city council presentation 05.14.12 revised
DESCRIPTION
Emerson Square planTRANSCRIPT
EMERSON SQUAREPHASE 1
City of Evanston City Council
May 14th, 2012
• City of Evanston and Brinshore partnered to author the City’s NSP2 application
• City of Evanston/Brinshore were awarded one of 56 grants out of 482 applications received for two activities. • Scattered Site redevelopment of 100 foreclosed or abandoned units
of housing• Mixed-income new construction residential community of a former
brownfield (Emerson Square)
• HUD awarded NSP2 Grant to the City on February 11, 2010 in the amount of $18,150,000 to complete both Emerson Square and the Scattered Site Redevelopment effort
NEIGHBORHOOD STABILIZATION PROGRAM 2 EFFORT
• 89 out of 100 units acquired or under site control
• 34 units completed
• 29 units under construction
• 13 units are in the bidding phase and will commence construction shortly
• As of 03/31/2012, 72% construction subcontracts to M/W/EBE firms and 31% to Section 3 business concerns.
• Twenty (20) Section 3 residents from Evanston have been hired through the program
SCATTERED SITE SUCCESSES TO DATE
• For-Sale Homes
– 80 households have started homebuyer counseling
– 480 households have registered for the for-sale program
– 5 homebuyers have moved into their homes, have contracts or are under exclusive negotiation to purchase a home
– 1 property received an offer and is under review
– 6 properties listed on the MLS
• Rental Homes
– 12 households have moved into fully renovated, energy efficient rental housing or have pending applications
SCATTERED SITE SUCCESSES TO DATE
EMERSON SQUARE PHASE 1 EXISTING SITE AERIAL PHOTOGRAPH
FOSTER ST
EMERSON STDE
WE
Y AV
E
JAC
KS
ON
AV
EAS
HLA
ND
AV
E
EMERSON SQUARE PHASE 1 EXISTING SITE PHOTOGRAPH LOOKING SOUTH
EMERSON SQUARE PHASE 1 OVERVIEW
• Project will include acquisition, abatement and demolition, environmental remediation of contamination, new public street, public sidewalks, underground public utilities, new public park, community garden, leasing office and 32 residential units
• City contribution of $3.085 million has leveraged an additional $12 million of competitively awarded sources arranged by Developer including:− First Mortgage from IFF− Federal Home Loan Bank of Chicago AHP Funds− Federal Low Income Housing Tax Credit Equity − State of Illinois Donation Tax Credit Equity
• Timeline− Acquisition - June 2012 − Demolition and Remediation – June – August 2012− Construction Closing – August 2012− Construction Completion September 2013
EMERSON SQUARE PHASE 1 OVERVIEW
• 2.34 acre site• 32 units• Contextual design • Mixed Income (30% AMI to
unrestricted)• 1, 2 and 3 bedroom units• Apartment sizes ranging from
712-1477 sf• Amenities
Leasing office on site New public park Community garden Energy Star rated
appliances Bike storage
Enterprise Green Communities certified
Conference room Dishwashers In-unit washer and dryers Landscaping New public street
PROJECTED UNIT MIX AND RENTS
# of # of # of Size EstimatedUnits BRs BTHs (Sq Ft) Rent
4 1 1.0 712 $287 – 830 18 2 1.0 1,098 $339 – 101810 3 2.0 1,477 $372 - 908
• Community Participation in Planning and Implementation
• Goal of 25% M/W/EBE and 10% Section 3 Business Concerns subcontracting
• Brinshore is committed to exceeding all hiring goals with Emerson Square
• Exploring opportunities to incorporate deconstruction
• Community Participation in Planning and Implementation
• Goal of 25% M/W/EBE and 10% Section 3 Business Concerns subcontracting
• Brinshore is committed to exceeding all hiring goals with Emerson Square
• Exploring opportunities to incorporate deconstruction
COMMUNITY PARTICIPATION & SHARING ECONOMIC BENEFITS
• On-site professional management by Leasing & Management Company, Inc.
• Leasing office on Foster Street with conference room
• Property Manager will also manage other LiveEvanston Rentals units with centralized property management office at Emerson Square.
• On-site professional management by Leasing & Management Company, Inc.
• Leasing office on Foster Street with conference room
• Property Manager will also manage other LiveEvanston Rentals units with centralized property management office at Emerson Square.
PROFESSIONAL ON-SITE PROPERTY MANAGEMENT
EMERSON SQUARE PHASE 1 RENDERING
TOWNHOUSES - DESIGN
6 FLATS - DESIGN
GREEN SPACES
PARK
COMMUNITY GARDENNEW STREET, SIDEWALK,
LANDSCAPING & STREET TREES
QUESTIONS