DATE:
TO: Members of the Housing & Redevelopment Authority
FROM: Janine Atchison, Housing Coordinator
Chris Heineman, Community Development Director
Title
Housing & Redevelopment Authority (HRA) Land at Southbridge
Body
SUMMARY:
HRA Board members have requested to have discussion at each monthly meeting regarding the development of land owned by the HRA in the Southbridge Subdivision.
BACKGROUND:
The HRA owned a 14-acre tract of land in the Southbridge area. In 2012, the HRA formed a partnership with Three Rivers Community Action Agency to develop of 28 units of affordable housing known as Spring Creek Townhomes. In order to make the development financially feasible, the HRA conveyed approximately three acres to the developer for a purchase price of $1.00 in accordance with the Contract for Private Development. This highly successful project has resulted in a waiting list for units since its completion in 2014.
In March of 2017, the HRA Board asked that Three Rivers Community Action Agency consider adding additional dwelling units to Spring Creek Townhomes. The developer agreed to review the potential for expansion of Spring Creek Townhomes in 2017 for a potential MHFA funding application in 2018. HRA Board members expressed their interest in moving forward with a project in 2017. Three Rivers Community Action Agency has other commitments for this year, however, and cannot submit an application until June of 2018.
Community Development staff has continued to work with staff from Three Rivers Community Action Agency to identify the parameters for a future project. Community Development staff is also working with adjacent property owners to determine the possibility of moving forward with a third addition to the Southbridge Subdivision. A preliminary concept plan for development of the adjacent land to the south is anticipated in the next 4-6 weeks. At this time, no additional information is available.