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File #: 19-2023    Version: 1 Name: 11/18/19 Affordable Housing Financial Feasibility City Property
Type: Introduction Status: Filed
File created: 11/18/2019 In control: City Council
On agenda: 11/18/2019 Final action: 11/18/2019
Enactment date: Enactment #:
Title: Analysis of the Financial Feasibility of Developing Under-Utilized City-Owned Properties as Affordable Housing
Attachments: 1. Financial Analysis of Affordable Housing on City Owned Property FINAL.pdf, 2. Analysis City-Owned Properties FINAL.pdf
Related files: 20-0501, 20-0500, 19-2125, 19-2126, 19-2127, 19-2130, 19-2128, 19-2129

Title

Analysis of the Financial Feasibility of Developing Under-Utilized City-Owned Properties as Affordable Housing

Memorandum

On April 1, 2019, City Council adopted Resolution R-19-138 directing the City Administrator to collaborate with the Ann Arbor Housing Commission (AAHC) to provide coordinated analysis on the feasibility of City-Owned properties as potential locations for affordable housing. This resolution incorporated previous resolutions R-19-100, R-19-111, and R-19-116.

 

The properties included in the analysis are:

 

1)                     721 N Main (vacant public services buildings)

2)                     2000 S. Industrial (public services buildings, AAHC office & maintenance, and additional City, County and AAATA storage facilities)

3)                     1501 E. Stadium (fire station #2 currently used for fire inspection services)

4)                     Surface parking lot at 309 - 337 S Ashley & 104 -120  W. William (also known as the Kline’s lot)

5)                     Surface parking lot at 216 W. William (northeast corner of 1st & William)

6)                     Surface parking lot at 121 Catherine (northwest corner of 4th & Catherine)

7)                     404 - 406 N Ashley (UM Dental Clinic rents this building from the City)

8)                     3432 - 3440 Platt & 3435 - 3443 Springbrook (vacant land purchased by AAHC)

9)                     415 W. Washington (vacant public services building)

10)                     Surface parking lot at 350 S Fifth Ave (also known as the former Y lot)

11)                     1320 Baldwin Ave (City Senior Center managed by City Parks Dept)

 

On July 1, 2019 City Council enacted Resolution R-19-320 to contract with the SmithGroup to conduct a public engagement process, develop potential building concepts and evaluate the feasibility of the property at 350 S Fifth. The Staff Study Team are engaged in this process that is occurring simultaneously.

 

On August 19, 2019 City Council enacted Resolution R-19-376 to contract with the SmithGroup to conduct a public engagement process, develop potential building concepts and evaluate the feasibility of the property at 415 W Washington. The Staff Study Team are engaged in this process that is occurring simultaneously.

 

After the resolutions were passed, staff were asked by Councilmember Bannister to add 1320 Baldwin Ave (Senior Center) to the list, which was added.

 

The attached financial feasibility analysis includes properties 1-8 and 11. The analysis of property 9 & 10 will be added once completed by The SmithGroup.

.Staff

Prepared by:                     Jennifer Hall, Executive Director, Ann Arbor Housing Commission

Reviewed by:                     Derek Delacourt, Community Services Area Administrator

Approved by:                     Howard S. Lazarus, City Administrator