GREEN OAK COMMONS 2019 Federal Home Loan Bank of Boston Affordable Housing Development Competition
CONTENTS Mission & Vision Executive Summary Judging Criteria Project Vision Our Sponsor Community & Site Neighborhood History Site Context The Community Design & Program Architectural Design Engaged Programming Landscape Strategy Incorporated Sustainability Finance & Feasability Project Overview Sources & Uses of Funds LIHTC Application Operating Budget Pro Forma Development Timeline Conclusions
Meet the team! SPONSORS & MENTORS Sponsor: The Community Builders (TCB) Kristin Anderson Faculty Advisor: Harvard Joint Center for Housing Studies Chris Herbert Finance Mentor: The Grossman Companies Benjamin Stillwell Design Mentor: Meander Studio Michael Wolfson Special Thanks We are deeply grateful for the kindness, trust and dedication of the residents and neighbors of Hartford’s Sheldon Charter Oak neighborhood, who welcomed us into their community. Their knowledge and passion made this proposal possible. We would like to particularly acknowledge the generosity of: • Lynn Ferrari of the Coalition to Strengthen The Sheldon/Charter Oak Neighborhood (CSS/CON) • Matthew Straub of Sheldon Oak • Dara Johnson of Dutch Point • Lesley Higgins-Biddle of LISC Connecticut • Edward Marchant of the Harvard Graduate School of Design • Kevin Brown, Yohanny Pineyro, Nicolas Gastello, Rachana Crowley, Virginia Keesler, and Domenic Butler of The Community Builders
STUDENT TEAM Gregory Adams
Ayami Akagawa
Masters in Public Administration Harvard Kennedy School
Masters in Landscape Architecture Harvard Graduate School of Design
Abdul-Hakeem Buhari
Emma Daugherty
Masters in Public Administration Harvard Kennedy School
Diana Guo Masters in Landscape Architecture Harvard Graduate School of Design
Masters in Public Health Harvard Chan School of Public Health
Kyle Ozycz
Masters in Architecture Wentworth Institute of Technology
John Paul
Simon Paulin
Masters in Architecture Wentworth Institute of Technology
Masters in Public Administration Harvard Kennedy School MBA Dartmouth Tuck School of Business
Sarah Robinson
Joseph Taglia
MBA MIT Sloan School of Management Masters in Public Administration Harvard Kennedy School
Masters in Architecture Wentworth Institute of Technology
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MISSION & VISION
EXECUTIVE SUMMARY Sheldon Charter Oak is Hartford, Connecticut’s oldest neighborhood—a community that was home to some of the most significant events in American democracy and industry. The neighborhood is currently helping fuel Hartford’s regeneration, as host to a new urban national park and renovated sports venue. Yet, Hartford residents still struggle to find quality affordable housing that is well connected to Hartford’s urban opportunities. Economic pressure, a lack of healthy food options, and car-dependence create health challenges for locals. Green Oak Commons is our proposal to build a modern, connected, healthy community that is linked to Hartford’s history and the neighborhood’s venerable assets. We aimed to build on the success of The Community Builder’s (TCB) Dutch Point development by seeking to plan new quality housing and welcoming outdoor spaces that encourage exercise and reduced automobile use while drawing neighbors closer together. We sited the new structures to encourage maximum usage of existing amenities like the community center and 105-acre Colt Park, linking them with welcoming landscaped spaces.
127
+ 61
26
& 35
EXISTING UNITS ON SITE
TOWNHOUSE STYLE UNITS
maximize the allowable density in service of the community’s desire to grow its population
NEW RENTAL HOUSING UNITS
APARTMENT UNITS
UNIT BREAKDOWN
54
units for low-income/extreme low income residents
7
market rate
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EXECUTIVE SUMMARY AMENITIES & FEATURES Green Oak Commons seeks to serve the energy and leadership in the Sheldon Charter Oak community with a plan that ensures all residents can live healthier, more connected lives and join in Hartford’s urban renaissance. New amenities such as playground and outdoor exercise equipment, barbecue grills, landscaped paths, a marked walking trail, a dog park, and secure bike parking connect residents to each other, the neighborhood, and the broader Hartford community. Our design features the front porches and shared spaces requested by residents to encourage neighborly interaction. Hardy, attractive plantings provide four-season color and require limited maintenance. And a thoughtfully-structured financial model provides the resources necessary to sustain the full-time resident services requested by local residents during community meetings.
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GREEN OAK COMMONS AT A GLANCE UNIT TYPES 14 1br 29 2br 18 3br
AFFORDABILITY 25% AMI (Extremely Low Income): 13 units 60% AMI: 41 units Market Rate: 7 units
FINANCING $11m in LIHTC $500k in State HTCC $241.66/GSF in Development Costs
MISSION & VISION Mission: Our mission is to create affordable housing that helps residents improve their health and quality of life by connecting them with neighbors, outdoor recreation, and local amenities. Our design will provide residents with opportunities to improve their health and wellness by creating welcoming outdoor spaces, links to local parks and recreation, sustainable design, and alternative forms of transportation.
OUR SPONSOR The Community Builders (TCB) is a 501(c)(3) organization that develops and manages homes for families and seniors of all incomes. Their mission is to build and sustain strong communities where people of all incomes can achieve their full potential. TCB owns or manages more than 11,000 homes in 38 communities, providing support to over 5,600 families across 14 states and the District of Columbia.
Vision: Our vision is a community that achieves its ambitions of building a denser, more prosperous, diverse, vibrant and connected neighborhood where all residents enjoy a healthy outdoor lifestyle. In this vision: • Longtime residents can welcome newcomers without fear of displacement through gentrification; • Increased population density will attract new shopping options; • Residents can walk or ride to nearby jobs, local retail and public amenities. • New outdoor landscaped spaces provide residents a place to mingle and exercise.
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KEY JUDGING CRITERIA
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COMMUNITY RESPONSIVENESS
We spent over 30 hours on community outreach and fostering a close relationship with the local community developer, TCB to make sure that our design aligns with existing resident needs. We considered both the immediate tenant needs and the long-term city masterplan for the neighborhood when creating the project mission and focus on connectivity and health. We connected with local financial organizations to discover best local
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funding sources to leverage.
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New proposal complements current Dutch Point phase I and II developments. By not duplicating existing capacities we were able to add new services for all Dutch Point residents. Developer has site control and a strong working relationship with the city of Hartford and local organizations, which will facilitate the necessary city and community support to ensure timely execution. We worked hand in hand with our developer team at TCB to ensure our proposal would meet their needs and serve as a blueprint for their work moving forward.
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ENVIRONMENTAL SENSITIVITY
Smart growth principles, including our focus on designing a walkable community and emphasizing the connection to the open space in Colt Park guide our design. Rainwater collection on the roof will filter rainwater and be recycled for irrigation of the local landscape. Solar panels placed on rooftop of the large building for energy conservation The landscaping increases the ecological biodiversity and complexity by using native plants. We reduced heat island impact through canopy shade of tree species that are accustomed to the local climate. Our design keeps impacted soils on site covered with 2-4 feet of topsoil to reduce yard waste and recycle construction waste.
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PHYSICAL DESIGN
Our design integrates outdoor landscape seamlessly with the existing and proposed architecture in the neighborhood. We took resident requests/feedback seriously to incorporating community elements like shared front porches that merge into outdoor landscape, enhancing community gathering space The offset peaked roofs speaks to historic preservation ideals while also implementing contemporary styles, create a classic and timeless aesthetic that will remain attractive to residents and relevant for years to come. Ultimately, our design fills the missing the gaps in the existing neighborhood and is a foundation to encourage future development in the surrounding area.
Our plan provides a varied unit mix that focuses on ensuring long-term housing affordability for extremely low and very low income residents, while simultaneously increasing the neighborhood’s income diversity by adding ~10% market rate units. We have identified key gap-filling financial resources, such as the Community Connectivity Grant, which tie directly into the project’s mission of enhancing the health and connectivity of residents. We leveraged economies of scale to capitalize on existing resources that service current residents to enable the financial feasibility of adding a full-time Community Life Coordinator role to foster stronger community engagement among residents.
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PROJECT FEASABILITY
PROJECT FINANCING
PROJECT INNOVATION
Our design redefines what it means to live a balanced, healthy lifestyle in an interactive and inclusive neighborhood. We [feature] creative outdoor programming that sparks opportunities to be closer to nature for all ages, fostering 1) a sense of physical + mental wellbeing and 2) helping everyone achieve their fitness goals.[An interactive landscape encourages] play, discovery, and learning foryoung folks and adults. The central courtyard functions as an outdoor classroom for local classes, community meetings, and fitness zone. We created a foundation for development of density, increasing walkability score by connecting to local transportation networks. Our design follows Fitwel standards to ensure that our development puts the health and wellbeing of the residents and community at the forefront of our proposal.
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OUR COMMUNITY & SITE
SITE CONTEXT “MISSED CONNECTIONS” Our neighborhood is ideally located to become a thriving community, linked to natural resources and outdoor spaces with the potential to help keep residents healthy and happy. However, these resources currently remain underutilized and unintegrated with the neighborhood. Located just one mile south of downtown Hartford, the neighborhood benefits from views of the skyline and proximity to the growing job market. Recent developments in downtown Hartford include UConn Law School, bringing students and the need for more affordable housing, as well as the Dunkin Donuts ballpark area redevelopment. This development is mixed-use and includes housing, both market rate and affordable, as well as retail, among other amentinities. In addition, the neighborhood is surrounded by outdoor amenities. Running along the east of the neighborhood is the Connecticut River, which offers river walkways and boating in the warmer months. Directly south of the neighborhood is Colt Park and Dillon Stadium. Over 105 acres, Colt Park boasts two pools, playground equipment, a track, and baseballs fields, among other sports fields. There is an effort to create a “Charter Oak Mile,” a historic walk that would go through the neighborhood and connect the State Capitol Building to the Colt Factory, Dillon Stadium, and river. The neighborhood has a walk score of 70, with the closest public transportation only 0.2 miles away.
school
hospital
church
park
art facility
community center
“Sheldon/Charter Oak is a Front Porch Community.” “This community center used to be a hub of activity. I wish it was open more often.” - Sheldon Charter Oak residents
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NEIGHBORHOOD ACTIVITIES THROUGHOUT THE DAY ALL ABOUT PEOPLE!
Intensity of Activity in Neighborhood
PARK USERS VISITORS EXERCISERS
ELDERLY
CHILDREN
RESIDENTS (WORKING AGE)
0
1
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5
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Time of Day
Our team members were able to spend time in the neighborhood with various residents and stakeholders. Several residents described their neighborhood as a “front porch community”; they were adamant about having housing that encouraged neighbor interactions. Local shopping is also a challenge; residents currently must drive several miles to buy groceries. Residents want more housing as a draw for local shops.
Residents told us that they valued having Colt Park nearby but felt that the park could see more us with more investment from the City of Hartford. While residents considered their neighborhood to be one of the safest in Hartford, they were frustrated by one local business that they felt was a magnet for crime and nuisance activities.
One resident of the Dutch Point development spoke of the value of Dutch Point’s Community Center as a hub for the community and asked for budget to be devoted to keeping the center open for more hours.
“There is an interest in expanding the playground, and using the open space to the south of the community center as a gathering spot for the community. Perhaps we could add charcoal grills?” - Sheldon Charter Oak residents
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NEIGHBORHOOD HISTORY Sheldon/Charter Oak is the oldest neighborhood in Hartford, dating back to a Dutch fur trading post was established in 1623
The Magical Summer of 1976: people gathering as a community in Colt Park, CT, The Ungrateful Dead concert
The neighborhood was primarily shaped in the 19th and 20th Centuries by one of America’s early industrial giants, Colt’s Patent Firearms Manufacturing Company
1623
The neighborhood was the site of the “Charter Oak,” a stately White Oak tree planted by the Saukiog people before European settlement/colonization, when Dutch fur trading post was established.
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1800s
1687 In 1687 King James II attempted to revoke the Connecticut Colony’s rights under English law, so the colony’s leaders hid the original royal charter in the tree. The tree became an early symbol of American independence and self-government, and even today is a celebrated emblem of Connecticut’s identity.
The company pioneered key innovations, such as assembly line production and co-working spaces. The factory’s famous blue onion dome, studded with golden stars, has been a local landmark since the Civil War.
The grounds of the Colt family estate were donated to the city in 1905 and now make up the 105 acre Colt Park at the south edge of our site.
1905
20th century The Colt Factory encouraged the settlement of various waves of immigrant workers, particularly Germans, Poles and Puerto Ricans
A SERIES OF HOUSING DEVELOPMENTS AT DUTCH POINT
Beginning in 2004, a public-private partnership redeveloped the landmark Colt Factory buildings to anchor the neighborhood with housing and commercial space.
2004
After World War II, the City of Hartford built the Dutch Point Public Housing Project in the neighborhood. This low-rise project served its residents well for many years, but eventually suffered from the same underinvestment and stigma of other mid-20th Century public housing properties.
In the wake of Hurricane Maria in 2017, more refugees and immigrants of Puerto Rican descent are moving into Hartford
2017
2029 By 2029, residents of all ages find programming that match their needs in the neighborhood’s interlinked healthy/ fitness corridors. The town celebrates the rich and diverse heritage of its residents and residents feel that they can succeed in a highly walkable, interconnected neighborhood that prioritizes public health.
In 2002, the City of Hartford partnered with TCB to build new housing on the site. Over the next decade, TCB constructed 127 rental units, and planned to build 58 ownership townhomes; however, the decline of the housing market in 2007 put a damper on these plans after only 27 townhomes were built.
In 2019, TCB asked our team to imagine how to use the remaining 1.9 acres on the site to help the neighborhood achieve their vision of a denser, more connected, active and thriving community.
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ECONOMIC CHALLENGES
THE PEOPLE
When the 2008 recession hit, it hit Connecticut hard. Connecticut struggled to recover and many high wage jobs, such as those in finance and manufacturing, moved to other states instead of making a comeback. Instead, they were replaced with low wage jobs including roles in hospitality and administration.
Hartford, and the Sheldon Charter Oak neighborhood in particular, is home to a thriving, diverse and integrated population. As demonstrated in the graph below: 44% of Hartford residents are Hispanic/Latino and 27.1% are Black/African American. The multilingual diversity of Hartford is evident in the fact that nearly 50% of Hartford’s residents speak a language other than English.
44% Hispanic/ Latino Resident Population
27.1% Black/African
American Resident Population
30.9 yrs median age 9.9% unemployed,
compared to 4% nationwide
HEALTH OUTCOMES The residents of Hartford County suffer from poor health outcomes and chronic conditions, many of which are impacted and made more severe due to poor living conditions. More than 14% of the county suffers from asthma, 13% have diabetes, and 25% of the population deals with depression, all of which are much higher in Hartford than average rates across the state.
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11.1% residents who
have no health insurance coverage (national avg. 8.8%)
HOUSING CRISIS The Hartford housing market, and the Sheldon Charter Oak neighborhood in particular, is in need of more affordable housing. While the median household income in Hartford is $33,841, just one mile from downtown in Sheldon Charter Oak, the median household income is far less at $29,194. In addition to more affordable housing, rentals, rather than homeownership like TCB first imagined, will be most successful. Overall in Hartford 76% of the housing units are renter occupied and in the Sheldon Charter Oak neighborhood that jumps to more than 94% of the units. Additionally, there is a need for new housing stock as 41% of the currently occupied houses were built in 1939 or earlier. We heard from residents that they want a neighborhood that is densely populated and more closely resembles the streets of downtown rather than their suburban neighbors.
“When the city tried to redo the housing project in 1990s and turn it into suburban style housing, the neighborhood rebelled-they want urban character--they are a dense, downtown neighborhood.” - Sheldon Charter Oak resident, March 2019
$33,841 Hartford median
household income
76% Hartford housing units are renter occupied
$29,194 Sheldon Charter
Oak median household income
94% Sheldon Charter
Oak housing units are renter occupied
Despite constraints, the Sheldon/Charter Oak neighborhood benefits from a strong civic culture and sense of community engagement. The “Coalition to Strengthen the Sheldon/Charter Oak Neighborhood” (CSS/CON) has served as the state-designated neighborhood revitalization organization since 2002. CSS/CON’s Neighborhood Strategic Plan testifies to a neighborhood consensus in favor of new mixed-use development and increased density of housing to support local retail.
URGENT NEED FOR AFFORDABLE & NEW CONSTRUCTION 41%
of currently occupied housing was built
32% households pay
more than HALF of their income on rent
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TRANSPORTATION MOBILITY & (IM)MOBILITY In addition to their desire for a denser neighborhood with more housing, residents continued to emphasize their desire for improved transportation and overall mobility.
Modes of Transportation
In addition to commuting, residents want more ways that they can get out and enjoy the neighborhood, that will also connect them to the broader community. One woman shared that she would go out and walk in circles around the church parking lot just to get a bit of exercise.
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average daily commute time to work
15.2 %
residents use public transit
The neighborhood is ideally located to take advantage of the alternative modes of transportation. The city’s public bus system is an asset with the closest stop only 0.2 miles away and other bus lines also within range. The flat terrain around the neighborhood makes biking a good option. Last year, Hartford hosted the bike share company Lime Bike, but in early 2019 the Mayor ended the partnership. No specific reason was cited, only that Lime wanted to focus more on electric scooters rather than bikes. Now, without access to a bike share, residents need other ways to access and store bikes if they want to use this method of transportation.
24 min.
0.02 miles to closest bus stop
0.5%
only residents bike to work
Commute Time to Work
“Ultimately we want more people walking through the neighborhood, and more people living in the neighborhood.” - resident, March 2019
PROPOSED PROGRAM: A CELEBRATION OF COMMUNITY
Mental Wellbeing
STABILITY
Sense of Belonging
Socialeconomic Mobility Visiting Greeting Guests
Committee Meetings Connected Corridors
Schools (Outdoor Classroom) Church
Departure
Coffee Time
Friends Reunion Outdoor Hangout
HOUSING
Community Center Murals
Dog Park
Working from home
Working
Arrival
Entrance
Resting Adults Hang Out after Work
Visitors
MEANINGFUL
Local Residents
CONNECTION Cross Generational Connections
Shared Fitness Equipment Outdoor Fitness Classes
PARK
Neighborhood Outdoor Meetings Community BBQ Garden Mendering Space
ColorCoded Bike Lanes
Front Porches
Outdoor Walk/Run Track
FITNESS LIFESTYLE
Visitors Gym
RELAX & PLAY Exercising (early morning)
FAMILY
Entrance
Children
Physical Wellbeing
Elderly
Kids Hang Out
Workshop (outdoor)
Exercising (evening)
Inspired by Nature
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OUR COMMUNITY OUTREACH PLAN We began this work well positioned in the community because TCB had established strong connections. Throughout the research and design process, we involved multiple residents, community members, and development team members. As TCB continues this work forward, we encourage them to partner with the community in:
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COMMUNITY ART & CULTURE
Partner with the community to paint local signs and neighborhood markers Feature local women of color artists on murals along school pathways and intersections to celebrate Latino/Boricua visual cultures and heritage and create sense of belonging Collaborate with local art groups like Guakia (Puerto Rican Arts Org.)
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MOBILITY & TRANSPORTATION
We will continue to work with BiciCo for input on bike paths, storage, and maintenance Engage residents in the implementation of bike infrastructure to create buy-in and enthusiasm around biking Tactical urbanism: Painting the sidewalk circling around the neighborhood with distance markers to promote fitness activity
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RESIDENTIAL STAFFING To oversee the community engagement, we have allocated funding for a full time Community Life Coordinator (CLC) to foster strong engagement among residents The CLC will focus on residential services and events to ensure the community continues to be engaged every step of the way and ultimately serves to utilize the community center and the outdoors areas to their full potential for the benefit of the residents.
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HEALTH & WELLBEING Our moonshot goal with community engagement is to empower the residents to work with the City of Hartford to convert the bodega into a community health center. Residents reflected that the bodega is a hub for crime and they felt it detracted from the value of the neighborhood. Using this space as a community health center to provide convenient primary care services will improve access to better health services, and lead to improved health outcomes, for the community.
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OUR DESIGNS: ARCHITECTURE & LANDSCAPE HARMONY
THE APARTMENTS The design of the new townhouses at Green Oak Commons reflects the traditional style of the surrounding homes in the Sheldon/Charter Oak neighborhood with its pitched roofs, front porches, and 3 story height. The new buildings offer a contemporary spin on the traditional gable pitched roof, sliding them off their center axis. These roofs also give shelter to numerous balconies below, allowing the façade of the building to flourish with the life, energy and activity that residents told us they value. The new larger apartment building on site hugs the corner of Stonington and Norwich Street. A bodega currently sits across the street on Norwich Street which in recent years has seen crime and undesirable activity. To help deter some of this behavior, the building leaves the corner open rather than creating a hard edge condition. It fronts the space with a full height glass corner which houses communal breakout spaces on each floor. With these active spaces being widely visible from the street while staying well-lit through the night, the street corner and surroundings will be open to view and receive ambient light from the building. Lighting here is essential, as rates of crime including robbery, burglary, larceny, and motor vehicle theft are higher in Hartford County than across the rest of the state. During the day, the corner is home to a dog park for residents in the area, providing activity at this space in hopes to deter illicit activities across the street. On the opposite, Eastern end of the building, the structure’s placement opens up the corner of Osten Boulevard and Stonington Street to landscaping interventions. The placement of this building not only continues the rhythm of apartment-style buildings along Norwich Street, but also creates a direct connection from the existing community center to Colt Park. Allowing Colt park’s edge to bleed into the Green Oak Commons park space creates greater accessibility to nature and the park’s amenities such as its community swimming pool, sports fields, walking paths and playgrounds.
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ARCHITECTURE The balconies along the townhouse facade give the community a “front porch feel” which is something that residents have longed for in order to increase safety and a sense of community. The new townhouses implemented also have balconies on the rear, adding life to both facades as people spend time on their balconies overlooking the street or landscaping. The 26 townhouse units are grouped into four three-story townhouse-style buildings. The design of these buildings are entirely consistent with existing zoning regulations for the site,. The 35-unit apartment building is built to the local zoning, with the exception of its height; it will require a variance for its fifth floor, as the existing zoning only permits four-story structures. This fifth floor is financially necessary to justify the expense of the elevators required for structures four stories and higher. We believe this variance can be justified by the community’s desire for greater density and the site’s close proximity to denser zoning districts, downtown Hartford, and local city bus lines. The site’s zoning also requires only one parking space per unit. As the existing buildings on site have a surplus of parking, this permitted us to devote more open space to landscaped common areas.
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ARCHITECTURE The design of the larger apartment building on the site is situated to allow communal spaces to receive views of important surrounding spaces. Residents relaxing in the lounge space on the ground floor will not only see views of the new landscaping but also its connection to the existing Colt Park across the street. The roof patio offers vast views far past the reach of the site. With its placement at the end of the building, looking east, residents can see the Connecticut river not far away. The view north looks out on the Hartford skyline while the view south gives sweeping views of Colt Park. The breakout space within the hallway gives views not only to Colt Park but also to the newly implemented Dog Park. This breakout space, being well lit at night, will illuminate the street corner providing a safer space along Stonington and Norwich Street. We heard residents express a desire to keep their neighborhood as a dense, urban community. This is consistent with the long-range strategic plan managed by the state-designated neighborhood revitalization non-profit, the Coalition to Strengthen the Sheldon Charter Oak Neighborhood (CSS/CON). Residents particularly want to encourage housing density to attract more local retail, to improve grocery options in the neighborhood. Hartford recently adopted a new, form-based zoning code. The zoning district that includes our site (NX-1) permits several different multi-family building types, including townhomes and apartment buildings. The NX-1 code requires maximum 35% site coverage for apartments and 55% site coverage for townhouses, as well as a 2’ set back and a minimum of 30’ deep occupied space.
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TAILORED UNIT TYPES APARTMENT UNIT TYPES TOWNHOUSE UNIT TYPES
The Rodriguez family lives in a 2-bedroom unit in a newly polished townhouse facing the community gardens. The young children share a room and have plenty of space to play both indoors and outdoors. During the weekends, outdoor classroom programming allows the kids to learn a new sport while their father Jose does the laundry and the mother goes to her evening work shift.
Joanne, a retired elementary school teacher, lives in a 1BR in the apartment, where she can tend to her plants in the rooftop garden. In the morning she goes on her daily walk around the tracks, and checks on how well the flower meadows are thriving on her way home. As a senior, she feels valued in her community.
Pablo and David, a recently married couple, recently moved to CT from Puerto Rico and are adopting a daughter, who will live in the extra bedroom. During the weekends, they like to exercise in the community garden.
Artero’s family lives in a two-floor townhouse apartment with three bedrooms. With three children and another along the way, they can really take advantage of the twolevel apartment. The extra lounge space becomes a music room for storing the kids music instruments. Artero’s commute to work is only 16 minutes by bike, thanks to the new interconnected infrastructure. Their kids are also learning how to bike.
Jacy and Kevin are cross country enthusiasts who also teach weekend classes in group fitness. Jacy works as a computer programmer from home, while Kevin’s commute to work is only 5 minutes by bike. Recently, they welcomed their father, a war veteran from Guatemala to come live with them. They live in a 3-bedroom unit, and are considering renting out the third to a friend who is immigrating to the U.S. next month.
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1
2
3 Jogging Track Red Dogwood + Winterberry Black Cherry Japanese Stewartia
Red Maple
Play Garden 2 Native Flower Meadow Garden 3 Perennial Plant Landscape 1
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LANDSCAPE STRATEGY LANDSCAPE FEATURES THAT PROMOTE ACTIVE LIFESTYLE & INSPIRES CURIOSITY
Playful Landform
Marked Paths Japanese Stewartia Trees
Legend Proposed Gardens New Development
Open Green
Kids go to School
Outdoor Fitness Equipment
Community Art Murals
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8:00 - 9:00
Seniors Morning Exercise Adults commute to work 17:00 - 19:00
Color Bike Lane
Kid Playground
Jogging Path with distance markers every 100 m.
Event Plaza
After-work leisure Outdoor Walk
Community Art Murals
OUTDOOR GYM
COMMUNITY LANDSCAPE
SEASONALITY
VEGETATION STRATEGY WINTER SEASON Detail Feature: cold-resistant trees with bright color as a way to highlight pathways
Vegetation Selection: Redrosier Dogwood, Japanese Stewartia
THROUGH
Native Connecticut Wildflowers for Fragrance - an ‘edible’ garden to inspire & promote a sense of belonging and ownership of Green Oak Commons 12 Months of the Year Bloom Low Maintenance
UNDER
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SUSTAINABILITY
Structural design maximizes natural ventilation to reduce use of AC and electricity Roof Gathering Water
Vertical Green Wall Rain Water Re-use on Vertical Green
1 2
3 1
Green Patch Absorbs Rain Water and manages urban runoff
Existing Parking
Proposed Parking
Lot Condition
Lot Configuration
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Improve Ground Surface Porosity to Manage Rainwater Runoff Control
Smart (auto/sensory) LED lights conserve energy
1 2 3
Smart Green Infrastructure Structural Sustainability Outdoor Facilities Promote Activity
LEED
Structural Sustainability
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PROGRAM: SOCIAL SERVICES
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SMART GROWTH
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OUR FINANCES
PROJECT OVERVIEW Unit types One-Bedroom Two-Bedroom Three-Bedroom
Plot A: 5-storey building Size Per Unit (NSF) 750 1000 1500
Total Unit types Two-Bedroom Three-Bedroom
Number of units
Total NSF
14 15 6
10500 15000 9000
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34500
Plot B + C: Townhouse-Style Size Per Unit (NSF) Number of units 1000 1500
Total Green Oak Commons leverages a combination of federal, state, and local financial resources to bring new long-term affordable housing units to the Sheldon/ Charter Oak neighborhood. TCB has a long standing relationship with the city of Hartford and the state of Connecticut, including through their partnership on the first two phases of Dutch Point, which were funded with a HOPE VI grant. This strong working partnership will further facilitate the economic efficiency and timely execution of the Green Oak project. TCB has site control at a cost of $0 from the City of Hartford for all of the plots that our proposed project will cover, which has helped keep down the overall total development costs and enhance the long-term financial feasibility of the affordable units. Additionally, we have identified key gap-filling financial resources, such as the Community Connectivity Grant and Corporation for Supportive Housing grant, which tie directly into the project's mission of enhancing the health and connectivity of very low income residents residents.
Total NSF
14 12
14000 18000
26
32000
Existing residents have expressed a wish for increased density and more mixed income projects in the neighborhood to attract local commercial amenities, such as a grocery store or bank within walking distance of the development. As a result we have created a proposal that we believe is financially feasible given the Connecticut Housing Finance Authority’s funding resources, while simultaneously increasing density (by adding 61 units to the existing 127 units in the development) and adding units at a variety of income levels, including 13 extremely low income units (25% AMI), 41 low income units (60% AMI) and 7 market rate apartments. Unique to this project is our ability to make use of the existing maintenance and administrative capacities of the current Dutch Point development (127 units) to keep these aspects of the operating budget low, which frees up additional capital to hire a full-time Community Life Coordinator. This Coordinator will serve to foster stronger community engagement among residents throughout Dutch Point's thoughtfully designed community areas such as the community center and shared green spaces.
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SOURCES & USE OF FUNDS Sources of Funds Public Equity & Soft Debt
Total
Per Unit
Per GSF
% of Total
$15,284,056
$250,558
$195.36
80.84%
Federal LIHTC Equity
$11,016,642
$180,601
$140.81
58.27%
State HTCC Equity
$500,000
$8,197
$6.39
2.64%
DOH CHAMP
$2,000,000
$32,787
$25.56
10.58%
HOME Loan
$1,000,000
$16,393
$12.78
5.29%
CDBG Grant
$2,000
$33
$0.03
0.01%
GP Contribution
$100
$2
$0.00
0.00%
Melville Charitable Foundation
$50,000
$820
$0.64
0.26%
Corporation for Supportive Housing
$50,000
$820
$0.64
0.26%
Community Connectivity Grant
$250,000
$4,098
$3.20
1.32%
Energize Connecticut
$91,500
$1,500
$1.17
0.48%
Developer Fee Deferred
$323,814
$5,308
$4.14
1.71%
$3,622,413
$59,384
$46.30
19.16%
$3,622,413
$59,384
$46.30
19.16%
$18,906,470
$309,942.12
$241.66
100.00%
Hard Debt FHL Banks Loan Total Sources
Uses of Funds Total
Per Unit
Per GSF
% of Total
Land Costs
$0
$0
$0.00
0.00%
Acquisition
$0
$0
$0.00
0.00%
$12,517,647
$205,207
$160.00
66.21%
$12,517,647
$205,207
$160.00
66.21%
Soft Costs - Construction
$2,503,529
$41,041
$32.00
13.24%
Soft Costs Construction
$2,503,529
$41,041
$32.00
13.24%
Soft Costs - Financing
$1,009,528
$16,550
$12.90
5.34%
Soft Costs Financing
$1,009,528
$16,550
$12.90
5.34%
Extraordinary Costs
$781,500
$12,811
$9.99
4.13%
Building Elevators
$160,000)
$2,623
$2.05
0.85%
Landscaping
$213,500)
$3,500
$2.73
1.13%
Soil Remediation
$408,000)
$6,689
$5.22
2.16%
Hard Costs Hard Costs
Other Costs
$2,094,265
$34,332
$26.77
11.08%
Lottery & Marketing Fees
$36,600
$600
$0.47
0.19%
Capitalized Reserves
$388,875
$6,375
$4.97
2.06%
Developer Fee Paid
$1,344,976
$22,049
$17.19
7.11%
Developer Fee Deferred
$323,814
$5,308
$4.14
1.71%
$18,906,470
$309,942
$241.66
100.00%
Total Uses
40
Our overall total development costs are lowered through the free acquisition of the 7 parcels that our units will be built on from the City of Hartford. These cost savings help to offset the cost of necessary soil remediation, planned landscaping additions, as well as the addition of 2 elevators in the development’s apartment building. A comprehensive, detailed analysis of our soft costs for financing, including financing fees and interest paid on pre-development, construction, and bridge loans led to our summarized estimate of our soft costs for financing making up 5.34% of our total development cost. Our hard cost and soft cost estimates of $160 and $32 per square foot respectively are based on comparable developments and guidance from local experts. Finally, we have accounted for lottery and marketing fees of $600 per unit; these resources will be used to help facilitate and expedite the project’s stabilization period. Of the $18,906,470 total development cost, just under 60% will be financed through federal LIHTC funding, hard debt accounting for just under 20%, with the balance made up of state HTCC funding, HOME funding and a combination of community grants. Among these community grants are resources which capitalize on shared values of improving health among low income community residents, including: Community Connectivity Grant: This program seeks to provide construction funding for local initiatives that will improve the safety and accessibility for bicyclists and pedestrians in urban, suburban and rural community centers. Corporation for Supportive Housing Grant: CSH infuses projects and initiatives that include supportive housing with funding that drives expansion, progress and healthy living. Melville Charitable Foundation: MCF supports efforts that connects people to the supports they need - financial, medical, legal - that keep them healthy and housed.
LIHTC APPLICATION Our proposal will consist of 61 units total. 13 units will be priced at 25% AMI to ensure our development creates access to a significant number of extremely low-income residents. The 7 market rate units
Federal LIHTC
ensure that the project is mixed-income reflecting the neighborhoods long-term
Total Development Cost
$18,906,470
Less Acquisition Costs
$0.00
Less Non LIHTC Costs
-$3,656,470
desire to progress economically. Focusing on this extreme income mix will help score highly on the Connecticut QAP points calculation, vital towards obtaining the funding. The remaining units at the 60% AMI income bracket will ensure that we also balance the realities of the neighborhood with the financial needs of the development.
Eligible Basis
$15,250,000
Eligible Basis After 1.3x Boost
$19,825,000
Application Fraction (% LIHTC GSF) Qualified Basis Applicable Rate - 9% Annual LIHTC Allocation Total LIHTC Allocation (10 Years) Investor Ownership Estimated Net LIHTC Yield Per Dollar Estimated Credit Yield
UNIT BREAKDOWN
13
units priced at 25% AMI for extreme low income residents
41
7
unis priced at market rate
units priced at 60% income bracket
TOTAL CREDIT INVESTOR EQUITY PAYMENT
65.00% $12,886,250 9% $1,159,763 $11,597,625 99.99% $11,596,465 $0.95 $11,016,642
State HTCC Allocation
$500,000
TOTAL CREDIT INVESTOR EQUITY PAYMENT
$500,000
41
RENTAL UNIT MIX Townhouse-Style Residential Unit Mix Income Level
Unit Type
25% AMI (Extremely Low Income)
2-BR 3-BR
3
1500
$629
$160
50% AMI (Very Low Income)
2-BR
0
1000
$1,090
$134
3-BR
0
1500
$1,259
$160
$1,099
$0.73
$0
60% AMI (LIHTC Credit)
2-BR
10
1000
$1,308
$134
$1,174
$1.17
$140,880
3-BR
8
1500
$1,511
$160
$1,351
$0.90
$129,648
80% AMI (Low Income) Market Rate
Units
Net Sq. Ft. 3
Avg Rent/Mo. 1000
UA $545
Net Rent $134
Rent/Sq Ft $411
Annual Total Rent $0.41
$14,796
$469
$0.31
$16,898
$956
$0.96
$0
2-BR
0
1000
$1,619
$134
$1,485
$1.48
$0
3-BR
0
1500
$1,870
$160
$1,710
$1.14
$0
2-BR
1
1000
$1,350
$1,350
$1.35
$16,200
3-BR
1
1500
$1,550
$1,550
$1.03
$18,600
Total
$337,022
Total Sq Ft
32,000
Apartment Residential Unit Mix Income Level
Unit Type
25% AMI (Extremely Low Income)
1-BR
50% AMI (Very Low Income)
60% AMI (LIHTC Credit)
80% AMI (Low Income)
Market Rate
Units
Avg Rent/Mo. 750
UA $454
Net Rent $108
Rent/Sq Ft $346
Annual Total $0.46
$12,458
2-BR
3
1000
$545
$134
$411
$0.41
$14,796
3-BR
1
1500
$629
$160
$469
$0.31
$5,633
1-BR
0
750
$908
$108
$800
$1.07
$0
2-BR
0
1000
$1,090
$134
$956
$0.96
$0
3-BR
0
1500
$1,259
$160
$1,099
$0.73
$0
1-BR
9
750
$1,090
$108
$982
$1.31
$106,029
2-BR
10
1000
$1,308
$134
$1,174
$1.17
$140,880
3-BR
4
1500
$1,511
$160
$1,351
$0.90
$64,824
1-BR
0
750
$1,349
$108
$1,241
$1.65
$0
2-BR
0
1000
$1,619
$134
$1,485
$1.48
$0
3-BR
0
1500
$1,870
$160
$1,710
$1.14
$0
1-BR
2
750
$1,120
$1,120
$1.49
$26,880
2-BR
2
1000
$1,350
$1,350
$1.35
$32,400
3-BR
1
1500
$1,550
$1,550
$1.03
$18,600
Total
$422,500
Total Sq Ft
42
Net Sq. Ft. 3
34,500
OPERATING BUDGET Operating Expenses
Value
Percentage of OPEX
Renting Expenses Advertising Other Renting Expense Sub-Total Renting Expenses
$1,000 $754 $1,754
0.21% 0.16% 0.37%
Administrative Expenses Office Payroll Office Supplies Postage And Shipping Costs Computer Charges And Services Office Equipment Lease Management Fees Legal Audit Expense Bookkeeping And Data Processing Services Telephone Usage Misc Administrative Dues & Subs Training And Education Mileage Reimbursement Occupancy, Compliance And File Admin Service Bank Charges Payroll Processing Fees Sub-Total Administrative Expenses
$22,172 $465 $330 $2,223 $334 $10,645 $2,505 $2,197 $1,796 $3,759 $278 $75 $602 $113 $872 $550 $204 $49,118
4.66% 0.10% 0.07% 0.47% 0.07% 2.24% 0.53% 0.46% 0.38% 0.79% 0.06% 0.02% 0.13% 0.02% 0.18% 0.12% 0.04% 10.33%
Utilities Electricity Electricity Um Fee Water Natural Gas Natural Gas Um Fee Sewer Sub-Total Utilities
$33,061 $366 $38,624 $2,669 $252 $16,377 $74,720
6.95% 0.08% 8.12% 0.56% 0.05% 3.44% 15.71%
Utilities Electricity Electricity Um Fee Water Natural Gas Natural Gas Um Fee Sewer Sub-Total Utilities
$33,061 $366 $38,624 $2,669 $252 $16,377 $74,720
6.95% 0.08% 8.12% 0.56% 0.05% 3.44% 15.71%
Operating and Maintenance Expenses Janitorial Supplies Uniforms Safety Equipment Exterminating Trash Grounds Contract Maintenance Payroll Maintenance P/R Overtime Materials Decorating Supplies Repairs Contract Contracts Hvac Repairs & Maintenance Snow Removal Contract-Decorating Turnover Costs-Decorating Vehicle & Maint Eq Repairs Misc Repairs & Maintenance Sub-Total Operating & Maintenance Expenses
$1,185 $754 $377 $7,832 $10,194 $12,798 $46,800 $3,030 $13,909 $2,101 $539 $19,278 $970 $20,943 $2,074 $1,589 $323 $458 $145,153
0.25% 0.16% 0.08% 1.65% 2.14% 2.69% 9.84% 0.64% 2.93% 0.44% 0.11% 4.05% 0.20% 4.40% 0.44% 0.33% 0.07% 0.10% 30.53%
Taxes and Insurance Real Estate Taxes Admin Payroll Taxes Payroll Taxes - Maintenance Property Insurance Other Insurance Workers Comp - Admin Workders Comp - Maintenance Benefits - Admin Benefits - Maint Sub-Total Taxes And Insurance
$42,330 $1,106 $5,518 $21,419 $8,572 $3,186 $2,914 $7,724 $6,043 $98,812
8.90% 0.23% 1.16% 4.50% 1.80% 0.67% 0.61% 1.62% 1.27% 20.78%
Service Expenses Community Life - Full-Time Coordinator Community Life - Events Sub-Total Service Expenses
$75,000 $5,000 $80,000
15.77% 1.05% 16.83%
Replacement Reserve Expenses Replacement Exp Sub-Total Replacement Reserve Expenses
$25,925 $25,925
5.45% 5.45%
Total Operating Expenses
$475,483
100.00%
Operating and Maintenance Expenses Among Supplies the major categories of the operating Janitorial $1,185 budgets are: Renting 0.25% Expenses, Administrative Expenses, Utilities Expenses, Op Uniforms $754 0.16% Expenses, and Replacement Reserve expenses. Under the erating and Maintenance Expenses, Taxes and Insurance, Service Safety Equipment $377 0.08% advisement of the TCB Property Management team, we have maximized the utilization of existing on-site administrative and Exterminating $7,832 1.65% maintenance resources for the new unit. With this in mind, we Trash $10,194 2.14%have minimized the added administrative expenses for Green Grounds Contract $12,798 Oak, added one additional full-time maintenance staff 2.69% (to the existing 3 staff currently on payroll), and added a full-time Maintenance Payroll $46,800 9.84% Community Life Coordinator at a cost of $75,000 (including salary and benefits). This individual, as mentioned previously, will Maintenance P/R Overtime $3,030 0.64% serve to ensure Green Oak’s community spaces (including2.93% existing community center and outdoor areas) are maximized for Materials $13,909 Decorating Supplies $2,101 0.44% together, and potentially bringing in ancillary revenue through the purpose of strengthening the neighborhood, bringing tenants Repairs Contract 0.11% the use of these community spaces. $539 Contracts $19,278 4.05% Hvac Repairs & Maintenance $970 0.20% Snow Removal $20,943 4.40% Contract-Decorating $2,074 0.44% Turnover Costs-Decorating $1,589 0.33% Vehicle & Maint Eq Repairs $323 0.07%
43
PRO FORMA 15-YEAR PRO FORMA Green Oak’s operating pro forma uses a 2% rental growth income rate and a slightly higher 3% operating expense rate, which is based on existing performance for the current Dutch Point units on the property. We have conservatively accounted for 5% vacancy each year despite the existing units’ 1-3% vacancy rates to account for the addition of new market rate units. We have also made an assumption of a 1% credit/collection loss risk.
44
PRO FORMA 15-YEAR PRO FORMA
45
DEVELOPMENT TIMELINE Timeline:
Development Timeline Preconstruction Construction Lease-Up Stabilization 2019
2020
2021
2022
2023
2024
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Site Acquisition Site Acquisition Predevelopment Community Engagement Comprehensive Permit Review Conceptual Design Schematic Design Design Development Construction Documents Permit Set Deliverable Permitting and Zoning Variance Contractor Selection Process Funding Intake Deferred Developer Fee Financing Applications Finance Closing Construction Loan Construction Demolition Site Work Building Construction Landscape Certifcate of Occupancy Lease-up Marketing Stabilization
46
Our construction timeline is 2 years, which we have determined based on market and developer comparables. We plan to capitalize on TCB’s existing community presence in the neighborhood and a long marketing period of 1.5 years to expedite the stabilization period. We are planning for an overall stabilization period of 3-quarters to conservatively account for lease up of market rate units, in addition to the affordable units, which there is existing high demand for in the neighborhood.
5
CONCLUSION: THE WAY FORWARD
MOVING FORWARD Green Oak Commons has been deliberately designed so that TCB can proceed with construction under existing conditions. The proposal is consistent with the local neighborhood organization’s strategic plan, and it seeks to capitalize on local investments that are proceeding independently. The financial model has been structured to take advantage of market conditions and existing subsidy programs. However, to truly maximize the value of the plan, we hope that the Green Oak Commons proposal will inspire the efforts of public agencies and local private institutions to make additional investments in the neighborhood. Specifically, Sheldon Charter Oak could benefit from: • • • • •
Improved bus service Remediation of nuisance/blight properties Improving the infrastructure of Colt Park New pathways to access the riverside Streetscape improvements to enhance bicycle and pedestrian comfort and safety
We are optimistic that our Green Oak Commons proposal can spark a discussion between residents and the community to drive these further public improvements.
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WORKS CITED Carrie Budoff, “Razing Dutch Point: What Then?,” courant.com, February 25, 2002, https://www.courant.com/news/connecticut/hcxpm-2002-02-25-0202251492-story.html. Jenna Carlesso, “Hartford and Lime Are Cutting Ties, so What’s next for Bike Sharing in the City?,” courant.com, February 13, 2019, https://www.courant.com/community/hartford/hc-news-hartford-clb-lime-20190213-ni6uisp4fna77lgo35nljcylua-story.html. Census Data, American Community Survey 2017 (5-Year Estimates); U.S. Census Bureau. Coalition to Strengthen the Sheldon/Charter Oak Neighborhood (CSS/CON), “2007 Strategic Plan,” http://www.cssconinc.org/s/ CSS_CON_Plan_2007.pdf Tom Condon, “Hartford’s Dutch Point A Model Housing Project,” courant.com, February 11, 2007, https://www.courant.com/news/ connecticut/hc-xpm-2007-02-11-0702110107-story.html. “The Legend of the Charter Oak,” Connecticut Historical Society (blog), October 31, 2014, https://chs.org/2014/10/legend-of-thecharter-oak/. Connecticut Housing Finance Authority, “Low-Income Housing Tax Credit Qualified Allocation Plan, 2018 Application Year,” https:// www.chfa.org/assets/1/6/2018_Qualified_Allocation_Plan_FINAL.pdf. Connecticut Housing Finance Authority (CHFA), “Housing Tax Credit Contribution (HTCC) Program Overview,” 2018, https://www. chfa.org/assets/1/6/2019_-_HTCC_Overview_-_Presentation.pdf?7969. Connecticut Housing Finance Authority (CHFA), “Construction Guidelines: Construction Costs,” 2019, https://www.chfa.org/assets/1/6/2019_ConstnGuidelines-ConstnCost.pdf?7993. Connecticut Housing Finance Authority (CHFA), “2019 Multifamily Design, Construction and Sustainability Standards – CHFA,” 2019, https://www.chfa.org/assets/1/6/2019_MFamDesignConstnSustainabilityStnds.pdf?7998 “Colt Factory - Hartford,” CT.gov - Connecticut’s Official State Website, accessed March 29, 2019, http://portal.ct.gov/DECD/Content/Community-Development/05_Sucess_Stories/Colt-Gateway-Redevelopment-Project---Hartford. Kenneth R. Gosselin, “Now The Hard Part: Coltsville Will Be Years In The Making,” courant.com, June 7, 2015, https://www.courant.com/news/connecticut/hc-coltsville-hartford-connecticut-national-park-20150607-story.html. Frankie Graziano, “Hartford’s Dillon Stadium Redevelopment Underway,” accessed March 29, 2019, https://www.wnpr.org/post/ hartfords-dillon-stadium-redevelopment-underway. City of Hartford, “Zoning Regulations,” effective January 19, 2016. https://docs.google.com/document/d/1ld6OW7PO9JGgIYo0yt5YhSpxu4DyM0bI8NU-puOQRFc/edit?usp=sharing. International Code Council, and International Conference of Building Officials. “International Building Code, 2018.” Sean O’Leary, “Dutch Point Condo Project To Draw Homeowners To City,” Hartford Business Journal, September 29, 2008, http:// www.hartfordbusiness.com/article/20080929/PRINTEDITION/309299991/dutch-point-condo-project-to-draw-homeowners-to-city. Robert Wood Johnson Foundation, “County Health Rankings & Roadmaps,” 2019, http://www.countyhealthrankings.org/ Derek Thompson, “What on Earth Is Wrong With Connecticut?,” The Atlantic, July 5, 2017, https://www.theatlantic.com/business/ archive/2017/07/connecticut-tax-inequality-cities/532623/.
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2019 Federal Home Loan Bank of Boston Affordable Housing Development Competition