Ann Arbor, Michigan — Ann Arbor has sold some of its city-owned real estate to local nonprofit Avalon Housing, paving the way for more affordable housing to come to Maple Road.
The city council voted in favor last week, 10-0. $260,000 sale One of the 1.15 acre lots at 1146 S. Maple Road to Avalon, Ann Arbor’s leading provider of affordable housing.
Property located immediately south of New Hickory Way Apartment Complex in Avalon, The city exercised its first veto power in 2019, including single-family homes, for the city to purchase for $260,000. At the time, Avalon expressed interest in purchasing the property to expand the Hickory Way development, which currently consists of 70 affordable homes. He is below 60% of the regional median income.
“The sale of this property to Avalon Housing Inc. will allow them to develop at least 14 units of affordable housing on the property,” said the city’s chief deputy attorney Kevin McDonald last week. told the council in a memo, noting that the preliminary concept plans all included one bedroom. Units and onsite community spaces.
Officials from Ann Arbor and Avalon met with members of the community last September to promote Hickory Way. The first development partially funded by the city’s new affordable housing tax. As the second phase of the project neared completion, officials hinted at plans for a third phase of 14 units, bringing the total number of publicly subsidized apartments to 84.
“Avalon is thrilled to have signed an agreement with the City to purchase Hickory Way III and appreciates the City Council’s support,” said Wendy Carty Saxon, Avalon’s Director of Property Development. “We look forward to creating much-needed homes for our neighbors.”
Avalon requested a 33-month period to complete due diligence, obtain necessary urban zoning and site planning approvals, and secure financing for the acquisition and construction before closing the sale, McDonald said. said. Given the challenges of developing affordable housing and securing financing, including low-income housing tax credits, two 90-day extension options are included in the agreement, he said. rice field.
Although the property is adjacent to the city’s Hang Seng Nature Reserve, City Parks staff reviewed the property and did not recommend it be kept for park purposes, McDonald said. He said it scored a mid-28, placing it in the fourth percentile of all park acquisition submissions and in the lowest percentile of all natural area submissions.
McDonald said the city’s community services staff and the Washtenaw County Community and Economic Development Authority are helping sell properties to Avalon, expanding the supply of affordable housing in the city.
Details from Ann Arbor News: