More than 500 people have applied to live at Hamilton Crossing, where redevelopment work is expected to be complete by spring. Tenants will occupy 74 of the apartments by next month.
Joseph Tobianski | AnnArbor.com
Ypsilanti Housing Commission Interim Executive Director Eric Temple said the volume of applicants for the project is "significant." Temple said the project will be completed by April 2013 and all units will be occupied at that time.
The property, formerly know as Parkview Apartments, will be a mix of market-rate and subsidized housing units. While the YHC owns Hamilton Crossing, a private company, Millennia Housing Management, manages the property. According to Millennia's Web site, the market rates are as follows:
- A 609-square-foot, one bedroom, one bath apartment costs $653 a month.
- A 780-square-foot, two bedroom, one bath townhouse costs $798 a month.
- A 953-square-foot, three bedroom, one and a half bath townhouse costs $1,017 a month.
There are 68 project-based vouchers available for Hamilton Crossing that will be assigned to low-income families that will lower their rent cost. The YHC's Section 8 voucher program has been transferred to the Michigan State Housing Development Authority due to financial issues within the commission.
The YHC said the transfer will have no impact on the 68 available vouchers or the other vouchers previously managed by the commission. Including the 68 from Hamilton Crossing, the YHC managed 339 Section 8 vouchers.
A 2011 report on the Washtenaw County Office of Community and Economic Development's website shows that 6,062 subsidized housing units are available across the county.
Temple said families will be moved in during two phases, with the first 74 units being occupied by Nov. 1 of this year. The remaining 70 will become available over the next eight months. Applicants that didn't receive a spot will be placed on a waiting list.
The buildings underwent extensive renovations and have all new drywall, doors, windows, roofs and kitchens. Temple said decks and patios were added, as well as front porches.
"The site provides several play areas for kids and the community building also offers a computer lab," Temple said. "Many green features were included in the renovation including increased insulation, and Energy Star appliances."
The revitalization project has been in the works for a number of years. The Ypsilanti City Council approved the purchase of the Hamilton Street complex by the YHC in 2010.
The sale to the housing commission from the U.S. Department of Housing and Urban Development was part of a settlement approved in May 2010 by U.S. District Judge Victoria Roberts between the Parkview Tenants Association and HUD.
The project’s developer, Chesapeake Community Advisors, along with the YHC, worked to secure grants and private investment to fund the project.
AnnArbor.com previously reported that Chesapeake received $5.7 million in an immediate HUD Up-Front grant that was to be split between the project’s two phases.
The Washtenaw County Office of Community Development contributed an additional $500,000 in grants to be spread out over the two phases.
The project’s second phase received additional funding in the form of $988,000 in federal tax credits made available through the Michigan State Housing Development Authority. Key Bank also loaned $4.2 million for construction, and phase one of the project utilized a $3.5 million Federal Housing Authority loan.
Ypsilanti Mayor Paul Schreiber said Hamilton Crossing is improving the surrounding neighborhood.
"The fact that there are 500 people is an indication of how desirable it is," Schreiber said. "I think it's a success on all fronts and I am very happy to be a small part of that. The biggest part of the success is how many different groups were involved in making this happen. It's a big success story."
Katrease Stafford covers Ypsilanti for AnnArbor.com.Reach her at katreasestafford@annarbor.com or 734-623-2548 and follow her on twitter.