Professional Documents
Culture Documents
Project Description
Project Name: Clara Cox Apartments Phase II
Address: 621 East Grimes Avenue
Will the project meet Energy Star standards as defined in Appendix B? Yes
Will the project include a Community Service Facility under IRS Revenue Ruling 2003-77?
No
If yes, please describe:
Target Population:Family
Will the project be receiving project based federal rental assistance? Yes
Applicant Information
Indicate below an individual or a validly existing entity (a corporation, nonprofit, limited partnership or LLC) as the official applicant. Under
QAP Section III(C)(5) only this individual or entity will be able to make decisions with regard to this application. If awarded the applicant
must become part of the ownership entity. The applicant will execute the signature page for this application.
Applicant Name: Crosland, LLC
Address: 227 West Trade Street, Suite 800
Telephone: (704)561-5235
Fax: (704)525-3562
Site Description
Identify utilities and services currently available (and with adequate capacity) for this site:
Is the site directly accessed by an existing, paved, publicly maintained road? Yes
If no, please explain:
Is any portion of the site located inside the 100 year floodplain? No
If yes:
(a) Describe placement of project buildings in relation to this area:
(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:
Site Control
Does the owner have fee simple ownership of the property (site/buildings)?No
If yes provide:
If no:
(a) Does the owner/principal or ownership entity have valid option/contract to purchase the property?Yes
(b) Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity with the option/contract for
purchase of the property and the seller of the property?Yes
If yes, specify the relationship:
The Clara Cox site is owned by The Housing Authority of the City of High Point (HPHA) and has been since
circa 1940. HPHA has granted an option for a 99 year long lease at the cost of $1,000 per year for the
property to Crosland Clara Cox, LLC, which will serve as the managing member of the Clara Cox
development ownership entity. Low Income Opportunities (LIHO) or an affiliated corporation, a non-profit
affiliate of HPHA, will also be a principal in the Clara Cox Apartments Phase II ownership entity.
(c) Enter the current expiration date of the option/contract to purchase: 6/30/2010
Zoning
Present zoning classification of the site:RM-18
Are variances, special or conditional use permits or any other item requiring a public hearing needed to develop this proposal?No
If yes, have the hearings been completed and permits been obtained?
If yes, specify permit or variance required and date obtained. If no, describe permits/variances required and schedule for
obtaining them:
Are there any existing conditions of historical significance located on the project site that will require State Historic Preservation office
review?No
If yes, describe below:
Are there any existing conditions of environmental significance located on the project site?No
If yes, describe below:
Ownership Entity
Org: Low Income Housing Opportunities (or an affiliated corporation), and affiliate of HPHA
First Name: Robert Last Name: Kenner Function: Member
Address: 500 East Russell Avenue
City: High Point State: NC Zip: 27260
Unit Mix
The Median Income for Guilford county is $58,500.
Statistics
Market Rate.......
Totals............... 92 10 46371
Project Includes:
Separate community building - Sq. Ft. (Floor Area): 4,997
Indicate below any additional targeting for special populations proposed for this project:
Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to the units required by other federal and
state codes.)
Number of Units: 5
Number of Units: 10
Notes
** Please refer to the Income Limits and Maximum Housing Expense Table to ensure that Total Monthly Tenant Expenses for low
income units are within established thresholds.
Targeting
Specify Low Income Unit Targeting in table below. List each applicable targeting combination in a separate row below. Click [Add] to
create another row. Click "X" (at the left of each row) to delete a row. Add as many rows as needed.
# BRs Units %
Note: This number should match the total number of low income units in the Unit Mix section.
Funding Sources
Amort. Annual
Non- Rate Term Period Debt
Source Amount Amortizing* (%) (Years) (Years) Service
Bank Loan
RPP Loan
RD 515 Loan
AHP Loan
Non-Repayable Grant
Owner Investment
Other - Specify:
* "Non-amortizing" indicates that the loan does not have a fixed annual debt service. For these items, you must fill in 20-year debt
service below.
** Total Sources must equal total replacement cost in Project Development Cost (PDC) section.
Local sources are still being identified. Funding requests will be made to the High Point Housing
Authority and the City of High Point.
Development Costs
Eligible Basis
Item Cost Element TOTAL COST
30% PV 70% PV
1 Purchase of Building(s) (Rehab / Adaptive Reuse only) 0
4 Rehabilitation 0 0
6 Accessory Building(s) 0 0
24 Bond Costs 0
26 Placement Fee 0
33 Tax Credit Allocation Fee (0.62% of line 60, minimum $7,500) 80,000
36 Organizational (Partnership) 0
39 Relocation Expense 0 0
42 Other Basis Expense (specify) MWBE Study, City Plan Review Fee 8,000 8,000
64 Land Cost 0
Comments:
We believe that such affordable units will be in high demand, and a 2007 market study (included with this
application as a reference) found no comparable units in the market that have been built and/or funded
since 2006 and very few contemporary affordable units for a number of years before 2006. This study also
identified over 2,500 households as the demand base for this development. These households include new
residents and existing area residents who are rent overburdened or currently living in substandard housing.
The Clara Cox Redevelopment effort is also strongly supported by institutions within the community. The
sponsor of this redevelopment effort, the High Point Housing Authority (HPHA), has received letters of
support from Guilford Technical Community College (a well-respected community college with a campus
located within the West Macedonia neighborhood), The West Macedonia Family Resource Center (a
community center and daycare facility providing training, resources and neighborhood programs to
residents within the neighborhood) and SHARE (a nonprofit builder committed to building new and
rehabilitated homes within the neighborhood). All of these organizations support the continued revitalization
of the West Macedonia community, of which the redeveloped Clara Cox Apartments will become a critical
part. Clara Cox Apartments will bring high-quality, affordable, rental housing to a community where this is
greatly needed, and will be a logical complement to the significant, ongoing revitalization of the single family
portions of the West Macedonia neighborhood.
Other:
Have you built other tax credit developments that use the same building design as this project?Yes
If yes, please provide name and address:
The designs used in Clara Cox Phase Two complement Phase One and have been adapted from another
development. Similar craftsman style town houses are found in the Crosland development located in The
Havens at Willow Oaks in Greensboro, NC. These designs have been enhanced to distinguish Clara Cox
from previous developments and complement new designs of two and three story garden apartment
buildings containing one, two and three bedroom flats, which will also be part of the product mix at Clara
Cox.
Site Amenities:
Clara Cox Apartments’ separate community building will house a computer center, laundry facilities,
exercise room, general assembly space and a covered patio as well as on-premises management offices
and maintenance shop. In addition, the site will include a pool, separate mail kiosk, gazebo, two covered
picnic areas, several outdoor sitting areas, and a children’s playground.
Onsite Activities:
Onsite activities at Clara Cox Apartments will be coordinated by residents and the property management
staff of the community and may be supported by various community organizations. Activities will be held in
the clubhouse’s general assembly space or computer center, outdoor picnic area, playground or other
community green space.
Landscaping Plans:
The landscaping budget for Clara Cox Apartments is substantially above what is required. Plans include an
emphasis on planting trees and/or protecting existing trees so that the community will benefit from
substantial shade over the coming years. Landscaping plans also focus on highlighting key areas of the site
such as the entrance, the courtyard and other common green spaces. Landscaping plans exceed all
landscaping requirements as designated by the NCHFA.
Do you plan to submit additional market data (market study, etc.) that you want considered? Yes
If yes, please make sure to include the additional information in your pre-application packet.
NEIGHBORHOOD CHARACTERISTICS
Trend and direction of real estate development and area economic health. Physical condition of buildings and
improvements in the immediate vicinity. Concentration of affordable housing.
The Clara Cox site is located in the West Macedonia neighborhood in High Point, NC. The West Macedonia
community is one of eight neighborhood districts designated in the City of High Point’s Core City Master
Plan for neighborhood revitalization and mixed use development. The West Macedonia neighborhood is a
portion of in the Greene Drive Mixed Use Center, an area of High Point identified in the City’s revitalization
plan. For this area, the plan which recommends development of infill housing and mixed uses where people
can live, work, shop and play and have daily goods and services accessible to neighborhood residents. Full
achievement of this plan will enhance the area surrounding West Macedonia and bring greater strength to
its own revitalization movement.
Since the community revitalization plan was adopted in 1999, the neighborhood has improved considerably
through the new construction and rehabilitation of housing (ongoing), development of a new community
center and park (2003), community college expansion of Greensboro Technical Community College
regarding its programming and campus, which is located within the neighborhood (ongoing), and the
demolition of the former Clara Cox public housing units (2005).
The redeveloped Clara Cox Apartments also will be a significant contributor to the continued revitalization of
the neighborhood. The site is 20 acres located at the north end of the neighborhood’s residential area.
Uncertainty about the future of this site has limited community improvement in the area immediately
adjacent to the site. However, even without redevelopment of Clara Cox, the redevelopment of other
housing in the West Macedonia neighborhood has considerable momentum. These redevelopment efforts
have been and continue to be supported by the City staff’s rigorous code enforcement of existing housing in
the past several years. Currently, there are at least 22 properties in the West Macedonia neighborhood
facing code enforcement action, which is driving improvement in the condition and quality of existing
housing and the demolition of dilapidated housing. Furthermore, not only are individual owners rehabilitating
and building new houses on some lots, but SHARE (a non-profit builder of affordable houses) has been and
remains active in the West Macedonia neighborhood. Since 2004, there have been at least 55 new or
rehabilitated units in the neighborhood deveoped by SHARE, the High Point Housing Authority (HPHA) or
private owners. Also, High Point Housing Authority plans to acquire an additional 10 sites in the West
Macedonia neighborhood in 2009.
The economic profile of the community is consistent with other areas targeted for revitalization, and as
such, the demand for affordable housing here is strong. HPHA is located across Park Street from the Clara
Cox site. HPHA owns several other properties in the neighborhood besides the Clara Cox site. HPHA is
committed to delivering quality housing to its residents through the new construction of units on the sites
that it owns and to improve and rehabilitate its existing property. In 2007, HPHA built two duplexes (4 new
units) near its offices on Park Street. In 2008, it invested approximately $116,000 to construct a new single
family house and made capital improvements to some of its other properties in the West Macedonia
community. These sites are shown on an accompanying map of the neighborhood. HPHA is committed to
completing the entire 20 acre Clara Cox site over the next few years. The new Clara Cox Apartments will
further support and accelerate the already significant redevelopment and revitalization of the West
Macedonia neighborhood.
Please see the West Macedonia Neighborhood Revitalization Map located in tab B for additional
information about revitalization efforts here.
Land use pattern is residential in character (single and multifamily housing). Extent that the location is
isolated. Effect of industrial, large-scale institutional or other incompatible uses, including but not limited to:
wastewater treatment facilities, high traffic corridors, junkyards, prisons, landfills, large swamps, distribution
facilities, frequently used railroad tracks, power transmission lines and towers, factories or similar operations,
sources of excessive noise, and sites with environmental concerns (such as odors or pollution). Amount and
character of vacant, undeveloped land. The West Macedonia community, including the Clara Cox site, is
adjacent to the High Point city center. Main Street is just three blocks west of the site. The West Macedonia
residential neighborhood is located primarily to the southwest/south of the site. The HPHA offices are located
to the immediate west of the site across Park Street, and a City of High Point maintenance facility is located
to the immediate north of the site across Russell Avenue. While the HPHA and City facilities are not
residential in nature, neither has a significantly detrimental impact on the community. Of particular note, is the
low level of activity and traffic that utilizes Russell Avenue. The facility is not noisy and does not produce any
fumes or have an otherwise negative impact on the neighborhood. Further west of the site are several
furniture showroom properties associated with one of the City’s primary business industries. Further north
and west of the site are some retail stores and the County and City municipal complex. Other than the Clara
Cox site, large tracts of vacant and undeveloped acreage is not found in this center city neighborhood. Some
vacant lots exist as older, dilapidated houses have been demolished. However, we believe that these lots will
be redeveloped along with the ongoing revitalization of the community. In summary, the site is connected not
only to the residential community in West Macedonia, but also it is well connected to the broader City.
Though the surrounding land uses are mixed in nature, they have a predominately positive affect on the site’s
access and proximity to jobs, retailing and other amenities in the area and to High Point’s center city, just a
few blocks away. Please see the Neighborhood Amenities Map located in tab B for additional information.
SITE SUITABILITY
Adequate traffic safety controls (i.e. stop lights, speed limits, turn lanes). Burden on public facilities
(particularly roads). Access to mass transit (if applicable). Visibility of buildings and/or location of project sign
(s) in relation to traffic corridors. Because there were as many as 240 units formerly on the Clara Cox site
without straining available public facilities, we are confident that our proposed Clara Cox project will not
burden public facilities. Access to mass transit is excellent. One bus stop is located on the northwest corner
of the site, and another is located one block south of the site. Additionally, the High Point transit terminal is
located less than one half mile from the site. High Point’s AMTRAK station is also nearby. Clara Cox
Apartments’ Phase One site plan calls for the construction of new private streets and the extension of
existing public streets. All have been designed so as to manage traffic flow throughout the site and avoid
substantial vehicular stacking. Finally, the site is visible from key thoroughfares of Park Street and Russell
Avenue. Site signage is planned at the corner of Russell Avenue and Park Street and at the community’s
primary entrance on Park Street.
Degree of on-site negative features and physical barriers that will impede project construction or adversely
affect future tenants; for example: power transmission lines and towers, flood hazards, steep slopes, large
boulders, ravines, year-round streams, wetlands, and other similar features (for adaptive re-use projects-
suitability for residential use and difficulties posed by the building(s), such as limited parking, environmental
problems or the need for excessive demolition).
There are no on-site negative features that will impede construction. The site has a sloping topography that
will require some retaining walls. Our proposed site plan appropriately positions buildings in response to this
condition.
For each applicable neighborhood feature, enter distance from project in miles.
0 Public Transportation
.75 Schools
Stop
Please see the Neighborhood Amenities Map located in tab B for additional information.
The following enclosures must be submitted along with your signed preliminary application. Some enclosures are required only under
certain conditions. Please check each applicable item to indicate that you understand the enclosure requirements and will enclose the
correct supporting documentation with your application.
Fee Payment
Check in the amount of $5,450.00 made payable to North Carolina Housing Finance Agency.
Tab A - Preliminary Application
Printed, signed copy of preliminary application generated from online system.
B - Map/Driving Instructions
A local map clearly identifying the location of the Site and detailed directions to the Site. Current City or County maps are preferred
– internet maps and directions are not acceptable. Applicant must also provide a map identifying the amenities listed in section IV
(A)(1)(b)(ii) of the QAP and their proximity to the site.
Applicant must provide a sign and boundary markers to clearly identify the road frontage of the site. The sign identifying the site
should read “SITE” with a minimum size of 11x17.
C - Community Revitalization Plan
Applicant should provide a map identifying the subject site within the Plan area (if applicable).
D - Evidence of Site Control
Provide valid option/contract or warranty deed and plot plan.
E - Site Plans/Scope of Work
Preliminary site plan, floor plans and elevations for all projects, interior and exterior photographs and detailed scope of work for
Adaptive Reuse and Rehab projects. Site and floor plans should be no larger than 11x17 and must be produced by a licensed
architect or engineer.
F - Information Package for Market Analysts
This section must include copies of items required in Tabs A, B, E and G (site and floor plans should be no larger than 11x17) and
can include any additional market information such as preliminary market studies the applicant would like to provide to the
Analysts.
G - Rent Roll (Rehabs only)
Provide the current rent roll for the property and indicate which units (if any) are receiving rental assistance.
H - Documentation for Basis Boost
Applicant should provide an appraisal and/or standard geological survey to support a request for the basis boost (if applicable).