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HomeMy WebLinkAboutAvenue Flats LIHTC ApplicationProject Description Initial Project Details Project type Target population Tax-exempt bond volume Income Averaging Project Address Project name * Address City Preliminary Rental Tax Credit Application: APP24- B0194 New Construction Family Yes Yes Avenue Flats 509 S Kerr Ave * Census tract * Is project in a qualified census tract or difficult to develop area? Project Information * Proposed number of residential buildings * Will the project contain an elevator? * If yes, how many elevators? * Choose one of the following which applies to the project Jurisdiction * Political jurisdiction Wilmington County New Hanover * Zip 28403 105.010 Yes 3 Yes 6 None of the above City of Wilmington * Address Site Description Acreage * Total site acreage * Total buildable acreage * If buildable acreage is less than total acreage, please explain Demolition * Is the demolition of any buildings required or planned? Please provide the name of the jurisdiction's mayor. If there is no mayor, provide the name of the County Commissioner Chairman. * Mayor's first name Bill * Mayor's last name Saffo 102 N 3rd St * City Wilmington * Zip code 28401 6.59 6.59 * If yes, please describe Building Occupancy * Are existing buildings on the site currently occupied? If yes: * Briefly describe the situation * Will tenant displacement be temporary? * Will tenant displacement be permanent? Public Road Access * Is the site directly accessed by an existing, paved, publicly maintained road? * If no, see QAP section IV(A)(1)(iii) and please explain Yes The vacant single family structures on our parcels will be demolished prior to construction beginning. Yes The sellers live on the property currently. They are retiring and will be moving to a new home once the transaction is complete. No No Yes Historical and Environmental Significance * Are there any existing conditions of historical significance located on the project site that will require State Historic Preservation office review? * If yes, describe below * Are there any existing conditions of environmental significance located on the project site? * If yes, describe below Site Control and Zoning Fee ownership * Does the owner have fee simple ownership of the property (site/buildings)? * List Tax or Parcel ID for all tracts in the project Option/Contract Details No No No * Purchase date * Purchase price * Does the owner/principal or ownership entity have valid option/contract to purchase the property? * Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity of the option/contract for purchase of the property and the seller of the property? * If yes, specify the relationship * Enter the expiration date of the option/contract to purchase * Enter purchase price List Tax or Parcel ID for all tracts in the project Zoning * Present zoning classification of the site * Is multifamily use permitted? * Are variances, special or conditional use permits or other discretionary land use approvals needed to develop this proposal (see requirement in QAP Section IV(A)(1)(a)(ii))? * If yes, specify permit or variance required and date obtained Yes No 6/29/2025 $4,500,000 Parcel ID Numbers R05507-002-067-000, R05511-002-001-000, R05511-002-003-000, R05511-002-005-000 and R05511-002-007-000 in New Hanover County R-10 Residential No Yes Applicant Information Applicant Info Indicate below an individual or a validly existing entity (a corporation, nonprofit, limited partnership or LLC) as the official Applicant. Under QAP Section III(C)(7) only this individual or entity will be able to make decisions with regard to this application. Contact Note: Email address above will be used for communication between NCHFA and Applicant. The rezoning application was filed with the City of Wilmington on June 24th, 2024. The city council zoning approval is set to occur in September 2024. Applicant name Blue Ridge Atlantic Development * Address 1630 Military Cutoff Road Ste 104 * City Wilmington * State North Carolina * Zip code 28403 * First name Sam * Last name Weldon * Telephone (910) 232-3334 * Title Director of Development * Email address sweldon@blueridgeatlantic.com * Nonprofit No Tax Credit Info List one 9% tax credit project in North Carolina or one tax-exempt bond project the above individual successfully developed, operated and maintained in compliance which was placed in service between January 1, 2016 and January 1, 2023. * Qualifying selection One tax-exempt bond project * Project name * PIS date * Project name Peachtree Creek on Ponce Apartments * PIS date 2/28/2022 * City Clarkston * State Georgia * # units 188 * IRS Form 8609 for out of state tax-exempt bond project One Form 8609 is required for out of state tax-exempt bond project. Peachtree 8609s Executed.pdf 8609 Ownership Entity Owner Information * Federal Tax ID number of Ownership Entity Note: Do not submit social security numbers for individuals. Primary Contact Information Is the Applicant requesting the Agency treat the application: Members and Partners * Name BRAD Avenue Flats, LLC * Address 1630 Military Cutoff Road Ste.104 * City Wilmington * State North Carolina * Zip code 28403 * Entity type Limited Liability Company * Entity status To Be Formed * First name Chris * Last name Eisenzimmer * as Nonprofit sponsored? No * as CHDO sponsored? List all parties that will be part of the Ownership Entity. * Organization * Address * Organization * Address BRAD Avenue Flats, LLC * First name Len * Last name Brannen * Type Managing Member 1630 Military Cutoff Road Ste 104 * City Wilmington * State North Carolina * Zip 28403 * Email lenb@shelterresourcesinc.com * Phone (425) 454-8205 * Nonprofit No BRAD Avenue Flats, LLC * First name Christopher * Last name Eisenzimmer * Type Managing Member 1630 Military Cutoff Road Ste 104 * City Wilmington * State North Carolina * Zip 28403 * Email chris.e@blueridgeatlantic.com * Phone (910) 338-3349 * Nonprofit No * Organization * Address * Organization * Address Blue Ridge Atlantic Development * First name Len * Last name Brannen * Type Managing Member 1630 Military Cutoff Rd. Ste 104 * City Wilmington * State North Carolina * Zip 28403 * Email lenb@shelterresourcesinc.com * Phone (425) 454-8205 * Nonprofit No Blue Ridge Atlantic Development, LLC * First name Christopher * Last name Eisenzimmer * Type Member 1630 Military Cutoff Road Ste 104 * City Wilmington * State North Carolina * Zip 28403 * Email chris.e@blueridgeatlantic.com * Phone (910) 338-3349 * Nonprofit No Unit Mix Project-Based Rental Assistance Will the project be receiving federal project-based rental assisance? * Federal project-based rental assistance * If yes, provide the subsidy source * Number of federal project-based rental assistance units? For underwriting purposes, the Agency will use Novogradac's Rent and Income Limit Calculator to determine rent limits. Low Income Units * Type * # BRs * # Baths * Heated Sq. Ft. * Total # Units # Units * HOME Units? * NHTF Units? * Monthly Rent * Utility Allowance Mandatory Serv. Fees **Total Housing Exp * Targeted Income * Occupancy Standard Gdn Apt 1 1 Bath 661 9 2 No No 496 72 568 30%Affordable to and Occupied by Gdn Apt 2 2 Baths 931 14 2 No No 591 91 682 30%Affordable to and Occupied by Gdn Apt 3 2 Baths 1,120 7 1 No No 678 110 788 30%Affordable to and Occupied by Gdn Apt 1 1 Bath 661 15 2 No No 875 72 947 50%Affordable to and Occupied by Gdn Apt 2 2 Baths 931 12 2 No No 1,046 91 1,137 50%Affordable to and Occupied by Gdn Apt 3 2 Baths 1,120 9 1 No No 1,204 110 1,314 50%Affordable to and Occupied by Gdn Apt 1 1 Bath 661 17 2 No No 1,065 72 1,137 60%Affordable to and Occupied by Gdn Apt 2 2 Baths 931 30 2 No No 1,273 91 1,364 60%Affordable to and Occupied by Gdn Apt 3 2 Baths 1,120 18 1 No No 1,467 110 1,577 60%Affordable to and Occupied by Gdn Apt 1 1 Bath 661 17 2 No No 1,200 72 1,272 80%Affordable to and Occupied by Gdn Apt 2 2 Baths 931 22 2 No No 1,400 91 1,491 80%Affordable to and Occupied by Gdn Apt 3 2 Baths 1,120 14 1 No No 1,800 110 1,910 80%Affordable to and Occupied by No   Electric Included  Gas Included  Water/Sewer Included  Other Utility Included * Other Comment General Comment Average Income Targeted Bedroom Type Targeted Income SRO NA EFF NA One Bedroom 58.62% Two Bedroom 58.72% Three Bedroom 59.58% Four Bedroom NA Five Bedroom NA Project 58.91% Employee Units No units defined. Market Rate Units No units defined. Totals All Units Mobility Impaired Units Gross Yearly Rental Income Low Income 184 20 2,557,176 Market Rate 0 0 0 Trash All Units Mobility Impaired Units Gross Yearly Rental Income Totals 184 20 2,557,176 Additional Targeting Indicate below any additional targeting for special populations proposed for this project. Mobility impaired: 5% of units comply with QAP Section IV(F)(4) (in addition to the units required by other federal and state codes.) Minimum Number of Mobility Units Required: 20 * Persons with disabilities or homeless populations Minimum Number of Units Required: 19 Market Study Info * Please provide a detailed description of the proposed project 20 20 Avenue Flats will be a family housing community located in a transitional amenity rich area of New Hanover County and City of Wilmington. The location of Avenue Flats is 507, 509, 515, 519, 525 and 529 S. Kerr Avenue Wilmington, NC 28403. The existing conditions of the project location include several old vacant single family houses. Avenue Flats will consist of 48 one- bedroom units, 80 two-bedrooms units and 64 three-bedrooms units. We will also comply with all accessibility requirements per the QAP as well as the state and federal requirements. It will feature income restrictions ranging from 30% to 80% which will create a sense of diversity and inclusiveness at our property. This project will consist of 3 buildings and a clubhouse strategically placed throughout the site to allow for the Kerr Avenue multi-use path along the frontage of the site as well as to provide a grand entrance to the project along Kerr Ave. This project will be built using premium materials. The building facade will include brick veneer, Hardie siding, and synthetic cedar shake to add to the coastal vibe of this property. We intend on having a large variety of amenities to provide to our tenants which will certainly surpass the baseline/general requirement of NCHFA. For example, exercise room, gazebo, community garden, community / multi- purpose room, computer center, and craft/game room to name a few. This property lies in a lower poverty area which * Construction Check all that apply, at least 1 must be checked * Description of other * Unit Amenities Check all that apply, at least 1 must be checked * Description of other further promotes fair housing missions and de-concentration of low-income areas. This will be a highly desired place to live in New Hanover County and the City of Wilmington for families and will lead to happier healthier lives.  Brick  Vinyl  Wood  HardiPlank  Balconies/Patios  Sunrooms  Front porches  Front gables or dormers  Wide banding or vertical/horizontal siding  Other  Ceiling Fan  Coat Closet  Dishwasher  Emergency Pull Chain  Frost Free Refrigerator  Garbage Disposal  Internet Connection (not phone line)  Exterior Storage  Microwave  Mini-blinds  Patio / Balcony  Self-Clean Oven  Walk-in Closet  Washer / Dryer Hookups  Other Security Check all that apply * Description of other * Project Amenities Check all that apply, at least 1 must be checked * Description of other  Intercom Call Station at Entry  Keypad Entry System  Lighting  Other This project will have some form of low voltage security access control to access the buildings and clubhouse.  Beauty / Barber Shop  Bus Shelter  Community Room  Computer Center  Covered Drive-Thru or Drop-Off at Entry  Covered Picnic Area  Elevator  Exercise Room  Game / Craft / TV rooms  Garage / Carport (Attached or Detached)  Gazebo  Indoor or Outdoor Seating Areas  Laundry Room  Library  Outdoor Sitting Areas with Benches  Playground / Tot Lot  Raised Bed Garden Plots  Screened Porch  Sunroom with Chairs  Swimming Pool (bond deals only) Tenant Storage Areas  Transportation Services  Walking Trails  Other Neighborhood Characteristics (maximum 10 points)10 * Have you built other tax credit developments that use the same building design as this project? * If yes, please provide name and address * Onsite activities * Landscaping plans * Do you plan to submit additional market data (market study, etc.) that you want considered? Site Scoring Self Evaluation Sections of this page are abbreviated. See QAP Section IV(A)(1) for a full description. No Blue Ridge Atlantic Development hopes to include onside activities such as arts/crafts night along with weekly events and other designated game nights within the clubhouse for our tenants. We will work to have a resident services coordinator provide activities and services that appeal to the broad base of our tenants based on their feedback. These activities will promote resident engagement while furthering the sense of community throughout the development. Our hope is that tenants of our property will forge life long relationships through our community activities and engagement. We will be allocating more than the NCHFA per unit requirement for landscaping. Providing a well thought out landscaping plan will provide for additional curb appeal, faster lease-up, and ultimately a safe and beautiful environment for our residents to enjoy. Many trees will be preserved and incorporated in to the landscaping plan which will provide for an extremely appealing view of our project from the road frontage. We will also be adding and planting additional trees, flowers, and shrubbery throughout the site and building perimeter to accent certain areas. We also intend to incorporate a community playground area that will be surrounded by landscaping for our tenants and their families to enjoy. No * Is this project located in a Small Town? No Amenities (maximum 49 points)48 * Describe the condition of structures within a half mile of the site which should be indicative of why the site rates Good, Fair or Poor. * Galaxy Food Center Name * Grocery Address * Shopping Addess * Pharmacy Address * Choose one of the following which describes the condition of structures within a half mile of the site. Good Largely, all structures within a half mile are in good condition. Most all nearby buildings are single family homes, with the newer Seahawk Cove apartments and Candlewyck Condominums being the exception. To the north and south of the proposed project, restaurants, commercial buildings and retail shopping can be found in good condition. 26Primary (maximum 26 points) * Grocery Harris Teeter * Distance (in miles) 0.6 Grocery Score 12 820 College Rd, Wilmington, NC 28403, USA * Shopping Dollar General * Distance (in miles) 0.9 Shopping Score 7 68 S Kerr Ave, Wilmington, NC 28403, USA * Pharmacy Walgreens Pharmacy * Distance (in miles) 1.2 Pharmacy Score 7 * Pharmacy (or Galaxy Food Center) Name * Address * Service Address * Healthcare Address * Public Facility Address 4501 Market St, Wilmington, NC 28405, USA 20Secondary (maximum 23 points) Grocery, Shopping or Pharmacy Food Lion Distance (in miles) 0.9 Score 5 45 S Kerr Ave, Wilmington, NC 28403, USA Service Bank of America Distance (in miles) 0.9 Service Score 3 502 College Rd, Wilmington, NC 28403, USA Healthcare AFC Urgent Care Distance (in miles) 1.3 Healthcare Score 3 348 College Rd, Wilmington, NC 28403, USA Public Facility Anne McCrary Park Distance (in miles) 0.6 Public Facility Score 3 4000 Randall Pkwy, Wilmington, NC 28403, USA Public School Winter Park Elementary School Distance (in miles) 1.4 Public School Score 3 Site Suitability (maximum 12 points)12 * Public School Address * Community or Senior Center Address * Retail Address * Nearest Bus Stop Address 204 MacMillan Ave, Wilmington, NC 28403, USA Community or Senior Center Distance (in miles) Community or Senior Center Score 0 Retail Lowes Foods Distance (in miles) 1.4 Retail Score 3 341 College Rd #37, Wilmington, NC 28403, USA These items are applied to the Amenities score but the total cannot exceed 49 points. * Does this project have a commitment of $250,000 in qualifying tribal funds? Score No 0 * Does this project contain a qualifying bus/transit stop? Yes-without covering Score 2 509 S Kerr Ave, Wilmington, NC 28403, USA * Is there an incompatible use near the site? Incompatible Use Score No 3 * Are there negative features, design challenges, physical barriers, etc.? Negative Features Score No 3 * Would the project be visible to potential tenants using normal travel patterns? Yes * Is the site within 500 feet of a building that is currently in use for residential, commercial, educational or governmental purposes? Close Buildings Score Yes 3 * Are there traffic controls to allow safe and convenient access to the site? Traffic Controls Score Yes 3 * Describe why your project does or does not qualify for Site Suitability points. Our prospective site is well positioned to qualify for all of the Site Suitability points. Reviewing the "no incompatible use" requirements, no such uses are in close proximity to our project. All surrounding properties are single-family homes, apartments, and condominium units in good condition. Our site does not have any negative features, design challenges etc. that would impede construction. This is in part evidenced by the fact that the site has direct access to Kerr Avenue and we have no power transmission lines, towers, boulders, wetlands, floodplain present, or any other features that would endanger residents/cause construction/design issues. Within 500 feet of the site, single-family homes can be found along with the Candlewyck Condominiums across the street. More growth is expected in the surrounding areas. The proposed site is on the well maintained and popular Kerr Avenue. The normal traffic pattern allows for our site to be visible and accessible to potential tenants. Kerr Avenue is relatively straight with no blind corners. Minimum Set-Asides Minimum Set-Asides Preliminary Application Document Uploads Document Upload Overview All documentation must be dated within 6 months of the preliminary application due date. * Site Map A local map clearly identifying the location of the site and detailed directions to the site. Applicant must provide a sign and boundary markers to clearly identify the road frontage of the site. The sign identifying the site should read “SITE” with a minimum size of 11x17. Site Map.pdf Property Map Driving Instructions 70Total Score:  Twenty percent (20%) of the units are rent restricted and occupied by households with incomes at or below fifty percent (50%) of area median income (Note: No Tax Credit eligible unit in the project can exceed fifty percent (50%) of area median income)  Forty percent (40%) of the units are rent restricted and occupied by households with incomes at or below sixty percent (60%) of area median income (Note: No Tax Credit eligible unit in the project can exceed sixty percent (60%) of area median income)  One hundred percent (100%) of the units are rent restricted and occupied by households with incomes at or below one or more of the following designations: 20%, 30%, 40%, 50%, 60%, 70%, and/or 80% of area median income. Such designations cannot exceed an average of sixty percent (60%) of area median income. * Driving Instructions and Amenities Maps Provide directions to the site, separate Google maps identifying each amenity listed in section IV(A)(1)(b)(ii) of the QAP and their proximity to the site. Also included should be photos of each amenity, bus stop (if applicable), as well as a tax parcel map showing all parcels and rights of way within 500 feet of the site boundaries. Prelim App_Prim Amenity_ShoppingDollar General.pdf Site Amenities Primary Amenity, Shopping,Dollar General Prelim APP_Primary Amenity_Pharmacy_Walgreens.pdf Site Amenities Primary Amenity, Pharmacy, Walgreens Prelim App_Secondary Amenity_OPA_Food lion.pdf Site Amenities Other Primary Amenity, Food Lion Prelim App_Secondary Amenity_Service_BOA.pdf Site Amenities Secondary Amenity, Service, BOA Prelim App_Secondary Amenity_Healthcare_AFC.pdf Site Amenities Secondary Amenity,Healthcare, AFC Urgent Prelim App_Secondary Amenity_Public Facility.pdf Site Amenities Secondary Amenity, Public facility, Park Prelim App_Secondary Amenity_School.pdf Site Amenities Secondary Amenity, School, Winter Park Prelim Apps_Secondary Amenity_Retail_.pdf Site Amenities Secondary Amenity, Retail, Lowes Foods Bus stop picture.pdf Site Amenities Bus stop picture Prelim Apps_Prim Amenity_Grocery_Harris teeter.PDF Site Amenities Primary Amenity, Grocery, Harris Teeter Bus Stop Proof of Service.pdf Site Amenities Bus Stop Proof of Service Documentation of Redevelopment Project Criteria (if applicable) See section II(B)(2)(b) of the QAP No document uploaded * Evidence of Site Control Provide valid option/contract or warranty deed and plot plan. Mintz Dually Executed PSA_040424.pdf Option to Purchase Real Property * Site and Floor Plans Preliminary site plan, floor plans and elevations. Site and floor plans must be produced by a licensed architect or engineer. Avenue Flats Site and Floor Plans.pdf Site Plan Information Package for Market Analysts Include any additional market information such as preliminary market studies the applicant would like to provide to the Analysts. No document uploaded * Project Timeline Estimated time necessary to prepare final construction drawings, secure building permits, execute a construction contract, close the construction loan and anticipated building timelines through placed in service. Project Timeline.pdf Project Timeline Market Study The original market study, provided by the market analyst No document uploaded Market Study Revisions Revisions to the original market study provided by the market analyst No document uploaded © 2024 - NCHFA