DHA's J.J. Henderson Senior Apartments Rehabilitation Starts!
Durham Housing Authority (DHA) CEO Anthony Scott announced the finalization of the funding for JJ Henderson Senior Apartments Rehabilitation Project on December 31, 2020. JJ Henderson Seniors is one of DHA’s six sites included in DHA Downtown & Neighborhood Plan (“DDNP”). DHA is co-developing the site through its instrumentality, Development Ventures Incorporated, along with its partners California Commercial Investment (CCI) and the Florian Companies (Florian). The $31.2 million project has a 20-months construction schedule starting January 2021.
Located at 807 S. Duke Street and built in 1979, JJ Henderson Senior Apartments consists of 177 dwelling units designated for seniors 62-years or older and disabled. As federal funding for public housing continues to be inadequate, DHA is utilizing the Rental Assistance Demonstration program (RAD) as a tool to improve its affordable housing through public private partnership that will not only renovate the housing community but ensure its long term financial stability. The renovation work will include HVAC upgrades, energy efficient appliances, a new roof, interior unit renovations and system upgrades.
CCI and Florian will lead the rehabilitation of the community. With a presence in over 25 states and over 7,000 units under management, CCI is a national housing preservation, management and development firm that specializes in preserving affordable senior communities. Florian provides local development and design expertise as well as construction management services. Kathie Soroka of Nixon Peabody LLP advised CCI in this transaction.
“The JJ Henderson Renovation is an example of the public-private partnership needed to tackle the affordable housing crisis. Our partnership includes the City of Durham, CCI, Florian Companies, the US Department of Housing and Urban Development, FHA and our LIHTC investor, Hunt Capital Partners LLC”, said Mr. Scott. The City of Durham is providing a critical $2.9 million loan to the project through the City’s Dedicated Affordable Housing Fund.
Mayor Schewel stated, “The City of Durham is pleased to support DHA in the JJ Henderson Rehab; this rehabilitation marks significant progress in the implementation of the Housing Authority’s downtown development plans, and the transformation of our city.”
Garry Collett, Co-President of CCI, explains, “The success of JJ Henderson is a testament to the public/private partnership that the LIHTC program promotes. Being able to leverage private resources for a public cause in a community such as Durham, so that elderly residents can afford to live in the place they love, has been an especially rewarding experience. We like to call it Conscious Capitalism. We are grateful to DHA, the City, and their staffs for the opportunity to do more work in the community, as well as to all the parties involved for getting us this far. Now, we do the work and deliver change for these residents.”
DHA Board Chairman Daniel Hudgins expressed great excitement about DHA’s commencement of the long awaited DDNP. “This marks the beginning of a focused effort to reposition our housing stock and continue to address the evolving demands for safe and affordable housing in our community.”
Posted on Friday, January 15, 2021