ApartmentsDevelopment Management Elite Destinations|
Project Type:
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Acquisition / Substantial Rehabilitation
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Target Market
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Multi-Family Rental Apartments -- (73% Low Income Housing Tax Credit / 27% Market Rate)
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Project Narrative:
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The Rose Hill project is the first Phase of the Ames Lake Neighborhood redevelopment. The Rose Hill buildings, which were originally built in the 1960's, had multiple owners and were in desperate need of repairs. The substantial rehabilitation plans call for the removal of one of the eight buildings and the combination of two 1-bedroom units into a two story 3-bedroom unit. The end result will be a reduction from 96 one
and two bedroom units to 77 one, two and three bedroom units. |
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Services Provided:
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Property Acquisition
Project Administration Design / Construction Supervision Tenant Relocation Project Marketing Property Management |
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Project Data:
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Total Project Cost:
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$9,894,100
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Type of Unit:
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2 1/2 Story Walk-up Apartments
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Number of Units:
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77
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Number of Buildings:
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7
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Total Site Area:
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2.38 Acres
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Unit Information:
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Unit Type:
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1 Bedroom
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2 Bedroom
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3 Bedroom
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Number of Units:
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28
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42
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7
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Average Size:
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630 sq. ft.
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785 sq. ft.
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1,310 sq. ft.
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