General Heath Square Apartments presentation for Boston Planning and Development Agency Article 80 Community Meeting presented by: Jamaica Plain Neighborhood Development Corporation Back of the Hill Community Development Corporation Tuesday, October 17, 2017
Location Aerial view of General Heath Square site, courtesy City of Boston 10/17/2017 2
General Heath Square Apartments Highlights • Production of 47 affordable housing units • Environmentally friendly • Affordability (see detail) design and construction • Development of • Local employment and underutilized vacant lot workforce / procurement diversity • Transit-Oriented Development • Resident services for tenants, including services • Bold design by award- for special needs winning architects Prellwitz populations Chilinski Associates 10/17/2017 3
General Heath Square Apartments Project Team • Developer: Jamaica Plain Neighborhood Development Corporation • Development Partner: Back of the Hill Community Development Corporation • Architect: Prellwitz Chilinski Associates • General Contractor: NEI General Contracting • Owner’s Representative: Janey Construction Consulting • Survey: Nitsch Engineering • Environmental Engineering: McPhail Associates • Legal Counsel: Klein Hornig • Property Management: Peabody Properties 10/17/2017 4
General Heath Square Apartments Program & Design • Residential Units 12 one-bedroom units, ave. size 645 sq. ft. 21 two-bedrooms units, ave. size 875 sq. ft. 14 three-bedroom units, ave. size1050 sq. ft. Non-Residential • 824 square foot commercial space. • 1,042 sq.ft. community room • Management Office, trash, laundry, etc. • Parking: 20 spaces (.43 spaces per unit) 10/17/2017 5
Existing Site Aerial Photo 10/17/2017 6
Site Plan 10/17/2017 7
Ambulatory and Vehicular Entries / Exits 10/17/2017 8
Accessibility Routes 10/17/2017 9
Ground Floor Plan 10/17/2017 10
Floors 2-4 Plan 10/17/2017 11
Landscape Plan 10/17/2017 12
Unit Floor Plan 1BR 1 BEDROOM UNIT 586 SF 10/17/2017 13
Unit Floor Plan 2BR 2 BEDROOM UNIT 800 SF 10/17/2017 14
Unit Floor Plan 3BR 3 BEDROOM UNIT 1005 SF 10/17/2017 15
Perspectives: view from Wensley St. looking south 10/17/2017 16
Perspectives: view from Heath St. looking east 10/17/2017 17
Perspectives: view from Heath St. looking east 10/17/2017 18
Perspectives: view from Heath St. looking north 10/17/2017 19
Perspectives: view from Bromley St. looking west 10/17/2017 20
Perspectives: view from New Heath St. looking east 10/17/2017 21
Budget Summary at 10/17/2017 Development Budget Uses of Funds (Costs) % of total per sq ft Acquisition $1,000 0.0% Hard Costs $12,859,000 71.3% $212 Soft Costs $3,046,805 16.9% Operating Budget per unit Reserves, Overhead/Fee $2,122,000 11.8% Year 1 Operating Cost $559,471 $11,904 Total Development Cost $18,028,805 Year 1 Operating Revenue $705,644 $15,014 control: $0 Year 1 Residential TDC per unit $378,256 NOI $146,173 $3,110 $111,517 $2,373 Annual Debt Service Year 1 DSC Ratio 1.31 Sources of Funds (proposed) Tax credit equity $9,337,600 51.8% City subsidy $3,250,000 18.0% State subsidy $3,605,244 20.0% Mass Dev Brownfields $35,961 0.2% Permanent Loan (Bond B sale) $1,800,000 10.0% Total Sources $18,028,805 control: $0 Surplus / Deficit $0 Sources as % of TDC: 100.0% 10/17/2017 22
Target Population / Affordability (text) • 16 units (34% of total) will be reserved for Project Based Section 8 or Mass Rental Voucher Program (MRVP) rental subsidy (household income ≤ 30% Area Median Income). These units will also be Low Income Housing Tax Credit (LIHTC) compliant. o Mass ELI Set-Aside: Of the 16 units Section 8 / MRVP units, 10 units (21% of total) will be permanently affordable to “extremely low income households” (household income ≤ 30% AMI) regardless of the availability of project-based rental subsidy. o HomeFunders Set-Aside: The Mass ELI Set-Aside units also qualify as the HomeFunders Set- Aside (HomeFunders is a predevelopment debt source). o Boston Homeless Set-Aside: Of these 10 Mass ELI units, 5 units (11% of total) will be permanently reserved for formerly homeless individuals or families (≤30% AMI); these are the “Boston Homeless Set-Aside” units. • 2 units (4.3% of total) will be permanently reserved for clients of the HUD 811 Project Based Rental Assistance Program (“811PRA”). 811 PRA is a HUD-funded project based operating subsidy for units targeted to serve non-elderly disabled households, referred and supported by Massachusetts Executive Office of Health and Human Services contract agencies. Income eligibility is ≤ 30% AMI . • 2 units (4.3% of total) will be permanently reserved for clients of the Massachusetts Department of Developmental Services, through the Mass Facilities Consolidation Fund program. Income eligibility is ≤ 30% AMI. • 20 units (46.8% of total) will be LIHTC compliant (house hold income ≤ 60% AMI), with no project- based rental subsidy support. The 20 units described above will also be LIHTC compliant, for a total of 40 LIHTC units. • 7 units (14.9 % of total) will be reserved for moderate income households (household income ≤ 70% AMI). 10/17/2017 23
Target Population / Affordability (chart) Income % of Limit (% Income Limit Income Limit Income Limit Units total 1BR 2BR 3BR of AMI) 1 person 1BR Rent 2 persons 2BR Rent 3 persons 3BR Rent 811, FCF/DDS, Mass DHCD Sec 8 PBVs, and 30% of 30% of 30% of MRVPs 20 42.55% 6 9 5 30% $21,700 income $24,800 income $27,900 income LIHTC "stand alone" 1 20 42.55% 4 9 7 60% $43,440 $977 $49,680 $1,161 $55,860 $1,334 Moderate Income 1 7 14.89% 2 3 2 70% $50,700 $1,069 $57,950 $1,208 $65,200 $1,349 Total 47 100% 12 21 14 Set-Asides (do not double count with above) 30% of 30% of 30% of Mass ELI 2 10 21.3% 0 8 2 30% $21,700 income $24,800 income $27,900 income 30% of 30% of 30% of Homefunders 3 10 21.3% 0 8 2 30% $21,700 income $24,800 income $27,900 income Boston Homeless 30% of 30% of 30% of Referrals 4 5 10.6% 0 3 2 30% $21,700 income $24,800 income $27,900 income 1 rents adjusted for 10% marketing window and for utility allowances 2 Included within Mass DHCD Sec 8 PBV and MRVP units; ELI = extremely low income; must be retained in the event of loss of rental subsidy 3 for eligibility for Homefunders predevelopment loan; identical to Mass ELI set-aside 4 included within the Mass ELI set-aside 10/17/2017 24
Schedule Designation from the City May 6, 2015 City funding application December 11, 2015 BPDA Article 80 approval February 2, 2016 Boston ZBA approval February 23, 2016 City funding award February 29, 2016 State funding application #2 February 16, 2017 State funding award August 17, 2017 Finance Closing / Acquisition March 2018 Construction Start March 2018 Construction Completion July 2019 Qualified (Full) Occupancy September 2019 Sustained Occupancy December 2019 10/17/2017 25
Community Process 1 o 11/12/2014: Sponsor’s community meeting o 12/2/2014: Sponsor’s community meeting o 3/5/15: Sponsor’s community meeting o 6/23/15: Sponsor’s community meeting o 9/15/15: JP Neighborhood Council Housing & Development Committee o 10/7/15: JP Neighborhood Council Zoning Committee o 10/28/15 (BRA Article 80 IAG Meeting) o 11/5/15 (BRA Article 80 Public Meeting) o 12/10/15 (BRA Board Meeting) – unanimous approval o 1/6/16: JPNC Zoning Committee – unanimous approval o 1/26/16: Full JPNC – approval o 2/23/16: ZBA Hearing - approval 10/17/2017 26
Community Process 2 Community Organization Support Letters • Bromley-Heath Tenant Organization • Julia Martin House Tenant Association • New England Baptist Hospital • Nurtury (Early Education Center at Bromley-Heath) • Winn Management (for Oliver Lofts on Terrace Street) • Placetailor (office tenant at 51 Heath Street) • Ugi’s Pizza (site neighbor) • Jamaica Plain Coalition Tree of Life / Arbol de Vida • Back Of The Hill Apartments • Support Petitions from Bromley Heath and from Back of The Hill Apartments • Hyde Square Task Force Elected Officials Support Letters • City Councilor O’Malley • City Councilor Zakim • City Councilor Pressley • City Councilor Flaherty • City Councilor Murphy • City Councilor Wu • State Senator Sonia Chang-Diaz • State Representative Jeffrey Sanchez 10/17/2017 27
Local Employment and Workforce / Procurement Diversity Workforce Requirements (% of total labor hours): • “Minority (as defined by City of Boston)”: 51% • City of Boston residency: 51% • Local residency (ZIP Codes 02118, 02119, 02120, 02130): 35% • Women: 10% • Walk-on” workers: 3 (combined 18 months of full time employment) Procurement Requirements: • State-certified MBEs: 30% • State-certified WBEs: 10% • Local BEs (ZIP Codes 02118, 02119, 02120, 02130): 10% 10/17/2017 28
END 10/17/2017 29
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