Professional Documents
Culture Documents
REDEVELOPMENT
Current Status
KHRA awarded portfolio-wide RAD
program for all of its public housing
KHRA & Pennrose not selected for 9%
tax credits for new construction of Lee
KHRA & Pennrose began investigating
alternatives to redevelopment
Redevelopment Activity
Demolish All of Lee Apartments
Build approximately 51 New Units
on Lee Site
Holly Hills
Apts.
Redevelop all of KHRAs
stock
Tiffany Court
including:
Cloud Apartments
Dogwood Terrace
Charlemont Apts
Portfolio Breakdown*
*Riverview Place (38 units) not included
Developments
Current
New/Rehab
Lee
128
51
Cloud
189
189
Holly Hills
84
84
Dogwood
76
76
Tiffany Court
14
14
Charlemont
15
Total
491
429
Type of Unit
RAD Units
184
126
LIHTC
119
TOTAL
429
WHO IS
PENNROSE?
Construction
Completed:
December 2015
Units:
84 Total
42
RAD
LIHTC
$12,900,
000
HOME
$1,800,0
00
FHLB
AHP
$500,000
TOTAL:
$15,200,
000
Before
After
Economic Impact
TOTAL Economic Impact
51 New Apartments
378 Rehab Apartments
TOTAL Jobs Supported
$21,737,273
$ 9,374,109
$ 12,363,164
199
$17,165,000
$7,896,000
$1,000,000
$3,201,000
$500,000
$0
$779,000
$17,028,000
$3,012,000
$50,581,000
$21,548,000
$1,557,000
$1,999,000
$25,104,000
$7,975,000
$567,000
$1,000,000
$286,000
$1,165,000
$2,368,000
$250,000
$2,597,000
$1,267,000
$8,002,000
$25,477,000
$50,581,000
THANK
YOU
FINANCING EXPERIENCE