Davies South Terrace

Project Description

Davies South Terrace entailed the rehabilitation of 124 units of occupied affordable housing for families in a campus setting. Surrounded by green lawns, shade trees and rolling hills, the complex is within walking distance to an elementary school, houses of worship and other town amenities.

Features

This interior and exterior complete rehabilitation project features 124 apartments grouped in 7 two- and three-story buildings, clustered around a central open commons area. Ample parking areas, walkways and separate entrances offer residents convenient access to their apartments.

The wood-frame buildings feature sheltered entrances and staircases, new vinyl siding and windows for easy maintenance and textured shingled roofing. Interior renovations include new wood cabinets and appliances for the kitchens, low maintenance tile and modern fixtures for bathrooms and new flooring throughout each apartment.

Challenges

Although the project itself was a straightforward rehabilitation of an aging complex, Mountco sought to take the project one step further by creating a financing package upfront that would not only fund the renovation but maintain the property going forward. Drawing on multiple resources including a bond issue and tax credit allocation, Mountco was able to attract the necessary funds to achieve that goal.

Mountco’s development team worked very efficiently and successfully, having completed several previous projects together. Always a challenge, Mountco performed the renovation work with tenants in place, completing the project in less than one year. Mountco’s constant communications with, and coordination of, all involved parties kept disruption of residents to a minimum.

Quote

“Deciding to sell Davies South Terrace to Mountco was not an easy decision, but it has turned out to be the right one. Mountco had done everything it promised: it completely renovated the development, obtained an extended Section 8 contract to protect the tenants, and worked closely with our Board, the management company, and our tenants to make the transition as smooth as possible. We could not have chosen a better group to work with than Mountco.”

Reverend Erik Fjeldal, President, Unity Interfaith Housing Development Fund Company

Milton Harvest

Project Description

This new building provides 47 units of independent living senior housing in a rural setting with nearby retail and support services. In addition to the central main entrance, residents can enter the two-story building at either end, thereby having three points of access for their convenience.

Features

In addition to independently controlled heating and cooling, and a generous storage area, each unit boasts its own spacious outdoor covered patio area. The building design features energy efficient appliances and equipment throughout, and incorporates green building materials and practices in its construction. Directly off the lobby on the ground floor is a generous community room with an area for computer workstations and a full kitchen. The community room leads to a beautifully landscaped outdoor patio for resident activities and relaxation.

Challenges

Formerly the location of a commercial orchard, surrounded by residential homes, the sloping site had to be cleared of some limited minor agricultural contaminants and leveled for the new building. The site design placed the building on the higher portion of the property with an adjacent 400-foot landscaped earthen berm to screen views and abate sounds from a well-trafficked State road bordering the site. The design also incorporated extensive landscaping to screen the building from neighboring homes.

To accomplish the design and remain on schedule, significant earthwork, regrading and testing had to occur simultaneously with the construction of the building. Timely scheduling, phasing and management of all the different subcontractors was critical and essential in order to maintain a smooth and uninterrupted flow of work. Mountco’s skill at coordinating multiple trades and stakeholders was essential to keep this complex construction process on time and within budget.

Quote

“We were very impressed with the way that Mountco managed the construction and development process. The Mountco team was able to overcome a number of site and severe weather conditions and still deliver a quality product on time and within budget.”
Sam Ganeshan, Managing Director, Hudson Housing Capital