Title
Resolution to Appropriate $1,100,000.00 from the Affordable Housing Millage to Avalon Housing Inc., or an Affiliated Entity for its Project, The Grove at Veridian at 2270 Platt Road, Without Regard to Fiscal Year ($1,100,000) (8 Votes Required)
Memorandum
Avalon Housing, Inc. is seeking a $1,100,000.00 grant from the affordable housing millage to construct fifty (50) affordable apartments and a community center on a 4.7 acre parcel at 2270 Platt Road in Ann Arbor for a project called "The Grove at Veridian". Avalon will also be requesting millage funds to provide supportive services after the project is developed and occupied. Thirty (30) apartments will be set aside for supportive housing.
In December 2016, Thrive Collaborative and Avalon Housing responded to a request for proposals by Washtenaw County to develop the 13.59-acre parcel of County-owned land located at 2270 Platt Road in Ann Arbor. This proposal was selected by the County. Avalon and Thrive Collaborative have each entered into purchase agreements with the County. Each will serve as developer of their respective site. Avalon will develop 50 affordable apartments on its 4.7-acre site. Thrive will develop approximately 100 units of market rate housing on its 8.89-acre site. Avalon and Thrive have worked together toward achieving a cohesive site design and exterior architectural appearance. On October 19, 2020 (ORD 20-28) City Council approved a Planned Unit Development re-zoning for all 13.59 acres and also approved two separate site plans-(R-20-410) for the Avalon site and (R-20-409) for the Thrive site. The separate site plans will ensure the Avalon site can be developed according to its own financing timelines, independent of any Thrive development timeline.
As this is an anticipated tax credit development, Avalon created an affiliated entity to act as the general partner for the legal entity called The Grove at Veridian Limited Dividend Housing Association, Limited Partnership, that...
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