HOBART, IN – A Safe Haven Foundation (ASHF), a 25-year-ancient Chicago nonprofit dedicated to presenting permanent solutions to help prevent homelessness and rebuild lives from homelessness, announced a groundbreaking ceremony at 7930 Iowa Street, Hobart, Indiana for the US Housing and Urban Development (HUD) and US Veterans Administration (VA) 75 Unit Apartment Project called The Rauner Family Veteran Apartments by A Safe Haven Foundation.
This project, scheduled to open in spring 2021, is a 75 Apartment Units Supportive Housing development. The apartments will be made available to low income, senior and disabled military veterans who are referred to A Safe Haven by the local US Veteran Administration offices. Onsite services will include supportive housing, individualized case management and peer support services.
The HUD-Veterans Affairs Supportive Housing (HUD-VASH) program combines Housing Choice Voucher (HCV) rental help for homeless Veterans with case management and clinical services provided by the Department of Veterans Affairs (VA). VA provides these services for participating Veterans at VA medical centers (VAMCs) and community-based outreach clinics to help Veterans find and sustain permanent housing. HUD has approved 75 vouchers for use by veterans for this project.
Since 1994, A Safe Haven s mission has always been to set new paradigms and standards of care to address and solve the root causes of poverty and homelessness, especially on behalf of our Veterans, said ASHF President and Co-Founder Neli Vazquez Rowland. As a US Army Military Veteran co-founded organization, projects like this one are very vital as it helps us at a A Safe Haven raise the bar and expand our transitional, supportive and permanent housing solutions. We are very proud to help bring our award-winning model and to build gorgeous places to live for our nation s heroes in the state of Indiana.
Rowland added: “The City of Hobart is honored to have partnered with A Safe Haven in preparation for the 75-Unit Rauner Family Veteran Apartments. Soon, low-income, senior and disabled veterans will have a place to call home in our gorgeous City. Hobart is proud that the Silverstone property has attracted a wonderful organization, and we are confident the veterans housing complex will entice more development in this area.”
In addition to over $20 million in Federal HUD/VA rental housing tax credits, bond volume and other financing secured from the Indiana Housing and Community Development Authority (IHCDA), former Governor of Illinois and Venture Capitalist, Bruce Rauner and his wife, Diana Rauner, have generously gifted $1,000,000 to A Safe Haven Foundation to support financing and long-term ongoing support.
To make this development a reality the leadership team at A Safe Haven Foundation has worked with KMA Companies as the development partner and the City of Hobart on this project for nearly three years.
The 75 apartments will showcase fully furnished apartments, a flexible meeting space/community room, exercise room, laundry room, bike storage and a perfectly, professionally landscaped outdoor patio courtyard, the US Flag and a flag from every branch of the military. The walkway to the main entrance will feature a Bronze Star monument to Michael J. Rowland, a decorated Korean War Veteran and father of A Safe Haven Co-Founder and US Army Veteran Brian M. Rowland.
There are so many individuals and organizations involved in this project that it would not be possible without their constant and long term support, said Neli Vazquez Rowland.
First and foremost, I want to give special thanks to the US Department of Housing and Urban Development, for their leadership and support. We also want to thank the former Illinois Governor Bruce Rauner and his wife, Diana Rauner for their generous gift to A Safe Haven. We also owe a debt of gratitude to the leadership of the Indiana Governor Eric Holcomb, Hobart Mayor Brian Snedecor, the US Veterans Administration, Indiana Housing Community Development Authority, City of Hobart, Lake County Community Economic Development Department, Cinnaire Investment Corporation, Multifamily Coalition for Affordable Housing and The National Bank of Indianapolis for helping make this project a reality. We also want to thank the A Safe Haven Foundation s Indiana Veterans Advisory Board lead by Pat O Donnell, Veterans Radio, Dan Mills of the American Legion, Bob Carnegie of DAV, Bill Emerson, Jim Chancellor and Victor Baker. Without the help of these individuals and organizations, an ambitious and essential project like this one could not be possible. Most of all we are very grateful for the privilege to work with so many committed and caring national, local and veterans advocates, she said.

Powered by WPeMatico

RICHMOND, VA – DF Multifamily, a division of Drucker + Falk, a performance driven real estate service and investment firm among the most respected property management and commercial real estate companies in the country, has partnered once again with Douglas Development Corporation on the leasing and management of their up and coming boutique community, Stumpf Flats on Main.
The Washington, D.C.-based developer, is one of the most dominant and successful real estate developers in the Mid-Atlantic, controlling over 9 million square feet in the Washington Metro market with an additional downtown Richmond office and presence. Douglas Development Corporation and its principals have earned a national reputation as a leader in the redevelopment of historic properties and in 2013, awarded Drucker + Falk the lease up and management of Deco at CNB, an award winning apartment community and sister property to the future Stumpf Flats.
Prominently located at 728 E. Main St. in Richmond, Virginia s Central Business District, the Stumpf Flats on Main is currently undergoing a $5 million redevelopment, having previously served as the century ancient Stumpf Hotel. Renovation plans call for the seven-tale structure to be converted into 24 one-bedroom apartments above 2,300 square feet of ground-level commercial space with an attached parking garage. Individual apartment homes will range in size from approximately 545 – 795 square feet, with rent between $1,200 – $1,500 a month.
Stumpf Flats on Main offers future residents a unique opportunity to live in a fully restored boutique historic landmark with luxurious, modern features; open concept floor plans with stylish characteristics individual to each home; and so many of the original ornate, distinctive characteristics the historic Stumpf Hotel was known for. Hard hat personal tours have already begun with several units being pre-leased and go-in dates expected in August 2020.
Andrew Chisholm, Director of Multifamily Management at Drucker + Falk, says, Having worked together since the successful lease up, and continued management, of Deco at CNB back in 2013, we are truly pleased to continue growing our relationship with Douglas Development Corporation. Stumpf Flats on Main is a one of a kind apartment community in a thriving part of the city, which we are thrilled to add to our expanding portfolio in the greater Richmond area.
We are very excited to transform this historic gem into a new residential community and to continue our efforts in the revitalization of the city of Richmond. Stumpf Flats on Main promises to blend the best characteristics of the former hotel with all the modern conveniences residents have come to expect and we are keen to see our vision come to life, added Norman Jemal, Managing Principal at Douglas Development Corporation.

Powered by WPeMatico

CINCINNATI, OH – Global real estate private equity and debt firm Asia Capital Real Estate (ACRE) has provided $68.5 million of floating-rate debt for the refinance of City Club Apartments – CCA CBD Cincinnati. The loan, which was underwritten with a LTV ratio of 63.4%, has a two-year term and two single-year extension options.
The loan refinanced City Club Cincinnati, a Class-A mixed-use property comprising 294 apartments and penthouses, 31,928 SF of office space and 17,498 SF of retail. The sponsor bought the property in 2016 as a vacant office building and recently completed a repositioning of the asset into a Class A mixed-use apartment community. CCA CBD Cincinnati is currently 90% leased on the multifamily units, with the retail 100 percent leased and the office 67 percent occupied.
ACRE is very excited to form a long-term relationship with City Club Apartments and believes that CCA CBD Cincinnati represents a best-in-class multifamily development in a market poised for long term growth, said Daniel Jacobs, Head of Origination of ACRE.
This transaction was brokered through Draper and Kramer out of Chicago.
Asia Capital Real Estate manages capital for institutional investors through a series of private equity and debt funds with AUM exceeding $2.2 billion.
City Club Apartments Founded in 1919, City Club Apartments is the first right international apartment brand. City Club Apartments is an owner, developer and manager of apartment, furnished small-term and penthouse mixed-use communities with a portfolio of approximately 10,000 apartments in 30 urban and suburban-urban apartment communities, $2 billion in real estate assets and $750 million under development/construction in Cincinnati, Detroit, Chicago, Pittsburgh, Minneapolis, Kansas City, Louisville and Cleveland with expansion plotted for the East Coast.

Powered by WPeMatico