HTG QUESTIONS FOR NEW DEVELOPMENTS PRESS RELEASES
What is the exact name and address of the property?
Lafayette Gardens – 1211 E Lafayette Street, Tallahassee, FL 32301
Describe the property (# of units, square feet, type, etc.)
96 units total – 60/18/18 (1/2/3 bedroom) – 709/959/1159 square feet
Describe the property amenities (clubhouse, pool, etc.)
Clubhouse, pool, playground, bike/walk trail, media center, fitness, etc
What is the affordability breakdown (i.e. 30 % AMI, market rate, etc.)
10 units at 33% and 86 units @ 60%
What is the all-in price of the property? (I.e. value of land, construction, etc.)
$20.9 MM
Please describe the funding sources – i.e. tax credits used, who bought the tax credits, as well as additional loans taken, and sources of soft financing. Total of financing.
- Construction Loan – $15 MM Chase – will be taken out by below
- Tax credit equity – Raymond james $16.1 MM tax credits
- Perm loan – $4.8 MM walker Dunlop Freddie perm
If this was a public-private partnership, please indicate the partner that should receive credit.
No
When is construction slated to begin/complete?
June 1 2020
When is leasing slated to begin?
March 1, 2020
What is the range of monthly rent?
$315-930
If residents receive any services (i.e. childcare) as part of community, please indicate.
- Adult Literacy
- Employment Assistance Program
- Financial Management Program
Who is the contractor, architect, engineer, landscaper (i.e. full design/construction team)?
- GC – Hennessy
- Architect – fugleberg Koch
- Engineer – Inovia Group
- Landscape – Wood + Partners
- ID – Stiles Interiors
When is construction slated to begin/complete?
- Designating brownfield currently
- Worked with all neighborhood groups
- Saved a lot of existing trees
- Honestly pretty cookie cutter deal overall