Title
Resolution to Transfer Ownership of 121 E. Catherine to the Ann Arbor Housing Development Corporation ($1.00) (8 Votes Required)
Memorandum
The Ann Arbor Housing Commission (AAHC) is requesting City Council approval to transfer ownership of 121 E Catherine to the Ann Arbor Housing Development Corporation (AAHDC), a 501(c)(3) nonprofit corporation created by the AAHC, for $1.00.
In 2019, City Council approved a resolution (R-19-514), directing the AAHC to develop 121 E. Catherine as affordable housing. The AAHC conducted several years of community engagement with SmithGroup and YMJ & Associates; issued a Request for Proposal for a co-developer and selected Avalon Housing; hired Landon, Bone, Baker architects; Macon engineering; O'Neal construction as the general contractor; Elevate as the green design consultant and DMC Real Estate Services as a development consultant. The AAHC has conducted site due diligence including a survey, title search, geo-tech, market survey and environmental testing. A site plan has been submitted to City Panning Services and will be submitted to the Planning Commission after the staff review is completed.
The project includes a ~64,000 square foot L-shaped, 6-story mixed-use building that includes approximately 62 1-bedroom apartments and 1 2-bedroom apartment with tenant community space, staff offices, and shared laundry. All the residential units will be affordable to households with incomes at or below 60% of Area Median Income (AMI). Half of the apartments (32) will be targeted as supportive housing for households with incomes at or below 50% AMI. Avalon Housing will be the on-site service provider and will collaborate with other community services providers. The remaining apartments will include a preference for low-income people who are involved in artistic or literary activities, which is specifically allowed as a preference under the Low-Income Housing Tax Credit Program. ArtSpace, a national organization that develop...
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