Cornerstone
Project Description
Scripps Park Associates, LLC (“SPA”), a development team comprised of Herbert J. Strather of Detroit, MI, the Slavik Company of Bingham Farms, MI, the Rosenberg Housing Group, Inc. of New York City and Washington, D.C., and Premier Property Management of Detroit. This team has been assembled to redevelop Cornerstone Estates (formerly Jeffries East) in Detroit as an “off-site” component of Woodbridge Estates (‘WBE”). These units will be constructed under the HUD sponsored HOPE VI Revitalization Program, administered by the Detroit Housing Commission (“DHC”).
Members of the development team have substantial experience with government-sponsored housing activities in Detroit and around the country.
Overall Development
The Cornerstone Estates development site is located on the east side of the John C. Lodge Freeway, just south of Martin Luther King, Jr. Boulevard in the Cass Park District. The former Jeffries East public housing project that was on the site has been completely demolished.
The site will be redeveloped by SPA with low-rise, new construction affordable units and landscaped open space. Cornerstone Estates will be a 180-unit mixed-income affordable housing rental development. This will be a substantial reduction in density from the approximately 260-plus units formerly on the property. The new site configuration is designed to fit seamlessly into the fabric of the surrounding neighborhoods to the east and north of the site. The redeveloped site will include all new infrastructure and is planned to flow generally from north to south.
SPA is excited at the prospect of transforming this major tract in the heart of Detroit. The development should contribute substantially to revitalizing the entire neighborhood and city.
SPA hopes the City of Detroit will participate in this development effort by funding portions of the infrastructure of the Project.
The Subject Property: Cornerstone Estates formerly the Jeffries East housing project
Location (Midtown)
Martin Luther King Avenue (north)
J. C. Lodge Freeway (west)
Temple Street (south)
Fourth Street (east)
Type of Project
The multi-phase (I, II, and III) project will total 180 rental units of which 138 of the units will be tax credit-eligible and public housing (ACC)-assisted, and 42 of the units will be tax credit eligible and non-ACC assisted. Cornerstone Estates will be all low-rise new construction project with approximately 60 buildings, consisting of duplexes and townhomes. In addition, the development site will include a community and leasing building.
Developer
Scripps Park Associates (“SPA”)
Total Units
As stated, the programmatic types – public housing-assisted tax credit and unassisted tax credit – will be scattered throughout the site and the units will not be differentiable. The units for the project are currently assumed to be contained within the stated structural types as follows:
Rowhouses Duplexes Other Total
1 Bedrooms 4 0 0 4
2 Bedrooms 42 24 24 90
3 Bedrooms 27 20 20 67
4 Bedrooms 11 4 4 19
Total 84 48 48 180
The units will be limited to households earning not more than 60% of Area Median Income (“AMI”), or $42,600 for a family of four in Wayne County. Public housing-assisted units are expected to rent to households making far less than the 60 % stated maximum, and indeed less than the 30% maximum mandated by DHC. Unassisted units are expected to rent mainly to households earning between 30-60% of AMI.
Residents displaced from the former Jeffries East project will be permitted to return to the new rental development; but the households must be in good standing with DHC, and must demonstrate good faith efforts to achieve self-sufficiency, specifically employment or enrollment in educational programs. DHC does not expect a large number of households to seek to return.
Summary Timeline
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Infrastructure Start
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September 2009
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Phase I, II, III Rental Closing
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December 2009
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Rental Construction Start
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March 2010
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First Unit Available
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November 2010
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Construction End (Last Phase)
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July 2011
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Lease Up End
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October 2011
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