What is the exact name and address of the property?
Name: Oak Valley
Address: 805 NE 28th Street, Ocala, FL 34470
Describe the property (# of units, square feet, type, etc.)
Building Type: New Construction Garden Style Wood
Elderly 62+
Units: 66 = 1 BRs
30 = 2 BRs
Total = 96
Describe the property amenities (clubhouse, pool, etc.)
Gathering & Catering Area
Fitness Center
Theater room
Pool
3-Sports court
What is the affordability breakdown (i.e. 30 % AMI, market rate, etc.)
1 BRs
59 BRs @ 60% AMI
7 BRs @ 40% AMI
2BRs
27 BRs @ 60% AMI
3 BRs @ 40% AMI
What is the all-in price of the property? (I.e. value of land, construction, etc.)
Purchase Price: $1,140,000
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.
Tax Credits were purchased by US Bancorp Community Development Corporation.
Total Equity = $15,783,125
US Bancorp Community Development Corporation
Construction Loan = $14,180,000
US Bancorp Community Development Corporation
Permanent Loan = $3,450,000
If this was a public-private partnership, please indicate the partner that should receive credit.
Non-Profit Partner: AM Affordable Housing – Director: NBA Legend – Alonzo Mourning
When is construction slated to begin/complete?
Commencement: End of June – 2020
Completion: June – 2021
When is leasing slated to begin?
February 2021
What is the range of monthly rent?
1BR
@ 40% = $412
@ 60% = $618
2BR
@ 40% = $495
@ 60% = $742
If residents receive any services (i.e. childcare) as part of community, please indicate.
Daily Activities
Assistance with Light House Keeping, Grocery, Shopping and/or Laundry
Adult Literacy
Computer Training
Who is the contractor, architect, engineer, landscaper (i.e. full design/construction team)?
GC: HTG Rodda, LLC (JV with Rodda Construction)
Architect: The Lunz Group
Engineer: Tillman & Associates
Interior Design: Cristina Stiles Interiors
What else is notable that ought to be highlighted?
