Feature Project:

Cherry Tree Court Apartments

job specs:

• Cherry Tree Court Apartments, consists of (78) duplex style units contained in (39) buildings. A Community Building, with community area including kitchenette area, library area, and coin operated laundry facility; site management office and maintenance are also located on site. The low density, (7.46 units per acre), provide a single family housing atmosphere in a rental development unique to the area.
• The apartments consist of (10) one bedroom units, (36) two bedroom units, (24) three bedroom units and (8) four bedroom units. (9) Units, 11.5% are rented at 30% AMI households, (17) units, 21.7% are rented at 40% AMI households, (40) units, 51.2% are rented at 50% AMI households and (12) units, 15.3% are rented at 60% AMI households. The mixture of units and household incomes help create a diversified household and family portfolio throughout the development.
• All apartment units include as standard amenities a one car attached garage, range, refrigerator, dishwasher, microwave, garbage disposer, washer and dryer hookup, whirlpool tub in the master bath and mini blinds at window openings. The unit amenities package offered is above average for the area. Site amenities include a playground area with equipment for the tenants. A fenced in Tennis Court. A minimum of (1) parking space per unit is available in each apartment driveway without including the garages as a parking space.

 

Construction Timeline:

• Start: July 25, 2006
• End: July 25, 2007

 

Site location:

• 376 S 100 E  Washington, IN 47501

 

Project objective:

• Daviess County is a designated Area of Chronic Economic Distress as indicated in Appendix F of the 2005 QAP. This development will help satisfy Washington’s affordable housing needs. It will serve the rural population and families in need of affordable rental housing in the area. The units will be desirable with their attached garages and amenities package offered and the low density, single family housing atmosphere is an added incentive.

 

Scope of work:

• All Pre-Construction Planning
• IHCDA Tax Credit Application/Implementation
• Due Diligence for closing with, Investors and Lenders
• Project Management

• Monthly Draw Applications & Payment Scheduling
• Reporting & Site Visits with Investors & Lenders & City/County
• Compliance Reporting during Construction Phase
• Equity Installment Substantiation & Reporting

• Final Compliance Reporting/Transition to Management
• Final IHCDA Tax Credit Application
• Finalization of 8609
• General Contractor for all Phases of Construction Completion.

• Site Development
• Concrete
• Rough Carpentry
• Masonry
• Metals
• Thermal & Moisture
• Doors & Windows
• Drywall & Finishes
• Specialties
• Special Equipment
• Mechanical

• Plumbing
• HVAC

• Electrical
• General Overhead & Requirements