DEVELOPING SMALL-SCALE HOUSING AND OWNER … 17_a_gulotta.pdf · 11/05/2017 · Christopher Gulotta . The Gulotta Group, LLC . 717-580-0439 . [email protected] . Title: Session

DEVELOPING SMALL-SCALE HOUSING AND OWNER-OCCUPIED REHABILITATION PROJECTS PHOENIX COURT APARTMENTS MOUNT CARMEL TOWNSHIP, NORTHUMBERLAND COUNTY

2017 COMMONWEALTH HOUSING FORUM

MAY 11, 2017

PROJECT BACKGROUND

• The impetus for this project was to repurpose blighted properties.

• The County’s effort to address blight began in 2012.

• Property Information

All structures were tax delinquent.

All properties were contiguous.

Properties were all located in the village of Atlas.

PROJECT BACKGROUND (CONT.)

Property History • The Township acquired the properties from the County

Repository. • The Township demolished the properties using Act 137 and

municipal funds. • The Township conveyed the properties to the eventual

developer (the Housing Authority of Northumberland County).

• Fire damaged several of the properties in October 2014.

Before

Before

PROJECT CHARACTERISTICS • Scope: (5) One Bedroom Garden Apartments, each with zero step

entrance at the rear of the property • Population: Age Targeted (62+) Incomes at 50% of the AMI One unit targeted to a household with a behavioral health disability

• Developer: Housing Authority of Northumberland County • Occupancy: May 1, 2017

PROJECT FINANCING PLAN

• HOME ($603,000) • Act 137 ($100,000) • FHLB AHP ($72,500) • Reinvestment ($55,000) • CDBG ($40,000) Note: curbing and sidewalks in Public ROW • Total Development Cost: $870,500

PROJECT CHALLENGES

• Affordability of Units Project Based Vouchers • Development Cost Per Unit Additional Sources of Funds

SUGGESTIONS

•Put together an experienced development team (developer, architect, engineer, attorney).

• Plan for additional funding sources in case the bidding environment results in high bids.

•Look at ways to cut costs by reusing architectural drawings, waiver of fees, etc.

Phoenix Court Apartments

Phoenix Court Apartments

Phoenix Court Apartments Rear

Phoenix Court Apartments

Bedroom Living

Phoenix Court Apartments

Bathroom

CONTACT INFORMATION

Christopher Gulotta The Gulotta Group, LLC 717-580-0439 [email protected]