Projects

New Parkridge Homes

New Parkridge is the redevelopment of a site that consists of obsolete public housing where CCA worked with the Ypsilanti Housing Commission (YHC) to help them determine a strategy by which they could successfully finance and convert all units through HUD’s Rental Assistance Demonstration (RAD) Program. New Parkridge is the second of two YHC projects for which CCA secured financing and RAD approval.

Currently Parkridge Homes consists of 80 townhome units in 20 buildings originally built as military housing in the 1940s and converted to public housing in the 1950s. The new duplexes, townhomes and multifamily buildings will provide greatly improved housing and meet Enterprise Green standards. The site plan incorporates New Urbanism concepts with the street grid reconnecting to the surrounding neighborhood, housing facing the street with porches and sidewalks to encourage an active neighborhood.

The YHC has partnered with Avalon Housing to provide much needed Permanent Supportive Housing (PSH) units with 25% of the units set aside for families or individuals that have been formerly homeless, have special needs or are survivors of domestic violence. Avalon Housing will provide case management services for the PSH residents and also assist the YHC to expand their Family Empowerment Program (FEP). The FEP includes a partnership with Eastern Michigan University and will bring extensive programming such as afterschool tutoring, job counseling, financial counseling, healthy eating and living activities such as a community garden fitness classes.

Specifications

Development Type
1 BDRM, 2 BDRM, 3 BDRM
Number of Units
86
Development Cost
$17M
Location
Ypsilanti, Michigan
Project Start
January 2016
Project Complete
January 2017
Development Role
Development Consultant, General Partner, Long-Term Asset, Co-Developer
Unit Mix
1 BDRM, 2 BDRM, 3 BDRM
Architect
Fusco, Shaffer & Pappas, Inc.
Contractor
Rodhe Construction Company
Developer
Ypsilanti Housing Commission; CCA
Owner
Ypsilanti Housing Commission
Investor
Cinnaire
Lender
Bank of America/Fannie Mae - Cinnaire

What Others Are Saying About Us

Gorman Management Company (GMC) is a legacy Section 8 owner/manager in Oklahoma that was established in 1978.  We were introduced to CCA through Ben Etheridge in 2012 and closed our first two 9% LIHTC deals that year.  Since then, we have closed an additional nine deals that are a mix of for-profit and non-profit owned properties (and three in process).  Most of our deals are complicated and require expertise in all levels of affordable housing (HUD, LIHTC, FNMA, etc.).  CCA has brought expertise as our development partner to all of these deals that was essential to their success.