usda 515 and hud preservation renewals for seniors
DESCRIPTION
John Hartwick, Dawson Holdings, provides information about creating and preserving quality affordable rural housing for seniors using HUD and USDA programsTRANSCRIPT
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Quality Is Affordable
Dawson Holdings, Inc
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Kachina I & II Apartments316 N. Avenue A
Casa Grande, AZ 8512250%HUD / 50% USDA
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Kachina I & II ApartmentsProject 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.
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Kachina I & II ApartmentsProject Information
Lenders
• Lenders– CITI – USDA – State of AZ, ADOH– Utah Community
Reinvestment Corp
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Kachina I & II ApartmentsProject 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
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Kachina I & II ApartmentsProject Information
Partners
• Partners– Affordable Housing
Partners – Tax Credit Syndicators
– Pinal-Gila Council for Senior Citizens
– USRG, LLC – Precision General
Commercial Contractors, Inc
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Kachina I & II ApartmentsInitial Walk Issues“Sure, No Problem”
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ExistingRooftop
Kachina I & II ApartmentsInitial Walk Issues “Sure, No Problem”
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Kachina I & II ApartmentsEvolution of InteriorsUFES Conversion Units
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Kachina I & II ApartmentsEvolution of InteriorsUFES Conversion Units
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Kachina I & II ApartmentsEvolution of InteriorsUFES Conversion Units
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Kachina I & II ApartmentsEvolution of Interiors
Standard Units
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Kachina I & II ApartmentsUnit Upgrades
HVAC
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Kachina I & II ApartmentsUnit Upgrades
Energy Efficient Lighting
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Kachina I & II ApartmentsUnexpected Issues
Sewer Lines
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Kachina I & II ApartmentsUnexpected Issues
Sewer Lines
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Kachina I & II Apartments
Community Building Before
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Kachina I & II ApartmentsCommunity Building
During & After
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Kachina I & II ApartmentsCommunity Building
During & After
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Kachina I & II ApartmentsLeasing Office
Before and Reno Plan
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Kachina I & II ApartmentsLeasing Office
After
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Kachina I & II ApartmentsRain Harvest System
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Kachina I & II ApartmentsRain Harvest System
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Kachina I & II ApartmentsRain Harvest System
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Kachina I & II ApartmentsSolar Panels
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Kachina I & II ApartmentsSolar Panels
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Kachina I & II ApartmentsCommunity Garden
Before & During
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Kachina I & II ApartmentsCommunity Garden
After
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Kachina I & II ApartmentsStreet Appeal
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Kachina I & II ApartmentsParking Lot & Concrete Apron
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Kachina I & II ApartmentsFinal Project
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Broadway Senior Center 5200 Broadway
Sacramento, CA 95820100% HUD / Tax Credit
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Broadway Senior CenterProject 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.
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Broadway Senior CenterProject Information
Lenders
• Lenders– US Bank – SHRA– City of Sacramento
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Broadway Senior CenterProject Information
• 120 units HUD MAHRA 524 (b)
24 units at 50% LIHTC96 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
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Broadway Senior CenterProject Information
Partners
• Partners– Centerline Investor LP
– Tax Credit Syndicators
– Community Resident Services, Inc
– Sackett Management– Precision General
Commercial Contractors, Inc
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Broadway Senior
Before
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Broadway Senior
Before
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Broadway Senior
Exterior Conversion
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Broadway Senior
Exterior Conversion
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Broadway Senior
Exterior Conversion
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Broadway Senior
Exterior Conversion
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Broadway Senior
Exterior Conversion
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Broadway Senior
Interior Conversion
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Broadway Senior
Interior Conversion
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Broadway Senior
After
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Casa De Angelo 3151 Notre Dame Dr
Sacramento, CA 95820
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Casa De AngeloProject 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.
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Casa De AngeloProject Information
Lenders
• Lenders– US Bank – SHRA– City of Sacramento
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Casa De AngeloProject Information
• 100 units HUD MAHRA 524 (b)
24 units at 50% LIHTC96 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
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Casa De Angelo ApartmentsProject Information
Partners
• Partners– WNC Housing, LP –
Tax Credit Syndicators– Community Resident
Services, Inc– Sackett Management– Precision General
Commercial Contractors, Inc
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Casa De AngeloBefore
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Casa De AngeloBefore
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Casa De AngeloBefore
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Casa De AngeloEvolution of Community Room
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Casa De AngeloEvolution of Community Room
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Casa De AngeloEvolution of Community Room
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Casa De AngeloEnergy Efficiency
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Casa De AngeloNew Interiors
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Casa De AngeloNew Interiors
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Casa De AngeloCompleted
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Casa De AngeloCompleted
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Casa De AngeloCompleted
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Quality Is Affordable
Dawson Holdings, Inc