2006_0320_Packet_Study - Laserfiche WebLink

Home

Central � Community Housing Trust March 21, 2003 Proiect Concept Summarv: Har Mar �partt��ei�ts is an esisting 120-unit apartment coinanunitv built in 1968 in Roseville. ir is t��::��.�::�� ='* located just southwest of the i1�t�rsecrio�� of Snelling anc� I--�ighway 36 in Ros�ville, near the Rosedale shopping cenr.er, Super Target, Hal- Mar shopping ��aLl, atZC� a host of other coi�n�ercit�L ret��i1 services. Cet�d:�l Community Housing Trust (CCH'I� wo�:l�ed with the City of Rosevi]le staff to identify an existing multtf2inily a�art�nent building that was struggling in tl�e ��.tl�e1� place and was :i � need of �:einvestment. Currently, ;: �ti; property is almost half vacant and is in need of moderate to substantial ieha�ilitat�oii, as well as a new iraaiket�i�g and ivanageinei�t strategy. Tl�cse almost 40-year old stt�ctu�es arc 2'/z story walk-up apartments typical of that era. Many times when these older buildings are stressed with vacancy, social issues and years of deferred i7iaiiatc��t�cc, tl�e typical l��ee-jerl� solution is to tear down II�ti �uildings and start over. CCHT believes a better ai3d r.^•rt cost eEfective resolution is to preserve the buildings—keeping vah�able building ��terials out of the landfill, update and rella�ilttate ti�ci��, and �reserve these community iesoLirccs that ��ve been serving the community for decades. `l`here are 5 buildings �uit�� 21 to 26 one-bedroom tiiilits per building. Roseville 1�as an overabui�da�zcc of one-bedroom apartments, creating significant competition in tl�e market. Feasibility and tnarl�etin� evaluation shows t11at c�izrersifyin� t11e unit types is important to improve �.:ti vitality ai�d marketability of lhe property. CCHT will �nodcEy -:•,ti� unit configurations to appropriately incorporate ,��;m�: hvo-bedroom units. I��Iodi%Ting ;',c• unit layouCs will result in a sirsallcr nuinUer of act�ial u��its in the existing apartment buildings. '•�'t• anticipate approximately 100 �ehal�ilita�ed apartment ur�its �:. I i_• complete, of �l�esc, about 70 �,v�L remain as one-bedroom apartments and about 3b will he coiiverted to two-bedroom apartments. Retaining the existing layouts of the majority as one-bedroom units wiil he1�3 keep rehabilitation costs lo�ver._ CCHT will also inalie considerable i;��;ti;•;,•-t n•,t ,.� � to tj;;- building extcriors, add landscaping, recreation areas, and significantly i��rove ehe curb appeal to convey current apartment coi��ui�itv wends. The 5.4 acte site allows for the construction of approximately 50 additional 1�artn�ent units. S��ce there are so n�anY one-bedroom apartments in � I iti existing building, the �e�u buildin� will feature t�uo and three-bedroom apartments. 1'he new �tiiildu�g titi;' provide under�ound parking to �llcviate surface paiking� nceds on the site. They �s•i:= be built in a traditional sryle •.::;�: will incox�orate front porches and other Eeat�ires that will encourage coi�rntuzitY t•i:t�t:_•�7�c•,�I and defensible spacc principles. Following the spring 2006 acquisition, the property will be financed and de�rcla��ec� in twa �l��ses, beginning �vid� •.1 �t• relzabi.l�t�tio�1 of the elistii�g units, followed by the new cons�iuction. A variety of unit sizes, st�lcs and price ranges �vill accommodate variaus Iifest�rles of Roseville residents. Economic i��te�rltion of workforce housing and market rate apartments �vil1 help Fulfill l�ousi�� needs for the multi�ide of Kase�rille's sei�ricc sector en��loyces and those who can afford market iatc rents. �