achieving “green” in affordable housing · 2013-06-25 · fhfc is incorporating sustainable...
TRANSCRIPT
A Garden Blooms in SarasotaAchieving “Green” in Affordable Housing
Presented by Milton R. Pratt Jr.Senior Vice President,
Michaels Development Co.
Revitalizing Newtown
Like much of the nation’s older public housing stock, Sarasota’s three public housing sites, Janie Poe, Bertha Mitchell, and Orange Ave./the Courts , were obsolete and structural deficient.
The historic neighborhood of Newtown, once a thriving hub of business and activity, was being dragged down by the outdated public housing and high concentrations of poverty.
A New Beginning
In 2006, the Sarasota Housing Authority selected the Michaels Development company as its partner/master developer on an ambitious plan to revitalization Newtown
When all three phases are complete, the new community will offer affordable rental, public housing, and market-rate apartments.
Financial Structure –Janie’s Garden Phase I
Investor Equity from sale of 9% LIHTC: $10,970,300
SHA Loan (from City/County funds): $1,869,500
1st Mortgage Permanent Loan $1,900,000
FHFC ELI Loan: $765,000
FHLB of Chicago AHP Loan: $325,000
SHA Reinvested Developer Fees: $408,300
Total Development Costs: $16,238,100
Designed for living and walking
FHFC is incorporating sustainable design into QAPs, and green features are becoming critical to winning LIHTCs
For the Janie Poe revitalization, the Sarasota Housing Authority emphasized that the new community and its amenities should include green building features.
Janie’s Garden is Sarasota’s first transit-oriented development
Rapid bus station on site
Minimal parking to encourage walking and use public transit
Phase 2 includes significant neighborhood retail and commercial space
MICHAELS AND OUR ARCHITECTS, TORTI GALLAS, SELECTED MICHAEL CARLSON, A SARASOTA-BASED EXPERT ON GREEN
BUILDING TECHNOLOGY, TO SERVE AS OUR EXPERT AND GUIDE US THROUGH THE LEED CERTIFICATION PROCESS.
Green Expertise
Janie’s Garden Phase 1 includes a LEED-certified community center featuring a fitness room, activity room, and computer center.
Getting to LEED Certification
Paperwork
Initial upfront costs
Commitment to the Process
The design incorporates extensive green space and native landscaping
Worked with a city arborist to save as many old growth trees as possible
On site storm water retention pond
Green Features at Janie’s Garden
High efficiency HVAC, 15.5 seerSolar hot water productionUse of reclaimed (gray) water for toilet flushing & irrigationZero potable water used for wastewaterInsulated, impact resistant glassWindows on the north facade offer natural day lightingOver 90% of the occupied spaces have views to the outsideOccupied spaces also have daylight due to large windows in each roomR-20 spray foam walls insulation, 30% higher than codeR-30 spray foam roof insulation, 30% higher than code
Green inside and out
Occupancy sensors automatically turn on and off lights in most spacesLow VOC materials and adhesivesOver 10% of the materials made from recycled contentStaff can bike to work knowing there are bike racks and showers available to them onsiteClose location to public transit allows staff to ride the bus to workHigh solar reflective roof lowers heat gain and reduces the “urban heat island effect”Landscape is drought tolerant, which lowers the demand on municipal water
Water Savings & Energy Efficiency are Critical
Plumbing fixtures are low flow+50% water savings over traditional construction+18% energy efficient over standard buildingDeep overhangs shade the east and west facadeOverhangs were also added to shade the south facing windows
The Bottom Line
Green building features offer long-term operational savings for the owner as well as individual residents, through reduced utility costs.
Green building offers a market rate opportunity, appealing to both lower-income and market-rate households
MICHAELS BENEFITS FROM BEING AN INDUSTRY LEADER IN GREEN BUILDING AND MIXED-FINANCE COMMUNITIES
“Michaels Development has realized our vision of transforming notorious public housing into a desirable community serving residents of all incomes.”
-William Russell, executive director, Sarasota Housing Authority
Industry Leadership
WHAT’S NEXT?
Green Building in Florida
MILTON R. PRATT JRTHE MICHAELS DEVELOPMENT COMPANY
WWW.THEMICHAELSORG.COM
Questions?