USDA 515 and HUD preservation renewals for seniors
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John Hartwick, Dawson Holdings, provides information about creating and preserving quality affordable rural housing for seniors using HUD and USDA programs
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USDA 515 and HUD preservation renewals for seniors
- 2. Kachina I & II Apartments 316 N. Avenue A Casa Grande, AZ 85122 50%HUD / 50% USDA
- 3. Kachina I & II Apartments Project Information • The Kachina Apartments I & II is a senior living complex of ninety six (96) 1 bedroom units. Phase I of the complex was originally built in 1979 and Phase II was built in 1981. • 5 units were notated to be fully UFAS compliant. • The property consists of four residential buildings, two laundry facilities, a community room and leasing office and occupies a 7.5 acre lot.
- 4. Kachina I & II Apartments Project Information Lenders • Lenders – CITI – USDA – State of AZ, ADOH – Utah Community Reinvestment Corp
- 5. Kachina I & II Apartments Project Information Kachina 1 • 48 units USDA 515 • Prior Rents $323 • Post Rehab Rents $501 Kachina 2 • 48 units HUD • Prior Rents $503 • Post Rehab Rents $503 Purchase Price - $2,145,000 9% Tax Credits Allocated - $6,385,240 Tax Credits Converted at just over 90 cents on the dollar for rehab. $5.75m spent
- 6. Kachina I & II Apartments Project Information Partners • Partners – Affordable Housing Partners – Tax Credit Syndicators – Pinal-Gila Council for Senior Citizens – USRG, LLC – Precision General Commercial Contractors, Inc
- 7. Kachina I & II Apartments Initial Walk Issues “Sure, No Problem”
- 8. Existing Rooftop Kachina I & II Apartments Initial Walk Issues “Sure, No Problem”
- 9. Kachina I & II Apartments Evolution of Interiors UFES Conversion Units
- 10. Kachina I & II Apartments Evolution of Interiors UFES Conversion Units
- 11. Kachina I & II Apartments Evolution of Interiors UFES Conversion Units
- 12. Kachina I & II Apartments Evolution of Interiors Standard Units
- 13. Kachina I & II Apartments Unit Upgrades HVAC
- 14. Kachina I & II Apartments Unit Upgrades Energy Efficient Lighting
- 15. Kachina I & II Apartments Unexpected Issues Sewer Lines
- 16. Kachina I & II Apartments Unexpected Issues Sewer Lines
- 17. Kachina I & II Apartments Community Building Before
- 18. Kachina I & II Apartments Community Building During & After
- 19. Kachina I & II Apartments Community Building During & After
- 20. Kachina I & II Apartments Leasing Office Before and Reno Plan
- 21. Kachina I & II Apartments Leasing Office After
- 22. Kachina I & II Apartments Rain Harvest System
- 23. Kachina I & II Apartments Rain Harvest System
- 24. Kachina I & II Apartments Rain Harvest System
- 25. Kachina I & II Apartments Solar Panels
- 26. Kachina I & II Apartments Solar Panels
- 27. Kachina I & II Apartments Community Garden Before & During
- 28. Kachina I & II Apartments Community Garden After
- 29. Kachina I & II Apartments Street Appeal
- 30. Kachina I & II Apartments Parking Lot & Concrete Apron
- 31. Kachina I & II Apartments Final Project
- 32. Broadway Senior Center 5200 Broadway Sacramento, CA 95820 100% HUD / Tax Credit
- 33. Broadway Senior Center Project Information • Broadway Senior Center is a senior living complex of 112 - 1 bedroom and 8 - 2 bedroom units. The complex was originally built in 1979. • 6 units were notated to be fully UFAS compliant. • The property consists of 24 residential buildings, and one office building with laundry facilities and a community room. It occupies a 7.5 acre lot in mid-town Sacramento.
- 34. Broadway Senior Center Project Information Lenders • Lenders – US Bank – SHRA – City of Sacramento
- 35. Broadway Senior Center Project Information • 120 units HUD MAHRA 524 (b) 24 units at 50% LIHTC 96 units at 60% LIHTC HUD POA shows preference for 20% of applicants to those with ELI @ 30% below Area Median Income Purchase Price - $7,155,000 Tax Credits Allocated - $3,544,000 Soft SHRA Loans - $2,760,000
- 36. Broadway Senior Center Project Information Partners • Partners – Centerline Investor LP – Tax Credit Syndicators – Community Resident Services, Inc – Sackett Management – Precision General Commercial Contractors, Inc
- 47. Casa De Angelo 3151 Notre Dame Dr Sacramento, CA 95820
- 48. Casa De Angelo Project Information • Casa De Angelo Apartments is a senior living complex of 100 - 1 bedroom units. The complex was originally built in 1979. • 5 units were notated to be fully UFAS compliant. • The property consists of 10 residential buildings, and one office building with laundry facilities and a community room. It occupies a 6.5 acre lot.
- 49. Casa De Angelo Project Information Lenders • Lenders – US Bank – SHRA – City of Sacramento
- 50. Casa De Angelo Project Information • 100 units HUD MAHRA 524 (b) 24 units at 50% LIHTC 96 units at 60% LIHTC HUD POA shows preference for 20% of applicants to those with ELI @ 30% below Area Median Income Purchase Price - $6,605,000 Tax Credits Allocated - $3,301,000 Soft SHRA Loans - $3,495,000
- 51. Casa De Angelo Apartments Project Information Partners • Partners – WNC Housing, LP – Tax Credit Syndicators – Community Resident Services, Inc – Sackett Management – Precision General Commercial Contractors, Inc
- 55. Casa De Angelo Evolution of Community Room
- 56. Casa De Angelo Evolution of Community Room
- 57. Casa De Angelo Evolution of Community Room
- 58. Casa De Angelo Energy Efficiency
- 59. Casa De Angelo New Interiors
- 60. Casa De Angelo New Interiors