Gary Redevelopment Commission Turnstone Development Corporation is - - PowerPoint PPT Presentation

Gary Redevelopment Commission

GARY REDEVELOPMENT COMMISSION

Turnstone Development Corporation is passionate about bringing high quality housing that inspires and enhances the lives of our residents.

THE TURNSTONE TEAM DELIVERS

WHO IS TURNSTONE?

 We are a 501(c)(3) real estate

development firm designed to facilitate the creation and preservation of affordable housing.

 We carry out US HUD’s Housing Choice

Voucher (HVC) program and assist with mixed-finance and low-income tax credit developments.

 We have developed over 1,500 units

• f housing and leveraged over $225

million in private and public capital investment since 1998.

 We are active in markets across the

United States including Illinois, Indiana, Florida and Arizona.

 We support PHAs in their efforts to

create and preserve affordable housing opportunities for low-income households.

WHY WORK WITH TURNSTONE?

 Experienced with residential and mixed-

use projects ranging in size from 11 units to 137 units.

 Experienced in packaging project

financing using 3-7 sources.

 Experienced with a wide array of

financing mechanisms including LIHTC equity from the state housing development authorities, local HOME funds, Public Housing Authority capital funds (PHA), American Reinvestment and Recovery Act Stimulus funds (ARRA), traditional banking and lending institutions’ loans, and grant assistance from such organizations as the Federal Home Loan Bank (FHLB) and state departments of economic development.

OUR TEAM

GARY REDEVELOPMENT COMMISSION TURNSTONE DEVELOPMENT CORPORATION

• Mr. William Schneider

BURLING BUILDERS GENERAL CONTRACTOR LIGHTENGALE GROUP FINANCIAL CONSULTANT QUARLES & BRADY LEGAL SERVICES ELSTON CM CORPORATION CONSTRUCTION MANAGEMENT PIEKARZ ASSOCIATES, P.C. ARCHITECTUAL SERVICES CARLTON MANAGEMENT COMPANY PROPERTY MANAGEMENT

THE TEAM LEADER

TURNSTONE DEVELOPMENT

 Almost 2 decades of affordable housing

development success

 Focused personal attention on your

• rganization and project

 Flexible, lean project organizational

structure allows for quick decisions

 Accountable to you  Proven record of community engagement

and consensus building in communities where we work

 Financial capacity to support appropriate

development

 Highly respected and successful minority job

training and placement

 Strong community advocate

We bring an exceptional team of contractors, architects, land use planners and legal counsel to ensure a first class affordable development that fits with the community and its needs.

MEET THE TEAM

 LIGHTENGALE GROUP – FINANCE

CONSULTANT

 PIEKARZ ASSOCIATES, P.C. – ARCHITECTUAL

SERVICES

 BURLING BUILDERS, INC – GENERAL

CONTRACTOR



ELSTON CM CORPORATION – CONSTRUCTION MANAGEMENT



CARLTON MANAGEMENT SERVICES – PROPERTY MANAGEMENT



QUARLES & BRADY, LP – LEGAL SERVICES

LIGHTENGALE GROUP

PROJECT FINANCE CONSULTANT

 Providing strategic leadership in real

estate financing since 1999.

 LGG principals have over 40 years of

combined experience in affordable housing financing and development.

 Served as financial consultant on more

than 50 affordable housing projects, ranging in size from 8 units to 235 units.



Provide development services and coordinate financing for non-profit, for- profit and governmental real estate developers and owners.



Services include site review and selection, marketability review, project analysis (unit mix and financing structure), development partner identification, application preparation for funding for capital sources and rental assistance, assistance with negotiations with lenders/ investors and coordination

• f due diligence.

LIGHTENGALE GROUP

SOURCES

CDBG Energy Grants Federal Home Loan Bank AHP Historic Tax Credits HOME HOPE VI HUD Up-Front Grant IHDA FAF IHDA Trust Fund Illinois Affordable Housing Tax Credits

OF

Low Income Housing Tax Credits (LIHTCs) Mezzanine Debt Neighborhood Stabilization Program (NSP) Pre-development Loans Private Debt & Equity Project-Based Rental Assistance Public Housing Capital Funds

FINANCING

RAD (Public Housing and non- Public Housing) – first PHA closing in the country! Section 1602/ 1603/ TCAP (2009 Stimulus Funding) Supportive Living Facilities Tax-Exempt Bonds Tax Increment Financing (TIF

PIEKARZ ASSOCIATES P.C.

ARCHITECTUAL SERVICES

 Full-service architectural firm established in

1987 providing a broad spectrum of services including site planning, architecture, and interior design.

 Portfolio includes new office buildings,

banks, retail stores, religious facilities, lofts, hotels, private clubs, multi-family residential buildings, elderly housing, multi-family rehabilitation & adaptive reuse, mixed-use buildings and industrial/warehouse buildings.

 Multi-family public/private partnerships include

the City of Chicago Department of Housing, US HUD, the Illinois Housing Development Authority (IHDA), the Housing Authority of Cook County, and the National Housing Trust.

 PA's approach to the design process is a

collaborative effort with our clients that begins in the programming phase and continues through project completion.

BURLING BUILDERS, INC.

GENERAL CONTRACTOR

 Minority Business Enterprise (MBE) that

brings thirty years of construction and construction management experience to the Turnstone Development Team.

 Full service general contractor with a

diverse portfolio of construction and rehabilitation of commercial and residential properties, including publicly financed affordable housing developments.

 Experienced in every aspect of sustainable

construction, from the selection of building materials to the installation highly efficient systems.

 Burling Builders, Inc. makes a practice of

implementing a diverse workforce as well as inclusive opportunities for all subcontractors.

 Deliver exceptional quality, meeting and

exceeding project schedules while providing the best value in terms of budget goals.

ELSTON CM CORPORATION

CONSTRUCTION MANAGEMENT

 Full service construction and construction

management firm.

 Provide clients a wide variety of services

including construction management, general contracting services and project planning.

 Past projects include new facilities for the

Social Security Administration facilities in Chicago & Indiana, The Amber Inn, The Historic Liberty Life Building (a Chicago landmark) and the restoration of the Ada Grand Townhomes.

Summit Senior Apartments Developer – Turnstone Development Corporation Architect – Piekarz Associates, P.C.

CARLTON MANAGEMENT COMPANY

PROPERTY MANAGEMENT

 Focus efforts on establishing effective

• perating procedures and instilling

well-run maintenance programs to increase resident retention and

• perating income while preserving,

protecting and enhancing the property’s physical assets.

 CMC has extensive experience with

governmental agencies and compliance programs such as US HUD, local public housing authorities and various state and local development agencies.

Wisdom Village Calumet Park Owned/developed by Turnstone Development Corporation Property management by CMC

QUARLES & BRADY LLP

LEGAL SERVICES

 Multidisciplinary legal services provider

with more than 475 attorneys practicing across the United States.

 The Quarles & Brady Tax Credit Team has

almost 40 years of experience and is composed of tax, real estate, and finance lawyers.

 The Tax Credit Team has broad

experience in new markets tax credits, low-income housing tax credits, historic tax credits, and other state-specific tax credits.

GARY REDEVELOPMENT COMMISSION GOALS

 Affordable housing and mixed-use projects

that meet the needs of the community.

 Affordable to households at or below 60%

• f Area Median Income.

 Bring multiple uses that compliment Gary

and its neighborhoods.

 Sustainable design, development and

building operations.

 Robust community hiring and business

engagement.

 Seamlessly connect the project to the

community through design, density, diversity and local participation.

THE TURNSTONE TEAM VISION

 Affordable housing and mixed use developments to households earning up to

60% of Area Median Income.

 Building density that fits with the community.  Unit sizes that are truly livable and provide ample space for families and senior

residents.

 Community relevant design developed in conjunction with community

stakeholders.

 Sustainable building design, construction and operations. Turnstone has

completed projects using LEED, EGC, Florida Green and other sustainable building standards.

 Local hiring, project participation and marketing.

TYPICAL DEVELOPMENT AMENITITES

Concrete construction Post-tensioned floor systems Aluminum framed windows and doors Impact resistant glass High efficiency mechanicals Green Roof Energy Star appliances Low-flow water fixtures Collaborative approach to design with community stakeholders

THE TURNSTONE TEAM – SUSTAINABILITY

 Team has extensive experience in design, construction and operations of

sustainable properties – Enterprise Green Community Standards, LEED.

 Received capacity building grant from Enterprise Community Partners to

build our green building operations and management capacity. Ensuring that our buildings take full advantage of green design to extend useful life of sustainable building features.

 Our projects truly maximize sustainability features while keeping costs low.

THE TURNSTONE TEAM – COMMUNITY COMMITTMENT

 Proven commitment to local hiring and promotion of local businesses.  We commit to meeting or exceeding GRC’s Section 3 and local hiring and

participation goals. We often exceed local goals on our projects.

 Through our strategic partnership within the community, we commit to hire

women, minority and veteran owned businesses (W/M/DBE).

THE TURNSTONE DEVELOPMENT TEAM

 Proven  Accountable  Flexible  Responsive  Connected to Community  Questions?