Projects

Teitel Apartments

The Teitel Apartments development is the renovation of existing units located at 15106 West Ten Mile Road in Oak Park, Michigan.  The existing building is a 10-story building with common facilities, including a warming kitchen, common areas and social workers and translators offices on the first floor.  The building currently consists of 150 residential rental units for the elderly which includes two managers’ units.  The building was originally constructed in 1988.

Teitel Apartments consists of 150 one-bedroom units.  All 148 tenant units have project-based Section 8 through the continuation of an existing HAP contract.  The current HAP contract expires in 2014; this refinancing will bring a new twenty year HAP contract.  The focus of this project is threefold: (1) to upgrade units and add additional energy efficient and safety systems, (2) to improve the community space including adding a commercial kitchen on the first floor, (3) to address the increasing need for accessible units and visitability, and (4) to replace aging, inefficient systems such as the boiler and generator.  The rehabilitation will meet Enterprise and MSHDA’s Green Standards.  Ample parking is available.  Eleven staff currently are employed in the operations of the building and those positions will continue. It is estimated that sixty-five construction jobs will be created due to this renovation along with the participation of numerous development team members including the architect, lawyers, and accountants, as examples.

Living at Teitel Apartments provides residents access to social work services, activities, home health aides, meals, transportation, and other services as needed.  The campus provides a safe place for residents to walk and garden.  JSL’s provision of personalized, high quality residences, program and services supports aging with dignity and choice to maximize independence.  The renovation of the Teitel building will greatly add to the quality of life for this frail, elderly and very low-income population.

Specifications

Development Type
1 Bedrooms
Number of Units
150
Development Cost
18000000
Location
Detroit, Michigan
Development Role
Development Consultant
Unit Mix
1 Bedrooms
Architect
Robert C Wakely, AIA
Contractor
G. Fisher Construction Company
Developer
Chesapeake Community Advisors, Inc.
Owner
Jewish Senior Life
Investor
Cinnaire
Lender
JLL Capital Markets

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What Others Are Saying About Us

“I have worked with the principals of Chesapeake since the inception of Cinnaire in 1993. They have proven to be the most highly skilled and knowledgeable group of professionals we have ever worked with in this industry. Their creative and entrepreneurial approach to real estate development and finance have made them the number one choice for Cinnaire to assist us in complex and difficult real estate transactions. The use of Chesapeake in our Housing Tax Credit Year 15 disposition strategies has produced results for our investors that were beyond their expectations and has been a model we use in all of our disposition strategies. They are real estate experts extraordinaire with the added benefit of being socially minded. They not only care about the investor and owner benefits but also take into account a positive outcome for the residents.”