Professional Documents
Culture Documents
Grants Creek Crossing Apartments
Grants Creek Crossing Apartments
Project Description
Project Name: Grants Creek Crossing Apartments
Address: 1229 Statesville Boulevard
Will the project meet Energy Star standards as defined in Appendix B? Yes
Will the project include a Community Service Facility under IRS Revenue Ruling 2003-77?
No
If yes, please describe:
Target Population:Family
Will the project be receiving project based federal rental assistance? No
Applicant Information
Indicate below an individual or a validly existing entity (a corporation, nonprofit, limited partnership or LLC) as the official applicant. Under
QAP Section III(C)(5) only this individual or entity will be able to make decisions with regard to this application. If awarded the applicant
must become part of the ownership entity. The applicant will execute the signature page for this application.
Applicant Name: Crosland, LLC
Address: 227 West Trade Street, Suite 800
Telephone: (704)561-5235
Fax: (704)525-3562
Site Description
Identify utilities and services currently available (and with adequate capacity) for this site:
Is the site directly accessed by an existing, paved, publicly maintained road? Yes
If no, please explain:
Is any portion of the site located inside the 100 year floodplain? Yes
If yes:
(a) Describe placement of project buildings in relation to this area:
There is a floodplain around the small creek that runs across the back corner of the site. All buildings and
amenities have been placed outside the floodplian. The area will serve as open green space.
(b) Describe flood mitigation if the project will have improvements within the 100 year floodplain:
N/A
Site Control
Does the owner have fee simple ownership of the property (site/buildings)?No
If yes provide:
If no:
(a) Does the owner/principal or ownership entity have valid option/contract to purchase the property?Yes
(b) Does an identity of interest (direct or indirect) exist between the owner/principal or ownership entity with the option/contract for
purchase of the property and the seller of the property?No
If yes, specify the relationship:
(c) Enter the current expiration date of the option/contract to purchase: 06/30/2010
Zoning
Present zoning classification of the site:RMX
Are variances, special or conditional use permits or any other item requiring a public hearing needed to develop this proposal?Yes
If yes, have the hearings been completed and permits been obtained?No
If yes, specify permit or variance required and date obtained. If no, describe permits/variances required and schedule for
obtaining them:
There is a conditional use limitation on the site that must be released. We understand that the request must
go before the zoning board and that the approval process is approximately 30 days. We anticipate success
in this process.
Are there any existing conditions of historical significance located on the project site that will require State Historic Preservation office
review?No
If yes, describe below:
Are there any existing conditions of environmental significance located on the project site?No
If yes, describe below:
Ownership Entity
Unit Mix
The Median Income for Rowan county is $55,000.
Statistics
Market Rate.......
Project Includes:
Separate community building - Sq. Ft. (Floor Area): 1,500
Indicate below any additional targeting for special populations proposed for this project:
Mobility impaired handicapped: 5% of units comply with QAP Section IV(F)(3) (in addition to the units required by other federal and
state codes.)
Number of Units: 6
Number of Units: 11
Notes
** Please refer to the Income Limits and Maximum Housing Expense Table to ensure that Total Monthly Tenant Expenses for low
income units are within established thresholds.
Targeting
Specify Low Income Unit Targeting in table below. List each applicable targeting combination in a separate row below. Click [Add] to
create another row. Click "X" (at the left of each row) to delete a row. Add as many rows as needed.
# BRs Units %
Note: This number should match the total number of low income units in the Unit Mix section.
Funding Sources
Amort. Annual
Non- Rate Term Period Debt
Source Amount Amortizing* (%) (Years) (Years) Service
Bank Loan
RD 515 Loan
AHP Loan
Non-Repayable Grant
Owner Investment
Other - Specify:
* "Non-amortizing" indicates that the loan does not have a fixed annual debt service. For these items, you must fill in 20-year debt
service below.
** Total Sources must equal total replacement cost in Project Development Cost (PDC) section.
The project is requesting RPP loan funds. We will fill the remaing gap with market rate debt if no
additonal subsidized source of funds is available.
Development Costs
Eligible Basis
Item Cost Element TOTAL COST
30% PV 70% PV
1 Purchase of Building(s) (Rehab / Adaptive Reuse only) 0
4 Rehabilitation 0 0
6 Accessory Building(s) 0 0
24 Bond Costs 0
26 Placement Fee 0
33 Tax Credit Allocation Fee (0.62% of line 60, minimum $7,500) 82,800
36 Organizational (Partnership) 0
39 Relocation Expense 0 0
42 Other Basis Expense (specify) MWBE Study, City Plan Review Fee 8,000 8,000
Comments:
We believe that such affordable units will be in high demand. The community is located in Salisbury near
the center of the town. Many amenities are nearby. Employment options include the medical and other
offices on Statesville Blvd, Food Lion headquarters, mall stores and other retail shops, and government/
town positions. The retail options are broad including nearby grocery, pharmacy, and retail stores. Public
transportation is available on this major thoroughfare just a few blocks from the site and would likely be
easy to extend to the site.
Affordable units of this quality and in this location will be in high demand.
Other:
The project is designed with significant use of brick for the long term durability of the buildings. Also, the
project will be built to Energy Star standards by Crosland Contracting, which has strict quality control
standards
Have you built other tax credit developments that use the same building design as this project?Yes
If yes, please provide name and address:
The designs used for Grants Creek Crossing have been adapted from another Crosland development
designed by the same architect. Similar garden style apartments are found at Dobbins Hill II (1749-1B
Dobbins Drive, Chapel Hill, NC). Grants Creek Crossing’s designs have been enhanced to distinguish from
Dobbins Hill II by changing some of the architectural design elements, the siding material, color and design,
and increasing the use of masonry product.
Site Amenities:
Site amenities include: playground, resident computer center, covered picnic area, three outdoor sitting
areas, gazebo, covered patio with seating, coin-operated laundry and resident use multi-purpose room.
Onsite Activities:
Onsite activities at Grants Creek Crossing will be coordinated by residents and the property management
staff of the community and may be supported by various community organizations. Activities will be held in
the clubhouse’s general assembly space or computer center, outdoor picnic area, playground or other
community green space.
Landscaping Plans:
The landscaping budget for Grants Creek Crossing is substantially above what is required. Plans include an
emphasis on planting trees and/or protecting existing trees so that the community will benefit from
substantial shade over the coming years. Landscaping plans also focus on highlighting key areas of the site
such as the entrance and common green spaces. Landscaping plans exceed all landscaping requirements
as designated by the NCHFA.
Do you plan to submit additional market data (market study, etc.) that you want considered? No
If yes, please make sure to include the additional information in your pre-application packet.
NEIGHBORHOOD CHARACTERISTICS
Trend and direction of real estate development and area economic health. Physical condition of buildings and
improvements in the immediate vicinity. Concentration of affordable housing.
Salisbury is a city located between Charlotte and the Triad region of NC. Its history back to the Civil War era
is evident locally. It has progressively moved forward as it has grown. The town’s 2020 vision plan focuses
on smart growth, connectedness and accessibility as key elements.
Salisbury is a regional rail stop along travel to mid-Atlantic cities, Birmingham and New Orleans. The
Amtrak station is located just 2.75 miles from the Grants Creek Crossing site. Major employers in Salisbury
include the US headquarters of Food Lion, the US subsidiary of Delhaize, and many smaller businesses
including services, textile mills and other manufacturing businesses.
Our site is very near the center of Salisbury so it takes advantage of the culture of the town and its many
nearby amenities. Statesville Blvd. is a major thoroughfare that services commercial, retail and residential
traffic. Public transportation is available in the immediate vicinity of the site and this would ease resident
access to a number of key destinations. The major mall for the area is Salisbury Mall and is located less
than one mile from the site. Hospitals are also very near the site, including Rowan Regional Medical Center
which is 1.7 from the site and the Hefner VA Medical Center which is 1 mile from the site. Education options
are nearby including public schools for children and colleges like Catawba College and Livingstone College,
both of which are about 2 miles from the site.
The immediate surroundings to the site are varied including office parks, churches and single family
residential. The Grants Creek Crossing community will fit well with surrounding uses and benefit from many
options and opportunities provided within the town.
SURROUNDING LAND USES AND AMENITIES
Land use pattern is residential in character (single and multifamily housing). Extent that the location is
isolated. Effect of industrial, large-scale institutional or other incompatible uses, including but not limited to:
wastewater treatment facilities, high traffic corridors, junkyards, prisons, landfills, large swamps, distribution
facilities, frequently used railroad tracks, power transmission lines and towers, factories or similar operations,
sources of excessive noise, and sites with environmental concerns (such as odors or pollution). Amount and
character of vacant, undeveloped land. The present land use pattern nearby is mixed—offices, residential,
and a church, all immediate neighbors to the site. The area is well developed part of the town, and the site
connects well to the surrounding community and all the amenities that the neighborhood offers.
SITE SUITABILITY
Adequate traffic safety controls (i.e. stop lights, speed limits, turn lanes). Burden on public facilities
(particularly roads). Access to mass transit (if applicable). Visibility of buildings and/or location of project sign
(s) in relation to traffic corridors. The site is located on a major thoroughfare that has been designed to
accommodate density and traffic generated by both residential and commercial activity. As such, Grants
Creek Crossing will not unduly burden this thoroughfare. The site is connected to the required public facilities
and there is immediate access to public transportation. The community’s buildings and site signage will be
visible from Statesville Blvd. We expect this visibility to help drive demand for the project.
Degree of on-site negative features and physical barriers that will impede project construction or adversely
affect future tenants; for example: power transmission lines and towers, flood hazards, steep slopes, large
boulders, ravines, year-round streams, wetlands, and other similar features (for adaptive re-use projects-
suitability for residential use and difficulties posed by the building(s), such as limited parking, environmental
problems or the need for excessive demolition).
There are no on-site negative features that will impede construction. The site has area in the back of the
site that has been designated in the floodplain. It surrounds a small creek the crosses the back corner of the
site. No buildings or amenities will be constructed in this area so it will not impede construction. The area
will serve as additional open green space for the community.
For each applicable neighborhood feature, enter distance from project in miles.
.3 Public Transportation
1.5 Schools
Stop
The immediate surroundings to the site are varied including office parks, churches and single family
residential. The Grants Creek Crossing community will fit well with surrounding uses and benefit from many
options and opportunities provided within the town.
The following enclosures must be submitted along with your signed preliminary application. Some enclosures are required only under
certain conditions. Please check each applicable item to indicate that you understand the enclosure requirements and will enclose the
correct supporting documentation with your application.
Fee Payment
Check in the amount of $5,450.00 made payable to North Carolina Housing Finance Agency.
Tab A - Preliminary Application
Printed, signed copy of preliminary application generated from online system.
B - Map/Driving Instructions
A local map clearly identifying the location of the Site and detailed directions to the Site. Current City or County maps are preferred
– internet maps and directions are not acceptable. Applicant must also provide a map identifying the amenities listed in section IV
(A)(1)(b)(ii) of the QAP and their proximity to the site.
Applicant must provide a sign and boundary markers to clearly identify the road frontage of the site. The sign identifying the site
should read “SITE” with a minimum size of 11x17.
C - Community Revitalization Plan
Applicant should provide a map identifying the subject site within the Plan area (if applicable).
D - Evidence of Site Control
Provide valid option/contract or warranty deed and plot plan.
E - Site Plans/Scope of Work
Preliminary site plan, floor plans and elevations for all projects, interior and exterior photographs and detailed scope of work for
Adaptive Reuse and Rehab projects. Site and floor plans should be no larger than 11x17 and must be produced by a licensed
architect or engineer.
F - Information Package for Market Analysts
This section must include copies of items required in Tabs A, B, E and G (site and floor plans should be no larger than 11x17) and
can include any additional market information such as preliminary market studies the applicant would like to provide to the
Analysts.
G - Rent Roll (Rehabs only)
Provide the current rent roll for the property and indicate which units (if any) are receiving rental assistance.
H - Documentation for Basis Boost
Applicant should provide an appraisal and/or standard geological survey to support a request for the basis boost (if applicable).