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NALHFA Celebrates National Community Development Week April 17-22
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National Community Development Week NALHFA Member Spotlight
National Community Development Week continues with another NALHFA member spotlight. Below are projects submitted for the Multifamily Excellence category of the NALHFA Awards program.
Be sure to follow NALHFA on
Facebook,
Twitter, and
LinkedIn to see what we're up to for the rest of Community Development Week!
Multifamily Excellence Category
Richards Crossing
Nevada Rural Housing Authority
 With a vision of opening doors so that every rural Nevadan has a home they can afford, Richards Crossing will help tenants maintain shelter, learn new skills and move towards autonomy. It incorporates housing units, an on-the-job training facility and community support services that are necessary to provide veterans, homeless and extremely low-income individuals with tools and skills to overcome life and workforce barriers and to help them successfully attain self-sufficiency.
In 2016, in conjunction with several funding sources including tax credits and $1 million HOME funds through the Nevada Housing Division, the Federal Home Loan Bank, Carson City CDBG funds and Home Depot, NRHA broke ground on the Richards Crossing housing facility set to begin leasing April 1. HOME funds were an essential part of the financing package for Richards Crossing. In fact, thanks largely to a generous award of HOME funds from the Nevada Housing Division, Richards Crossing was completed without any debt! This will keep rents as low as possible for the formerly homeless tenants who will be calling the project home.
Enclave at Westport
Fort Worth Housing Finance Corporation
 Enclave at Westport is a workforce housing development located on 22 acres near Westport Parkway and Alta Vista Road. Nearby work sites include Facebook (estimated completion 2018), Amazon, Charles Schwab (completion TBD), DFW and Alliance Airports, and Texas Motor Speedway. The Alliance Opportunity Center matches candidates to open positions in the area and Erma C. Johnson Hadley Center offers training programs in aviation and logistics.
The 339 mixed-income unit multifamily complex includes a playground, resort style pool, and a multi-purpose field for outdoor activities such as soccer, volleyball, etc. The one, two, and three bedroom units range from 620 to 1,370 sq. ft. with 55% of the units affordable to households earning 80% or less of area median income (AMI) as established by HUD.
John & Anita Ferguson Senior Residences
Housing Finance Authority of Miami-Dade County
 John and Anita Ferguson Senior Residence is a 79-unit new construction midrise located in unincorporated Miami-Dade County. The development is comprised of 42 one-bedroom and 37 two- bedroom units. 15% of the units (12) are set aside for seniors earning 30% or less of the area median income ("AMI"). 85% of the units (67) are set aside for seniors earning 60% or less AMI. All units are accessible to persons with disabilities. John & Anita features amenities including a business center, fitness center and a full sized swimming pool.
The construction was made possible by the collaboration of several entities including the Housing Finance Authority of Miami-Dade County, Citi Community Capital, Miami-Dade County and Second Baptist Church CDC.
RAD 6 Multiple-Site Multifamily Redevelopment
Housing Opportunities Commission of Montgomery County
 Through HUD's Rental Assistance Demonstration (RAD), HOC leveraged the value of its assets to bring in private capital and support the comprehensive rehabilitation of 268 formerly Public Housing units. HOC used the opportunity to deconcontrate poverty, swapping 59 deeply affordable units at the sites with market rate units, affordable at 80% of AMI. The 59 deeply affordable units were relocated to other properties, preserving the total number of affordable units in the community.
HOC used an innovative approach to pool the finance transaction for the six scattered site developments, augmenting the overall debt service potential. By pooling the sites and inserting 59 (22%) market rate units, the supportable loan value increased, enhancing the net rentable area of 284,897 square feet. Taken separately, the net rentable area of the properties ranged from between 22,525 to 72,659 square feet. This financing strategy supported just over $60,000 in per unit hard cost investments. As a result, HOC has preserved 268 low-density, affordable and deeply affordable, multi-family and single-family units across a 500 square mile area just outside of Washington D.C., reducing the average age of these assets from 39.33 years to 1.5 years.
Are you celebrating Community Development Week? Let us know! Send your stories to hvoorman@nalhfa.org and we will share your stories and events on social media.
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