Grimm + Parker Architects is proud to be part of the Monarch Mills team, awarded Best Large Affordable Housing Project at the 2013 HAND conference. Grimm + Parker worked with Howard County Housing (HCH) and Shelter Development to transform the former 100-unit Guilford Gardens multifamily community located at 7600 Monarch Mills Way, Columbia, MD.
The newly designed Monarch Mills has created a sustainable, mixed income and multigenerational community with 224 market rate and low income garden apartments and 45 market rate and low income senior apartments.
The original project, designed by Grimm + Parker in the 1970’s, had become obsolete and needed additional density. The new development is built at three times the previous density, while adding two acres of green space for residential use. Sustainability was a key focus. The development has received Green Communities Certification and the Clubhouse is LEED Gold Certified.
Monarch Mills includes both programmed and un-programmed amenity space. In addition to playgrounds and a swimming pool, the development has a community building, senior center and an after school classroom staffed by volunteers from the community. Children receive homework help and tutoring, while several community groups use the space for their programs.
The project was made possible due to a layered financing plan secured by Shelter Development, and was completed with sensitivity to existing residents. The team used a staggered construction schedule to ensure families were not displaced off site.
HCH’s commitment to mixed-income housing development carried through to the units themselves – the finishes are identical in the market rate and low income units; while the sustainability measures employed have lowered utility costs for both the owner and the tenants.
The success of the Monarch Mills developed is already being replicated in other HCH projects. Grimm + Parker is proud to be part of this success!
With the theme “A Celebration of Collaboration. Innovation. Transformation.,” HAND’s 2013 Annual Meeting & Housing Expo presented nine awards to individuals, organizations and programs that have positively impacted communities and neighborhoods throughout the region. Among those honored on June 11 was David Reznick, who received the President’s Award for Lifetime Achievement in recognition of his nearly 40 years leading industry-changing financing strategies that have helped create thriving communities and homes for families with low-incomes, nationwide.
“David’s leadership and competency in demystifying the complexities of the Low Income Housing Tax Credit program gave the nonprofit sector the confidence to use it to further their mission and help countless families access housing they can afford,” said Nina Janopaul, President, HAND. “We all want to say ‘thank you’ to David for helping us get started and keeping us moving forward.”
In addition to his HAND Housing Achievement award, HAND also surprised Mr. Reznick with a surprise tribute video featuring his colleagues, families and friends sharing heartfelt accolades about his impact on the affordable housing and community development industry. Thank you to Enterprise Community Partners for sponsoring the 2013 President’s Award Tribute Video.
At a time when affordable housing options are in short supply across the country, the 400-year-old community of Hopewell, Virginia is making plans to improve and expand its workforce housing stock. Thought by some to be the nation’s oldest continuously occupied settlement, the City of Hopewell and the Hopewell Housing Redevelopment Authority (HRHA) are actively working to improve the community’s affordable housing inventory.
Using funding from the Low-Income Housing Tax Credit (LIHTC) program and the U.S. Department of Housing and Urban Development’s (HUD) new Rental Assistance Demonstration (RAD) program, HRHA and Community Housing Partners (CHP) are teaming up to redevelop a 30-unit public housing community called Langston Park Apartments. The funding of the redevelopment is significant in that it will be the first in the state financed by the RAD program using the highly competitive 9 percent Tax Credits administered by the Virginia Housing Development Authority (VHDA).
As the nonprofit owner, developer, architect, and contractor of the Langston Park Apartments, CHP will use environmentally-responsible practices and products to upgrade the five-and-a-half-acre community to 56 energy-efficient EarthCraft-certified rental homes for area families. Located at 1011 Winton Churchill Drive, the mixed-income project will involve demolition of the existing out-of-date units and construction of 26 new two-bedroom apartments, 26 three-bedroom apartments, and four 4-bedroom apartments. The community will serve families and individuals earning at or below 50 percent of the Area Median Income (AMI), with 30 of the apartments receiving residents with HUD project-based rental assistance through the RAD program.
David Schultz, CHP’s vice president of development, stated, “CHP is honored to have been chosen by HRHA as the Master Developer for Langston Park and we are excited to have received the first two RAD awards in Virginia. The final piece of the funding puzzle came together this week when Virginia Housing Development Authority (VHDA) awarded our partnership 9 percent low-income housing tax credits to help revitalize this important community asset. Without their support of this project, the revitalization of Langston Park would not have been viable.”
Executive Director of HRHA Steven Benham said, “There is a need for quality affordable housing in Hopewell. Most of the existing public and low-income housing in the city is functionally obsolete, although much effort is being put into maintaining this stock. Our partnership with CHP and VHDA begins our process of changing the current face of affordable housing for our citizens. I am grateful for the hard work by so many involved in getting us to this point. I eagerly anticipate our continuing progress towards creating a quality community for Hopewell residents.”
The RAD program is a central part of HUD’s rental housing preservation strategy that was initiated in September of 2012 and provides a mechanism for housing authorities to convert public and assisted housing properties to project-based or long-term Section 8 rental assistance communities. The program allows properties to be redeveloped, rehabilitated, and financed as stable, long-term assets.
The LIHTC program is administered in Virginia by VHDA and encourages the development and rehabilitation of affordable rental housing by providing owners with federal income tax credits for units meeting the program’s requirements.
Construction at Langston Park Apartments is expected to begin later this year.
About Hopewell Redevelopment and Housing Authority (HRHA)
Created in 1939, the Hopewell Redevelopment and Housing Authority’s mission is to promote adequate and affordable housing, economic opportunity and a suitable living environment free from discrimination. One of HRHA’s goals is to revitalize its complete housing portfolio and be a catalyst for the revitalization of housing in the city of Hopewell and the Tri-cities region.
About Virginia Housing Development Authority (VHDA)
VHDA is a self-supporting, not-for-profit organization created by the Commonwealth of Virginia in 1972 to help Virginians attain quality, affordable housing. VHDA provides mortgages, primarily for first-time homebuyers and developers of quality rental housing. It uses no state taxpayer dollars, but raises money in the capital markets to fund its loans. VHDA also teaches free homeownership classes, and helps people with disabilities and the elderly make their homes more livable. VHDA works with lenders, developers, local governments, community service organizations and others to help put quality housing within the reach of every Virginian.
About Community Housing Partners
Community Housing Partners (CHP) is a 501(c)(3) community development corporation established in 1975 to serve the needs of low-income and low-wealth individuals in the Southeast. Our mission is to create affordable, green, sustainable housing opportunities and services for the people and communities we serve. CHP’s activities include real estate development, architectural design, construction, energy services, homeownership, property management, and resident services. We are a chartered member of NeighborWorks America, and a member of both the Housing Partnership Network and the Federation of Appalachian Housing Enterprises (FAHE). To learn more about CHP, visit www.communityhousingpartners.org.
HomeAid Northern Virginia will celebrate the $250,000 renovation of an eight-unit transitional shelter—the Loudoun Transitional Housing Program — on June 10, 2013 at 10:00 am. HomeAid partnered with Loudoun County and Volunteers of America Chesapeake to renovate these apartments, which are used as transitional housing for homeless families and single women. View photos prior to the renovation and in progress.
Builder Captains Miller & Smith and Winchester Homes and 32 trade partners helped the shelter realize an 85% savings on the cost of this renovation. All eight apartments now have maximum storage space and include new: kitchens with granite countertops, seating and custom-designed tables with peninsula tops; bathrooms with custom shelving; laminate hardwood flooring in the entry and living areas; light fixtures, electrical and plumbing; built-in storage by each bed; bedding, doors, blinds and wire closet shelving systems; and interior furnishings.
“It’s difficult to summarize just how much this renovation will positively impact the families and individuals that will live in these apartments,” said Russell S. Rosenberger, Jr., president, Madison Homes, Inc. and president, HomeAid Northern Virginia. “An updated, welcoming, clean home provides the foundation that the homeless need to plan for their futures. It’s amazing how committed the builder captains and trade partners involved in this project are to helping serve the homeless in our community.”
“We couldn’t have imagined the transformation made possible by this partnership,” said Russell K. Snyder, president of Volunteers of America Chesapeake. “Our staff works hard to help inspire self-reliance, dignity and hope in all our clients and the renovated apartments are a blessing to help them along this journey.”
“Winchester Homes is very pleased to contribute to a project that will make a difference in the lives of citizens in Loudoun County,” said John Monacci, executive vice president, Winchester Homes. “The great work that is accomplished at the shelter every day is inspirational, and it is gratifying to play a role in advancing their efforts.”
Intern: Brett Weil, pursuing MS Finance University of Baltimore
Organization: Walker & Dunlop, FHA Finance Department
In 2009, with the economy stagnating, I decided to pursue a master’s degree in finance to leverage economic expertise with my experience in real estate sales and project management. During the degree program, I realized that I would also need industry-specific education, training and networking to bridge the knowledge gap from real estate operations to finance. In the spring of 2012, I joined HAND as a student member for the outstanding opportunities the organization provides in the field of affordable housing. It was actually, a director of another local housing organization that directed me to HAND for a superior experience with the largest universe of firms, professionals, education and opportunity.
I was extremely pleased with the opportunities which I found at HAND as well as the professional members who were both friendly and knowledgeable. In March 2012, I attended the seminar “Year 15 and Strategies for HUD-assisted Properties” at L’Enfant Plaza Hotel, next to HUD headquarters. The speakers were highly-accomplished veterans at the top of their field. The purpose of the gathering was to share strategies how to maintain affordable status for tax credit properties nearing the end of the 15 year compliance period.
At that event, I shared my goal of obtaining an internship in apartment finance with various professionals whom I met. One member who is a lender actually arranged an offer with her firm, but the location would not have been feasible. I also spoke with Jerry Distefano, Business Development Manager with Reznick Group accountants (now CohnReznick) who offered to assist in my internship search. Later that day, I sent him my resume which he forwarded to Benjy Krosin, a loan originator at Walker & Dunlop. Krosin passed my resume to the head of the FHA (Federal Housing Authority) Finance department, Michelle Warner. Warner was most recently chief underwriter/program manager for Deutsche Bank Berkshire Mortgage where she oversaw loan structuring, credit risk management, program compliance, HUD relationships and staff across the country. A few days later, an onsite interview followed and I was offered the FHA internship. I can testify to the importance of networking, as the FHA finance opening had not been published.
During my internship, I worked with an originator and underwriter and became familiar with the following tasks: FHA-MAP (multifamily) loan refinance prospects using a HUD loan database, looking for selected loans with large unpaid balances, high interest rates, and acceptable prepayment timeframe. Using company/industry benchmarks and altered scenarios in sensitivity analysis, initial sizing resulting in proposal summary sheets, identifying borrower contact details, utilizing his prospecting skills. I also helped underwrite loans by requesting and filing financial documents and 3rd part reports (appraisal, environmental, capital needs) and inspected the appraisals for flaws in hopes of receiving the most accurate value.
HAND is an incredible resource that connects the affordable housing world and provides top-notch industry-specific education, training and networking. Thank you to the staff, board members, sponsors and members who make it all possible!
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