|
|
|
 |
Riverview, Cleveland, OH
PROJECT
DESCRIPTION
|
Number
of Units
|
|
|
Homeownership |
519 |
|
|
Rental |
81
|
|
|
Total Units |
600
|
|
|
Unit
Type |
# |
Size |
# |
Square
Footage |
|
Townhouse |
53 |
1 BR |
120 |
|
|
Multi-family |
547 |
2 BR |
420 |
|
|
Semi-Detached |
|
3 BR |
60 |
|
|
Detached |
|
4 BR |
|
|
| Income Mix |
|
|
|
Replacement
Public Housing Units |
81 (10
to 40 %
AMI)
|
|
Market rate |
519
|
| Other
Facilities |
|
|
Community
Space |
no |
n/a
|
|
Day
Care |
no |
n/a
|
|
Commercial |
yes |
20,000
SF
|
|
| FINANCING
SOURCES |
| Source
|
Type |
Amount |
| HOPE VI / Tax Exempt Bonds |
Debt |
$8,500,000 |
| Private Construction Financing |
Debt |
$58,000,000 |
| Mezzanine / Equity |
Equity |
$19,500,000 |
| Cleveland Housing Trust |
Grant |
$900,000 |
| LIHTC Equity |
Equity |
$5,500,000 |
| Other |
|
$1,000,000 |
|
DEVELOPMENT COST
|
| Total Cost |
$90,000,000
|
| Per Unit Cost |
$150,000
|
|
PHASING
|
| Start |
April
2006
|
| Completion |
December 2010
|
|
DEVELOPMENT
TEAM
|
| Owner |
Cuyahoga
Metropolitan Housing Authority
|
| Participant |
Telesis Corporation |
Role: Developer |
| Participant |
Goody Clancy & Associates |
Role: Architect |
|
|
| Participant |
City Architects |
Role: Architect |
| Participant |
Marous Brothers Construction |
Role: Contractor |
|
|
| Participant |
Ohio City Near West CDC |
Role: Consultant |
|
|
| Participant |
Progressive Urban Real Estate |
Role: Marketing |
|
|
|
STATUS:
|
| Awaiting HUD
approval of master plan. |
|
|
