Projects

Coogan Terrace

The Coogan Terrace project is the rehabilitation of 199 existing public housing units located in Melvindale, Michigan.  The existing ten story building consists of eight residential floors and the ninth floor contains boilers and the tenth floor is the elevator control tower/room.  The building, Additionally the building includes common facilities such as a community room, a library and computer room, a resident services coordinator office and management offices on the first floor. 

The building, originally built in 1984, is in need of updating to improve resident safety and energy efficiency.  Units will receive new kitchens and bathrooms, flooring, doors, and windows, if not recently replaced.  The elevators will be refurbished and the roof repaired.  Safety improvements include replacement of tubs in the barrier free units with showers and replacement of potentially unsafe unit breaker panels.  The rehabilitation will meet Enterprise Green Standards.   Ample parking is provided in a surface lot which is on three sides of the building.  There are 146 parking spaces.

The project is the conversion of public housing through HUD’s Rental Assistance Demonstration (RAD) Program.  Due to the low rents of the RAD Program, the project is financed with a small first mortgage from Capital Impact Partners, a mix of the remaining capital and public housing reserve funds provided by HUD to the sponsor Melvindale Housing Commission, and 9% tax credits from Cinnaire.  All financing and loans were closed in May 2019.  The project is currently under construction.

Specifications

Development Type
1 Bedrooms
Number of Units
199
Development Cost
16000000
Location
Melvindale, Michigan
Development Role
Development Consultant and Co-General Partner
Unit Mix
1 Bedrooms
Architect
Robert C Wakely, AIA
Contractor
G. Fisher Construction Company
Developer
Melvindale Housing Commission
Owner
Coogan Terrace LDHA Limited Partnership
Investor
Cinnaire
Lender
Capital Impact Partners

What Others Are Saying About Us

“RPS engaged CCA in 2005 to assist in the disposition of RPS’s affordable housing portfolio, which consisted of over eighty properties, located throughout the country. The successful conclusion to our portfolio disposition is in large part attributable to Ben and David and their team at CCA. Though faced with a multitude of problems, including properties with extensive deferred maintenance, difficult regulatory agencies and severely distressed financial markets, CCA brought resolutions to our issues that were consistently satisfactory to all parties concerned. The depth and scope of CCA’s expertise in the many facets of the affordable housing industry proved invaluable. It has been a privilege and a pleasure to work with such a group of professionals.”  

Patricia Green, RPS Corporation

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