St. Paul AME Church rennovation and 120 affordable apartments

FloridaFuture · August 27th, 2009, 11:13 PM

Project would preserve, create
By KATHY STEELE
ksteele@tampatrib.com
Published: August 26, 2009

TAMPA - St. Paul African Methodist Episcopal Church is among the city's oldest black congregations, and its building is an iconic historical landmark. The structure also is on a list of endangered Tampa buildings in need of salvation.

Last week, developers stepped forward with a project they hope will preserve the 95-year-old church building and add 120 apartments to the city's affordable housing.

Tampa City Council members approved a $200,000 grant to development partnership SPtwo for Heritage Place. The apartments and church restoration has an estimated total cost in excess of $20 million.

The grant is from a portion of property taxes collected within the downtown redevelopment area and is contingent on developers securing all of their financing. More money could come from federal stimulus funds, tax credits and bank loans.

Debra Koehler, president of Sage Partners, presented the plan to the council members Thursday. She and developer Harry Hedges have an agreement to buy the church. Koehler said they hope to secure the funding by February.

"We want to preserve the history and tell the story," Koehler said. "The church will be the heart of our community center."

The site is in a prime transportation spot: close to the Marion Street bus transfer station and a proposed light rail stop at the former Morgan Street jail.

The apartments would be built next to the church. The façade would be preserved, and interior remodeling completed to include a leasing office, exercise room, community room and other apartment amenities.

Rent would be based on income and a sliding-fee scale with monthly charges ranging from $325 for a one-bedroom apartment to $829 for a three-bedroom residence.

"It's a gorgeous place, and I have been worried over the last years about it being empty," said Councilwoman Linda Saul-Sena. "The project is so in keeping with our goals. ... It's a win, win, win. It revives a piece of our history teetering on the edge."

The church was built between 1906 and 1917 at 506 E. Harrison St. and dedicated in 1914. Martin Luther King Jr. spoke at the church, which was a gathering place during the civil rights movement.

It is a local historical landmark and a state heritage site. Koehler said she has built thousands of affordable apartments and has a passion for history.

"I've never been able to combine the two," she said.

Reporter Kathy Steele can be reached at (813) 259-7652.

http://southtampa2.tbo.com/content/2...e-create/news/

FloridaFuture · August 27th, 2009, 11:23 PM

Street view:

http://maps.google.com/maps?source=i...,27.8,,0,-5.28

JBrisco · August 28th, 2009, 06:32 PM

YAY Redeveopment in North Downtown

This is a really beautiful church too.

TampaMike · September 2nd, 2009, 03:34 AM

Nice project, but I think we can all agree that something bigger could go on that spot.

jonknee · September 2nd, 2009, 05:20 AM

Quote:

Originally Posted by TampaMike

Nice project, but I think we can all agree that something bigger could go on that spot.

Something bigger could go on almost all 95-year old buildings, but often times it's a shame when they do.

TampaMike · September 2nd, 2009, 05:28 AM

Quote:

Originally Posted by jonknee

Something bigger could go on almost all 95-year old buildings, but often times it's a shame when they do.

I'm not saying on top of the building, but I am guessing its the space of land north of the church that will be the apartments. I can't really complain though. It's either this or likely another 20 years with this land vacant.

Jasonhouse · March 30th, 2012, 08:50 PM

The funny thing is, if HSR had been built, this new building probably would have been knocked down for something bigger in like 10-15 years.

TPAMAN · April 30th, 2012, 05:30 PM

St. Petersburg developers finding work flows for affordable housing

Despite competition for tax credits, niche affords new opportunities

Premium content from
Tampa Bay Business Journal by Jane Meinhardt, Staff Writer Date: Friday, April 27, 2012, 6:00am EDT - Last Modified: Thursday, April 26, 2012, 5:02pm EDT

Jane MeinhardtStaff Writer - Tampa Bay Business JournalEmail | LinkedIn
ST. PETERSBURG — As high expectations for their first affordable housing complex are realized, the development duo of Justin Wilson and Alex English are planning another similar project in St. Petersburg.

Wilson and English, principals of 908 Development Group in Tampa, said plans for The Lansing are in the first phase.

Actual development of the $17 million project hinges on obtaining the necessary financing, mainly through low income housing tax credits.

The company has applied to the Florida Housing Finance Corp. for the LIHTC credits, but is competing with other developers seeking credits for other projects – an indication affordable housing is an active commercial development segment.

“It’s an extremely competitive and lengthy process to get awarded these tax credits,” Wilson said.

The company expects to know in June if their application for credits is successful.

The Lansing will be similar in size and scope to The Portland, the company’s first affordable housing project in St. Petersburg.

The planned complex will have 70 rental units in eight stories of living area over two levels of parking.

908 Development selected the project’s location on First Avenue North because it is a block off Central Avenue in the urban core and close to amenities, Wilson said.

The company has chosen St. Petersburg architect and urban strategist Tim Clemmons to design The Lansing.

Georgia-based Batson-Cook Co. , which has a Tampa office and was construction manager for The Portland, will be the general contractor on The Lansing.

Potential job opportunities

908 Development used tax credit funding in developing The Portland, a 12-story affordable housing project at Eighth Street North and Third Avenue. Other financing included a $1.1 million loan from the city and a $2 million bank loan.

The project created or retained 54 construction jobs and 12 non-construction jobs, Wilson said.

The upscale 68-unit apartment complex in the Mirror Lake area, which opened in October, is fully occupied and maintains a waiting list of prospective tenants. Rents range from $591 a month for a one-bedroom apartment to $797 a month for a three-bedroom unit.

The Portland is the first new affordable housing near downtown St. Petersburg in years. The city has identified additional affordable housing as one of its priorities.

The $17 million project took four years to complete because of the economic downturn’s impacts on equity players in the tax credit market.

English said there are now more equity players such as large banks willing to participate in the tax credit market.

Perseverance needed for financing

Local support is required for the tax credit program, and the company has an agreement with the city for a low interest loan for The Lansing, Wilson said.

The company has the site for The Lansing at 1050 First Ave. N. under contract.

“First we identify a good location, a quality site,” English said. “From there, we work on obtaining financial support at the local level and then apply for tax credits.”

The time needed to see affordable housing projects to fruition “is not for the faint of heart,” he said.

Financing affordable housing and the tax credit allocation process requires “staying power” from a developer, agreed Debra F. Koehler, president of Sage Partners LLC, developers of Metro 510 in Tampa.

The $27 million complex was partially funded through tax credits. The six-story complex on the north side of downtown provides 120 work force apartments. Rents range from $588 to $808 monthly.

After opening in October, Metro 510 is fully occupied, said Koehler, a veteran of affordable housing development.

“The demand for tax credits has quadrupled in the last year and a half,” Koehler said. “Now the banks have come back in a big way. There are lots of options on the equity side.”

She plans to piggyback on the success of Metro 510 with another affordable housing development, but declined to discuss it until financing is finalized.

August 27th, 2009, 11:13 PM	#1
FloridaFuture Former Mod Join Date: Jun 2005 Location: Tampa/Gainesville Posts: 5,234 Likes (Received): 0	St. Paul AME Church rennovation and 120 affordable apartments Project would preserve, create By KATHY STEELE ksteele@tampatrib.com Published: August 26, 2009 TAMPA - St. Paul African Methodist Episcopal Church is among the city's oldest black congregations, and its building is an iconic historical landmark. The structure also is on a list of endangered Tampa buildings in need of salvation. Last week, developers stepped forward with a project they hope will preserve the 95-year-old church building and add 120 apartments to the city's affordable housing. Tampa City Council members approved a $200,000 grant to development partnership SPtwo for Heritage Place. The apartments and church restoration has an estimated total cost in excess of $20 million. The grant is from a portion of property taxes collected within the downtown redevelopment area and is contingent on developers securing all of their financing. More money could come from federal stimulus funds, tax credits and bank loans. Debra Koehler, president of Sage Partners, presented the plan to the council members Thursday. She and developer Harry Hedges have an agreement to buy the church. Koehler said they hope to secure the funding by February. "We want to preserve the history and tell the story," Koehler said. "The church will be the heart of our community center." The site is in a prime transportation spot: close to the Marion Street bus transfer station and a proposed light rail stop at the former Morgan Street jail. The apartments would be built next to the church. The façade would be preserved, and interior remodeling completed to include a leasing office, exercise room, community room and other apartment amenities. Rent would be based on income and a sliding-fee scale with monthly charges ranging from $325 for a one-bedroom apartment to $829 for a three-bedroom residence. "It's a gorgeous place, and I have been worried over the last years about it being empty," said Councilwoman Linda Saul-Sena. "The project is so in keeping with our goals. ... It's a win, win, win. It revives a piece of our history teetering on the edge." The church was built between 1906 and 1917 at 506 E. Harrison St. and dedicated in 1914. Martin Luther King Jr. spoke at the church, which was a gathering place during the civil rights movement. It is a local historical landmark and a state heritage site. Koehler said she has built thousands of affordable apartments and has a passion for history. "I've never been able to combine the two," she said. Reporter Kathy Steele can be reached at (813) 259-7652. http://southtampa2.tbo.com/content/2...e-create/news/

September 2nd, 2009, 03:34 AM	#4
TampaMike Moderator Join Date: Sep 2005 Location: Tampa, Florida Posts: 6,142 Likes (Received): 5	Nice project, but I think we can all agree that something bigger could go on that spot. __________________ Corporations Are People Too - Mitt Romney For the People that dress up like Corporations.

March 30th, 2012, 08:50 PM	#7
Jasonhouse Registered User Join Date: Jul 2002 Posts: 12,272 Likes (Received): 8	The funny thing is, if HSR had been built, this new building probably would have been knocked down for something bigger in like 10-15 years. Last edited by Jasonhouse; March 31st, 2012 at 09:31 PM.

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August 27th, 2009, 11:23 PM	#2
FloridaFuture Former Mod Join Date: Jun 2005 Location: Tampa/Gainesville Posts: 5,234 Likes (Received): 0	Street view: http://maps.google.com/maps?source=i...,27.8,,0,-5.28

August 28th, 2009, 06:32 PM	#3
JBrisco USF Architecture Student Join Date: Mar 2007 Location: Tampa, FLA Posts: 1,525 Likes (Received): 0	YAY Redeveopment in North Downtown This is a really beautiful church too.

April 30th, 2012, 05:30 PM	#8
TPAMAN Registered User Join Date: Aug 2005 Posts: 430 Likes (Received): 3	St. Petersburg developers finding work flows for affordable housing Despite competition for tax credits, niche affords new opportunities Premium content from Tampa Bay Business Journal by Jane Meinhardt, Staff Writer Date: Friday, April 27, 2012, 6:00am EDT - Last Modified: Thursday, April 26, 2012, 5:02pm EDT Jane MeinhardtStaff Writer - Tampa Bay Business JournalEmail \| LinkedIn ST. PETERSBURG — As high expectations for their first affordable housing complex are realized, the development duo of Justin Wilson and Alex English are planning another similar project in St. Petersburg. Wilson and English, principals of 908 Development Group in Tampa, said plans for The Lansing are in the first phase. Actual development of the $17 million project hinges on obtaining the necessary financing, mainly through low income housing tax credits. The company has applied to the Florida Housing Finance Corp. for the LIHTC credits, but is competing with other developers seeking credits for other projects – an indication affordable housing is an active commercial development segment. “It’s an extremely competitive and lengthy process to get awarded these tax credits,” Wilson said. The company expects to know in June if their application for credits is successful. The Lansing will be similar in size and scope to The Portland, the company’s first affordable housing project in St. Petersburg. The planned complex will have 70 rental units in eight stories of living area over two levels of parking. 908 Development selected the project’s location on First Avenue North because it is a block off Central Avenue in the urban core and close to amenities, Wilson said. The company has chosen St. Petersburg architect and urban strategist Tim Clemmons to design The Lansing. Georgia-based Batson-Cook Co. , which has a Tampa office and was construction manager for The Portland, will be the general contractor on The Lansing. Potential job opportunities 908 Development used tax credit funding in developing The Portland, a 12-story affordable housing project at Eighth Street North and Third Avenue. Other financing included a $1.1 million loan from the city and a $2 million bank loan. The project created or retained 54 construction jobs and 12 non-construction jobs, Wilson said. The upscale 68-unit apartment complex in the Mirror Lake area, which opened in October, is fully occupied and maintains a waiting list of prospective tenants. Rents range from $591 a month for a one-bedroom apartment to $797 a month for a three-bedroom unit. The Portland is the first new affordable housing near downtown St. Petersburg in years. The city has identified additional affordable housing as one of its priorities. The $17 million project took four years to complete because of the economic downturn’s impacts on equity players in the tax credit market. English said there are now more equity players such as large banks willing to participate in the tax credit market. Perseverance needed for financing Local support is required for the tax credit program, and the company has an agreement with the city for a low interest loan for The Lansing, Wilson said. The company has the site for The Lansing at 1050 First Ave. N. under contract. “First we identify a good location, a quality site,” English said. “From there, we work on obtaining financial support at the local level and then apply for tax credits.” The time needed to see affordable housing projects to fruition “is not for the faint of heart,” he said. Financing affordable housing and the tax credit allocation process requires “staying power” from a developer, agreed Debra F. Koehler, president of Sage Partners LLC, developers of Metro 510 in Tampa. The $27 million complex was partially funded through tax credits. The six-story complex on the north side of downtown provides 120 work force apartments. Rents range from $588 to $808 monthly. After opening in October, Metro 510 is fully occupied, said Koehler, a veteran of affordable housing development. “The demand for tax credits has quadrupled in the last year and a half,” Koehler said. “Now the banks have come back in a big way. There are lots of options on the equity side.” She plans to piggyback on the success of Metro 510 with another affordable housing development, but declined to discuss it until financing is finalized.