Groundbreaking took place in December. Anticipated completion date for the rehabilitation is September 2022 and new construction is January 2023.
Beacon is proud to announce funding for 25 units of emergency and transitional housing for survivors of domestic violence and their children who are coming out of homelessness or are at risk for homelessness. The project includes rehabilitation of residential housing and new construction of a building to provide services. The site is located close to transit, parks, medical services, and other amenities. Funding awards includes $4.3M Housing Finance Program loan and a $2M award from the State Housing Trust Fund. The project team include Environmental Works and Buchanan General Contracting and the client has a stated priority for Minority Business Representation on the project.
Photo by Edison Creative Group (Valleyford, WA)
On the 246th birthday of the US Marine Corps, Beacon joined more than 100 veterans and elected officials to celebrate the opening of Yakima Housing Authority’s (YHA) Chuck Austin Place. The project is located on the former Yakima Armory which was donated to YHA through a federal property disposition program. It provides 14 studios of permanent housing, 17 one-bedroom units, and 10 two-bedroom units for homeless singles and families.
Photo by Edison Creative Group (Valleyford, WA)
The 12,000 SF of social services space will provide comprehensive services in one location for homeless veterans in the Yakima community. Yakima Neighborhood Health Services will operate a primary care clinic and additional social service office space will be occupied by Veterans Administration Supportive Housing (VASH) case managers and Supportive Services for Veteran Families (SSVF) case managers. This project addresses the need in Yakima for housing and services for homeless veterans in the community.
Rendering by Kramer Marks Architects
Beacon Development Group is pleased to announce that HumanGood East has been awarded 9% tax credits by the Pennsylvania Housing Finance Agency (PHFA) for a 47 unit senior affordable housing community in the Port Richmond neighborhood of Philadelphia. Janney Street Apartments will serve seniors 62 years of age or older with 5 units set aside for formerly homeless seniors referred by the Philadelphia Office of Supportive Services. All units in the new four-story apartment complex will be one-bedroom apartments and average 670 square feet.
Janney Street Apartments received funding via 9% LIHTC in the amount of $12.0M and Pennsylvania Housing Affordability and Rehabilitation Enhancement (PHARE) Fund program in the amount of $0.6 million. Additionally, the project has been awarded $1.5 million from the City of Philadelphia and is receiving $1.5 million from the Bala Presbyterian Home Foundation.
Rendering by Environmental Works
BDG Senior Housing Developer Chris Moxon
Construction is set to begin next month on Ethiopian Village, a partnership between HumanGood and Ethiopian Community in Seattle. The project located in the Rainier Valley of Seattle, includes 90 units of affordable housing for low-income seniors with incomes ranging from 30% – 60% of AMI with 75% set aside for 50% or below AMI. The project will preserve community assets and help reduce displacement of low-income seniors while providing access to valuable services through a dedicated resident service coordinator. The ground floor will be an expansion of the existing Ethiopian Community Center providing a campus feel for community members and housing residents to interact and enjoy the amenities.
Anticipated Completion Date January 2023
New landscaping, walkways, and building wayfinding at Frederick Douglas Haynes Apartments.
New cabinetry and appliances in resident units at Frederick Douglas Haynes Apartments.
The redevelopment of the 104-unit Frederick Douglas Haynes Apartments in San Francisco, CA and 94-unit Castle Argyle Apartments in Los Angeles have both reached 50% completion. Each Community started extensive rehab in August 2020, the completed phase 1 redevelopment of Frederick Douglas Haynes included the renovation of all units in three buildings which also encompassed the property management office, laundry room and community room. New landscaping, walkways, repaved parking lots, and mailbox locations have also been installed.
Restored original signage at Castle Argyle Apartments.
New cabinetry and appliances in residential units at Castle Argyle Aprartments.
As we cross 50% project completion at Castle Argyle, much of the seismic foundation work has been completed and new sheer walls have been extended to the 7th floor. A new elevator shaft has been constructed, and the total remodel of half the resident units is nearly done. The restoration of key architectural features in the coming work will showcase the building’s classic look.
We are pleased to announce that Beacon has helped its parent company HumanGood in securing an award from the Capital Magnet Fund of $5.25 million to finance the development of affordable housing in California, Washington and Pennsylvania. The Capital Magnet Fund (CMF) program supports financing for the preservation, rehabilitation, development or purchase of affordable housing for low-income communities. This is the first CMF grant award ever received by HumanGood, and one of the largest grant awards allocated in this recent round of funding.
Beacon and HumanGood will use the grant award to address the challenges facing extremely low-income and very low-income senior households. Nationwide, there is a significant shortage of age-restricted affordable housing. According to the Harvard Joint Center for Housing Studies, the number of households aged 65 and older will grow from 48 to 79 million over the next two decades. In addition, the number of households aged 75 to 79 will increase 49% to 8.9 million by 2028 and increase another 20% to 10.7 million by 2038, a trend that also continues with households ages 80 and older. This increase in aging communities has produced an increased demand for age-restricted affordable housing. It is projected that by 2038, demand for affordable housing for low-income seniors will significantly outstrip the supply of these units.
Beacon and HumanGood have created a pipeline of ten projects that will preserve and create more than 700 affordable age-restricted rental units in California, Washington and Pennsylvania
More information on the awards can be found on the CDFI fund website at https://www.cdfifund.gov/node/1003286
Beacon Development is pleased to announce that Shantell Rice and Andy Post have joined the team.
Shantell Rice is our new Senior Housing Developer and Financial Analyst who will manage a variety of publicly funded projects and act as financial analyst to multiple projects focusing on analysis, underwriting, and feasibility. Shantell has a strong financial background that stems from her previous experience leading the underwriting and closing of both equity investments and debt transactions for U.S. Bancorp Community Development Corporation. Prior to her role at U.S. Bank, she was an investor relations manager for a LIHTC syndicator.
She holds an MBA from the University of Colorado and a BA in Journalism/Communications from the University of Oregon. Outside of work, Shantell enjoys spending time with her family, traveling, and baking cakes and pastry.
Andy Post is our new Development Associate who collaborates with housing developers and construction managers to support projects through the development process. Prior to joining Beacon, Andy worked as a grant writer for housing stabilization, food access, and statewide advocacy programs at Solid Ground and assisted with the predevelopment community engagement for Community Roots Housing’s LGBTQ senior housing building.
Andy studied Political Science at Colorado College and was a Humanity in Action Fellow in Warsaw, Amsterdam, and Seattle. He enjoys playing and teaching piano and attending plays.
Rendering by Kramer Marks Architects
HumanGood East in partnership with Inglis Housing Corporation has secured financing for a 44 unit affordable housing community in suburban Philadelphia. The site for the proposed Makemie Court community is adjacent to an existing HG community, Grace Court located in Yeadon, Delaware County. Makemie Court will consist of 44 units, including 32 units for individuals 55 years of age or older, 8 units for physically disabled individuals of any age, and 4 units reserved for physically disabled individuals 55 years of age or older.
Makemie Court will be co-developed by HumanGood East and Inglis Housing Corporation (Inglis). Inglis is a nonprofit organization whose founding dates back to 1877. Inglis’ mission is to enable people with physical disabilities — and those who care for them — to achieve their goals and live life to the fullest. Today, Inglis is the largest private provider of affordable accessible housing in the Greater Philadelphia region with more than 300 accessible, affordable apartment homes for people with disabilities.
All units at Makemie Court will be one-bedroom. The new four-story, mid-rise building will include an outdoor amenity space; including a gazebo, meditation garden and a parking area with 22 spots. A walking path will loop around the site and connect to the adjacent Grace Court. This walking path will create the community feeling of a campus and encourage interaction between the residents of the two properties. The first floor of Makemie Court will feature a lobby, community room with bathrooms and a demonstration kitchen, supportive services delivery space, a laundry room, mailroom, commissary, and a manager’s office. The total building square footage is estimated to be 41,552 GSF. Current plans are to have all units setup with Smart Home Technology. Units will sync with the Amazon Echo family of products to give tenants with physical disabilities the ability to be more independent.
The project is fully funded and expects to close its financing by June 2021. The sources of funding include the competitive low income housing tax credits from Pennsylvania Housing Finance Agency, HOME funds from Delaware County, Affordable Housing Program funds from the Federal Home Loan Bank of Pittsburgh and operating subsidy from the Chester Housing Authority. The equity partner is Raymond James and the debt provider is TD Bank. In addition both sponsors have committed funds to the project. Construction is expected to begin this summer.
Northaven Three will be located in the current parking lot of Northaven Senior Living creating an opportunity to share amenities with the existing facilities. As you can see by the photos, the site is very narrow and Walsh Construction’s initial demolition and excavation activities have to be thoughtfully orchestrated. Stay tuned for more updates as the project progresses!