Projects

Hamilton Crossing Phase I & II

Hamilton Crossing Phases I and II are the transformation of the former Parkview Apartments, a boarded-up, derelict property in Ypsilanti, Michigan, into 144 units of family housing.  This property sat essentially vacant for several years until the remaining few tenants sued HUD to force a foreclosure. The YHC had engaged Chesapeake Community Advisors (“CCA”) as the development consultant and CCA worked with the YHC from 2004 to 2010 when the foreclosure and sale to the YHC for $1 finally occurred.

The property was redeveloped in two phases, using both 4% and 9% LIHTC from the Michigan State Housing and Development Authority.  As part of the Parkview Tenants Association settlement agreement, HUD provided an Upfront Grant in the amount of $40,000 per unit and 144 new Section 8 vouchers.  The creative financing structures allowed for the properties to be well reserved for the long term.

The property is primarily townhouse units with full basements.  The substantial renovation included new roofs, windows, HVAC systems, drywall, kitchens and baths and extensive site work and landscaping. Each unit offers the original hardwood floors and in-unit washers and dryers.  A community building on site provides a community room, a computer lab and management offices.

The Phase I property also offers the Family Empowerment Program in partnership with Eastern Michigan University, Washtenaw County, the Washtenaw County United Way and funding through the Kresge Foundation.  This program allows each family to work with the on-site social worker to formulate and individual plan for self-sufficiency.  It brings programs such as after school tutoring, healthy cooking, Zumba and Yoga classes to the site along with job readiness training, access to dental care and summer camp for kids. 

The project was recently awarded the Charles Edson Tax Credit Excellence Award for a HUD Preservation Property.

Specifications

Development Type
21 - 1BR, 78 - 2BR, 45 - 3BR
Number of Units
144
Type of Housing
Rehab
Development Cost
20 Million
Location
Ypsilanti, Michigan, Michigan
Project Complete
January 2019
Development Role
Development Consultant
Unit Mix
21 - 1BR, 78 - 2BR, 45 - 3BR
Architect
Fusco, Shaffer & Pappas, Inc.
Contractor
Rhode Construction Company
Developer
Ypsilanti Housing Commission; CCA
Owner
Ypsilanti Housing Commission
Investor
Boston Financial, Cinnaire
Lender
MSHDA, Key Bank, Wahtenaw County, Ypsilanti Housing Commission

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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.