Gary Redevelopment Commission Turnstone Development Corporation is - PowerPoint PPT Presentation

Gary Redevelopment Commission

Turnstone Development Corporation is passionate about bringing high quality housing that inspires and enhances the lives of our residents. GARY REDEVELOPMENT COMMISSION

THE TURNSTONE TEAM DELIVERS

 We are a 501(c)(3) real estate development firm designed to facilitate the creation and preservation of affordable housing.  We carry out US HUD’s Housing Choice Voucher (HVC) program and assist with mixed-finance and low-income tax credit developments. WHO IS TURNSTONE?  We have developed over 1,500 units of housing and leveraged over $225 million in private and public capital investment since 1998.  We are active in markets across the United States including Illinois, Indiana, Florida and Arizona.  We support PHAs in their efforts to create and preserve affordable housing opportunities for low-income households.

 Experienced with residential and mixed- use projects ranging in size from 11 units to 137 units. WHY WORK WITH TURNSTONE?  Experienced in packaging project financing using 3-7 sources.  Experienced with a wide array of financing mechanisms including LIHTC equity from the state housing development authorities, local HOME funds, Public Housing Authority capital funds (PHA), American Reinvestment and Recovery Act Stimulus funds (ARRA), traditional banking and lending institutions’ loans, and grant assistance from such organizations as the Federal Home Loan Bank (FHLB) and state departments of economic development.

OUR TEAM GARY REDEVELOPMENT COMMISSION TURNSTONE DEVELOPMENT CORPORATION Mr. William Schneider ELSTON CM CORPORATION CARLTON MANAGEMENT PIEKARZ ASSOCIATES, P.C. BURLING BUILDERS LIGHTENGALE GROUP QUARLES & BRADY COMPANY CONSTRUCTION ARCHITECTUAL SERVICES GENERAL CONTRACTOR FINANCIAL CONSULTANT LEGAL SERVICES MANAGEMENT PROPERTY MANAGEMENT

THE TEAM LEADER TURNSTONE DEVELOPMENT  Almost 2 decades of affordable housing  Proven record of community engagement development success and consensus building in communities where we work  Focused personal attention on your organization and project  Financial capacity to support appropriate development  Flexible, lean project organizational structure allows for quick decisions  Highly respected and successful minority job training and placement  Accountable to you  Strong community advocate We bring an exceptional team of contractors, architects, land use planners and legal counsel to ensure a first class affordable development that fits with the community and its needs.

MEET THE TEAM  LIGHTENGALE GROUP – FINANCE ELSTON CM CORPORATION – CONSTRUCTION  MANAGEMENT CONSULTANT CARLTON MANAGEMENT SERVICES – PROPERTY  PIEKARZ ASSOCIATES, P.C. – ARCHITECTUAL  MANAGEMENT SERVICES QUARLES & BRADY, LP – LEGAL SERVICES  BURLING BUILDERS, INC – GENERAL  CONTRACTOR

LIGHTENGALE GROUP PROJECT FINANCE CONSULTANT Provide development services and   Providing strategic leadership in real coordinate financing for non-profit, for- estate financing since 1999. profit and governmental real estate developers and owners.  LGG principals have over 40 years of combined experience in affordable housing financing and development. Services include site review and  selection, marketability review, project  Served as financial consultant on more analysis (unit mix and financing structure), development partner than 50 affordable housing projects, identification, application preparation ranging in size from 8 units to 235 units. for funding for capital sources and rental assistance, assistance with negotiations with lenders/ investors and coordination of due diligence.

LIGHTENGALE GROUP SOURCES OF FINANCING CDBG Low Income Housing Tax Credits RAD (Public Housing and non- (LIHTCs) Public Housing) – first PHA closing Energy Grants in the country! Federal Home Loan Bank AHP Mezzanine Debt Section 1602/ 1603/ TCAP (2009 Historic Tax Credits Neighborhood Stabilization Stimulus Funding) HOME Program (NSP) Supportive Living Facilities HOPE VI Pre-development Loans Tax-Exempt Bonds HUD Up-Front Grant Private Debt & Equity IHDA FAF Tax Increment Financing (TIF Project-Based Rental Assistance IHDA Trust Fund Public Housing Capital Funds Illinois Affordable Housing Tax Credits

PIEKARZ ASSOCIATES P.C. ARCHITECTUAL SERVICES  Full-service architectural firm established in  Multi-family public/private partnerships include 1987 providing a broad spectrum of the City of Chicago Department of Housing, US services including site planning, HUD, the Illinois Housing Development Authority architecture, and interior design. (IHDA), the Housing Authority of Cook County, and the National Housing Trust.  Portfolio includes new office buildings, banks, retail stores, religious facilities, lofts,  PA's approach to the design process is a hotels, private clubs, multi-family residential collaborative effort with our clients that begins buildings, elderly housing, multi-family rehabilitation & adaptive reuse, mixed-use in the programming phase and continues buildings and industrial/warehouse through project completion. buildings.

BURLING BUILDERS, INC. GENERAL CONTRACTOR  Minority Business Enterprise (MBE) that  Experienced in every aspect of sustainable brings thirty years of construction and construction, from the selection of building construction management experience to materials to the installation highly efficient the Turnstone Development Team. systems.  Full service general contractor with a  Burling Builders, Inc. makes a practice of diverse portfolio of construction and implementing a diverse workforce as well as rehabilitation of commercial and inclusive opportunities for all subcontractors. residential properties, including publicly  Deliver exceptional quality, meeting and financed affordable housing exceeding project schedules while providing developments. the best value in terms of budget goals.

ELSTON CM CORPORATION CONSTRUCTION MANAGEMENT  Full service construction and construction management firm.  Provide clients a wide variety of services including construction management, general contracting services and project planning.  Past projects include new facilities for the Social Security Administration facilities in Chicago & Indiana, The Amber Inn, The Historic Liberty Life Building (a Chicago landmark) and the restoration of the Ada Summit Senior Apartments Developer – Turnstone Development Corporation Grand Townhomes. Architect – Piekarz Associates, P.C.

CARLTON MANAGEMENT COMPANY PROPERTY MANAGEMENT  Focus efforts on establishing effective operating procedures and instilling well-run maintenance programs to increase resident retention and operating income while preserving, protecting and enhancing the property’s physical assets.  CMC has extensive experience with governmental agencies and compliance programs such as US HUD, local public housing authorities and various state and local development Wisdom Village Calumet Park Owned/developed by Turnstone Development Corporation agencies. Property management by CMC

QUARLES & BRADY LLP LEGAL SERVICES  Multidisciplinary legal services provider  The Quarles & Brady Tax Credit Team has with more than 475 attorneys practicing almost 40 years of experience and is across the United States. composed of tax, real estate, and finance lawyers.  The Tax Credit Team has broad experience in new markets tax credits, low-income housing tax credits, historic tax credits, and other state-specific tax credits.

GARY REDEVELOPMENT COMMISSION GOALS  Affordable housing and mixed-use projects that meet the needs of the community.  Affordable to households at or below 60% of Area Median Income.  Bring multiple uses that compliment Gary and its neighborhoods.  Sustainable design, development and building operations.  Robust community hiring and business engagement.  Seamlessly connect the project to the community through design, density, diversity and local participation.

THE TURNSTONE TEAM VISION  Affordable housing and mixed use developments to households earning up to 60% of Area Median Income.  Building density that fits with the community.  Unit sizes that are truly livable and provide ample space for families and senior residents.  Community relevant design developed in conjunction with community stakeholders.  Sustainable building design, construction and operations. Turnstone has completed projects using LEED, EGC, Florida Green and other sustainable building standards.  Local hiring, project participation and marketing.

TYPICAL DEVELOPMENT AMENITITES Concrete construction Post-tensioned floor systems Aluminum framed windows and doors Impact resistant glass High efficiency mechanicals Green Roof Energy Star appliances Low-flow water fixtures Collaborative approach to design with community stakeholders

THE TURNSTONE TEAM – SUSTAINABILITY  Team has extensive experience in design, construction and operations of sustainable properties – Enterprise Green Community Standards, LEED.  Received capacity building grant from Enterprise Community Partners to build our green building operations and management capacity. Ensuring that our buildings take full advantage of green design to extend useful life of sustainable building features.  Our projects truly maximize sustainability features while keeping costs low.