At its Feb. 22, 2011 meeting, the Ann Arbor city council approved the site plan for an Avalon Housing project at 1500 Pauline Blvd. that would construct 32 dwelling units and 39 surface parking spaces. The plan includes demolition of four existing apartment buildings containing 48 units. The new construction would include six new buildings totaling 53,185 square feet. Five of the buildings would include one-, two- and three-bedroom apartments and three-bedroom townhomes. The sixth building would be a community center with a playground.
Estimated cost of the project is $8 million. That cost includes an upfront developer’s fee of 15% – typical for nonprofit projects like this – as well as costs associated with relocating current residents and paying for their housing at an alternative site for up to five years, as mandated by federal law under the Uniform Relocation Assistance and Real Property Acquisition Policies Act.
Avalon expects to fund the project through a combination of sources, including Low Income Housing Tax Credits, HOME program subsidy (HUD funds allocated through the Michigan State Housing Development Authority and the Washtenaw Urban County), the Federal Home Loan Bank, and private loan funds.
The proposal complies with the site’s R4B zoning. The city’s planning commission approved the site plan at its Jan. 20, 2011 meeting on a 7-0 vote.
This brief was filed from the boardroom in the Washtenaw County administration building, where the council is meeting due to renovations in the city hall building. A more detailed report will follow: [link]