|
|
|
 |
Carver Terrace, Washington, DC
PROJECT
DESCRIPTION
|
Number
of Units
|
|
|
Homeownership |
0
|
|
|
Rental |
312
|
|
|
Total Units |
312
|
|
|
Unit Type |
# |
Size |
# |
Square Footage |
|
Townhouse |
|
1 BR |
63
|
596
|
|
Multi-family |
312
|
2 BR |
156
|
728
|
|
Semi-detached
|
|
3 BR |
93
|
893
|
|
Detached |
|
4 BR |
|
|
| Income Mix |
|
|
|
226
|
(0 to 49%
AMI)
|
|
66
|
(50 to 79% AMI)
|
| Other
Facilities |
|
|
Community
Space |
yes |
10,000 SF
|
|
Day
Care |
no |
n/a
|
|
Commercial |
yes |
1,000 SF
|
| FINANCING SOURCES |
| Source
|
Type |
Amount |
DC Housing Finance Agency
|
Debt
|
$15,350,000
|
Fannie Mae
|
Debt |
$1,500,000
|
DC Dept. of Housing and
Community Development
|
Debt |
$1,335,000
|
MMA Financial LIHTC investment
|
Equity
|
$11,200,000
|
JP Morgan Chase construction
loan
|
Debt |
$15,350,000
|
DEVELOPMENT COST
|
| Total Cost |
$35,500,000
|
| Per Unit Cost |
$113,782
|
PHASING
|
| Start |
Apartments: 2001
Community
Center: 2004
|
| Completion |
Apartments:
December 2003
Community
Center: February 2005 |
DEVELOPMENT
TEAM
|
| Owner |
Carver Terrace, L.P.
|
| Participant |
Telesis Corporation |
Role: Developer
Partner
|
| Participant |
Carver Terrace Tenants Association
|
Role: Development
Manager |
|
| Participant |
Neighborhood Partners, LLC
|
Role: Property
Manager |
|
|
| Participant |
TCM
|
Role: Construction
Manager |
|
| Participant |
Austin Spriggs
|
Role: Architect
Design (apartments) |
|
| Participant |
Sorg and Associates
|
Role: Architect
Construction (administrator) |
|
| Participant |
Roland Richardson
|
Role: Architect
(community center) |
|
| Participant |
Bradley Site Design, Inc.
|
Role: Landscape
Architect
|
|
STATUS:
|
Apartments and
Community Center completed and occupied.
|
|
|
