the 8 project based vouchers and property tax exemption (PILOT). Construction costs include a 3% escalation and a 6% design contingency.