Community Housing Network (CHN) will invest $15.8 million to develop 60 new units of affordable housing in an adaptive reuse of the vacant Thomas Jefferson School and site in Oak Park, its largest development to date.
The nonprofit secured the tax credit reservation from Michigan State Housing Development Authority (MSHDA) for the development, which will include 20 one and two-bedroom apartments and community space in the school.
The development will also include an additional 40 three- and four-bedroom townhome-style units. Twenty one of the units will be set aside for supportive housing with project-based rental assistance. Jefferson Oaks will be a mixed-income development with rents guaranteed to be affordable for 15 years. The total development cost is $15.8 million and will be our largest development to date.
Construction on Jefferson Oaks is expected to begin in summer 2016, with completion and full lease-up anticipated by the end of 2017.
An additional 40 three- and four-bedroom townhome-style units will be constructed on the remainder of the 6.8-acre school site. A total of 21 of the units will be set aside for supportive housing with project-based rental assistance. Jefferson Oaks will be a mixed-income development with rents guaranteed to be affordable for 15 years.
“Jefferson Oaks will provide workforce housing for the people who are the foundation of the current economic growth in Oak Park,” says Kirsten Elliott, CHN’s vice president of Development.
Groundbreaking is expected to be in the summer of 2016 with occupancy completed by the end of 2017. “We are excited to partner with the City of Oak Park to develop quality, affordable housing for people who want to live, work and play in the city,” Elliott said. “There are so many great things happening in Oak Park and we are honored to be part this progress.”
Community Housing Network is a nonprofit organization committed to providing homes for people in need through proven strategies of homelessness prevention, housing assistance and development, community education and referral, advocacy and additional services. The organization carries out its work in Oakland, Macomb and Wayne counties. For the past four years it was recognized by the Detroit Free Press as a Top 100 Workplace and in 2012 and 2014 it was honored as a Crain’s Cool Place to Work.
Our thanks to Jarrett Sanders, Community Revitalization and Development Coordinator at Community Housing Network, Inc. for submitting this information to REVITALIZATION.