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Welcome to New Brookhill VIRTUAL Community Meeting #2 Thursday, April 2; 6:30 pm
Our meeting will begin shortly. Send questions via chat or email to info@newbrookhill.com
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New Brookhill #brookhillmatters
Tom Hendrickson Chair & CEO Lookout Housing Ventures, Inc.
Patricia G. Garrett President Lookout Housing Ventures, Inc.
Natasha Fowler Project Manager V.P Project & Asset Mgt. Lookout Housing Ventures, Inc. Â Stanley Watkins City Strata Consulting Senior Advisor
Alvin C. Jacobs, Jr. Community Relations Advisor
Terry Shook Shook Kelley, Inc.
Brian Jenest Cole Jenest Stone
Frank Quattrocchi Shook Kelley, Inc.
Jeff Brown Moore & Van Allen
Tracy Russ, SOLID Public Relations Advisor
Chris Lee WeaverCooke, Inc.
Bobbie Fisher Bobbi Thomas Builders
Ricardo Fisher Bobbi Thomas Builders
Mike Jones Property Manager Brookhill Village
New Brookhill team
Courtney Lundquist S.L. Nusbaum Realty Co.
Rev. Ray McKinnon President South Tryon Community Development Corporation (STCDC)
A proud history of community over decades. Generations of families have called Brookhill Village home. A pioneering project in 1951 when originally constructed. Originally included supermarket, beauty and barber shop, gas station, hardware and variety stores for residents. Many area business and civic leaders have lived in Brookhill over the years.
A community built for hope
Buildings fall into disrepair. Community safety threatened. Brookhill left behind as surrounding area thrives. Federal Forfeiture Action by the US Attorney and more Brookhill lawsuits. Complications drive most developers away. The future of Brookhill Village looks bleak.
A future threatened by challenges
Walking in, not walking away • South Tryon Community Development Corp (STCDC) formed • Community Resource Center established • Brookhill Village II LLC “Bargain Sale” to the CDC • Brookhill Land Lease Ventures LLC buys the lease from the STCDC
Photo credit: 2018 © Alvin C. Jacobs, Jr. Permanent Collection of the Harvey B. Gantt Center
• Brookhill Land Lease Ventures LLC • •
•
Negotiated new lease with Brookhill Land, LLC (property owner). Signed agreement with ALL prior parties resulting in dismissal of ALL state and Federal actions. Agreement included commitment with CMPD to use reasonable efforts to redevelop Brookhill subject to financial commitments—including GAP funding.
Photo credit: 2018 © Alvin C. Jacobs, Jr.
A path to renewal created
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Brookhill Village today
Brookhill Village today
Photo credits: The Charlotte Observer
New Brookhill tomorrow
New Brookhill tomorrow
324 units of new housing Over half of units affordable 30% AMI 65 units 97 units 60% AMI 2 units 80% AMI Brookhill
Highest number of 30% AMI units in NC
community
Affordability in thriving South End
Unit Type
Bedroom Size
# of Units
Rent
30%
2 Bedroom
65
$
448.00
60%
1 Bedroom
8
$
820.00
60%
2 Bedroom
77
$
981.00
60%
3 Bedroom
12
$ 1,132.00
80%
2 Bedroom
2
$ 1,334.00
Market
1 Bedroom
10
$ 1,524.00
Market
2 Bedroom
30
$ 2,179.00
Market
2 Bedroom Townhome
64
$ 2,506.00
Market
3 Bedroom Townhome
56
$ 2,687.00
324 TOTAL
Mix of homes in a renewed community
• Construction begins in least-occupied areas • Temporary relocation within Brookhill • Moving assistance provided • Residents get first priority for qualification in new affordable units • Direct move into new units when possible
Minimal construction displacement
Community • • • • • • • • • • • • • • • •
On-site management Computer center Playground Pet-friendly, with dog park Swimming pool Fitness center Resident lounge Activity center Recreation center Laundry facility Controlled fob access to amenities Safety cameras Social services & activities Community gazebo Picnic area Barbeque grills
Apartment home • • • • • • • • • •
• • • •
Patio/balcony Central air conditioning Refrigerator w/icemaker Microwave oven Electric range Dishwasher Garbage disposal Washer/dryer hookups In-unit washer/dryer*
* (in townhomes; laundry facility on-site)
Window blinds Vinyl plank flooring Ceiling fans Walk-in closets
New Brookhill amenities
Photo credit: Charlotte Observer
Brookhill community
2 miles to uptown
.5 miles to future Rampart Street LYNX stop
Accessible to jobs and transportation
Photo credit: Alvin C. Jacobs, Jr. “Welcome to Brookhill”
New Brookhill Tomorrow
Photo credits: 2018 © Alvin C. Jacobs, Jr. Permanent Collection of the Harvey B. Gantt Center
Done ALL litigation over, new lease executed, and leasehold purchase closed Revised site plan submitted to Planning & CDOT Submitted application to HTF & CHOIF-LISC Begin preliminary site engineering
Very soon Submit zoning application for other parcels Secure appraisal & environmental reports Submit final Construction/Permanent Financing applications
When Will It Happen?
ASAP Spring 2020 Spring 2020
If we secure‌ City Council approval CHOIF-LISC approval Other City & County supports and approvals
April 27, 2020
Then‌ Close construction loan/forward commitment Final engineering & architecture/permits Begin selective demolition & construction in phases First units available for move-in Project complete & permanent loan closed Continued redevelopment of the remaining 22 acres
When Will It Happen?
Early Summer 2020 Summer 2020 Late Summer 2020 Summer 2021 Fall 2022 ASAP
What we can do $1.9 MM $40 MM $43 MM
Developer equity/deferred fee Construction loan with personal guarantee Long-term permanent financing
Community support needed $4.5 MM $10 MM $5.34 MM TBD
Loan - City/Housing Trust Fund (HTF) – Fully Repaid Loan - Charlotte Housing Opportunity Investment Fund (CHOIF)/ Local Initiatives Support Corporation (LISC) – Fully Repaid City of Charlotte Other City and County support and approvals
Total project cost $64.74MM
Let’s Make This Happen Together
Website - newbrookhill.com Email - info@newbrookhill.com
Stay connected - email questions to: info@newbrookhill.com
#brookhillmatters
Photo credit: 2018 Š Alvin C. Jacobs, Jr. Permanent Collection of the Harvey B. Gantt Center
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Thank you for joining! New Brookhill VIRTUAL Community Meeting #2 Thursday, April 2; 6:30 pm
Questions? Email info@newbrookhill.com Recorded meeting will be posted to newbrookhill.com.