Johnston Farms Apartment Homes is a proposed 120-unit apartment community serving families in Rock Hill, South Carolina. The estimated cost of this project is $33 million. This workforce housing development project, which targets families between 50% and 100% of area median income, is proposed to be financed with 501c3 bonds. Construction is planned for October 2022.
The following video gives an overview of this energy-efficient workforce housing development. Feel free to contact Jeff Carroll at email@example.com with any questions you may have regarding this or any of Tartan Residential’s other energy-efficient workforce housing development opportunities.
In 2014 Tartan Residential began work on Buchanan’s Crossing Subdivision – A 40-unit duplex development serving families in Kansas City, Kansas. Phase 1 consisted of 16 units and was constructed with traditional wood-framed exterior walls and R-13 batt insulation. Phase 2 consisted of 8 units and was constructed with R-26 polyurethane-filled structural insulated panels. In all other respects, the first two phases were identical.
This side-by-side demonstration underscored the benefits of building with structural insulated panels. Although building with panels cost more than traditional stick-frame construction, we identified a long list of construction, operating and financial benefits associated with panelized construction.
Our design team took what we learned and engineered a 3-story garden apartment building using structural insulated wall panels. Davidson’s Landing, a 115-unit workforce housing development financed with tax-exempt bonds and located in Kansas City, Kansas is currently under construction utilizing this building system. We are currently about 70% complete, ahead of schedule and below budget. Our first units will be ready for occupancy in the next month or two.
A few weeks ago our team obtained a building permit to begin construction on Buchanan’s Crossing Phase 3, a 16-unit workforce housing development to be financed with tax-exempt bonds. Phase 3 will be constructed with R-18 graphite-infused polystyrene exterior wall panels. We plan to use high-efficiency water heaters and HVAC systems for this phase. And we plan to build one building with panels on one side of the duplex and lumber and fiberglass on the other side.
Our design team – which includes the Virginia Center for Housing Research and Mathis Consulting Company (principal Chris Mathis is an MIT-educated building performance specialist and an ASHRAE Fellow) – plans to create simulated living environments in these side-by-side units to observe and collect data on for one year. This one-of-a-kind comparison should highlight additional benefits of energy-efficient construction systems.
The following video gives and overview of this small, but exciting project. Feel free to contact Jeff Carroll at firstname.lastname@example.org with any questions you may have regarding Tartan’s energy-efficient workforce housing development opportunities.
Tartan Residential closed on a $25.8 million workforce housing development deal on July 22, 2021 – the first of a new class of apartment investments. We started working on this transaction five years ago. We survived COVID. We survived the loss of a key investor last summer. And we survived a $900,000 lumber price spike earlier this year. Yet we still got the deal done.
From the investment banker who worked with us over the past three years to close this transaction:
“Congratulations Jeff… you are the true definition of tenacity and persistence in my book Sir! What a journey… now go have fun building it!”
I am thrilled to get this deal closed. And I am humbled to have a loyal team of seasoned professionals to work with every day.
Peter Bailey is a boss, the unsung hero of “It’s a Wonderful Life.” He knows his purpose in life.
From the script:
“You know, George, I feel that in a small way we are doing something important. Satisfying a fundamental urge. It’s deep in the race for a man to want his own roof and walls and fireplace, and we’re helping him get those things in our shabby little office.”
And another quote:
“Just remember this, Mr. Potter: that this rabble you’re talking about, they do most of the working and paying and living and dying in this community. Well, is it too much to have them work and pay and live and die in a couple of decent rooms and a bath?”
Introducing Davidson’s Landing Apartment Homes, the first of a new generation of Zero Energy Ready workforce housing developments built with structural insulated panels. The development, which is located in Kansas City, KS and includes 2- and 3-bedroom units ranging from 30% to 80% of Area Median Income, is sponsored by Tartan Residential, Hughes Development Corporation, and BCCM Construction Management. Construction for this 115-unit tax-exempt bond development is scheduled for Q1 2021.
The lack of workforce housing affects millions of Americans each and every day. From the piece:
“Jeff Emerick was born and raised in the scenic, tourist destination and resort area that is Blaine County…. Emerick left Blaine County for a short while, only to return when he was offered a job at the Ketchum Fire Department.
The station requires its workers to live nearby, as an emergency could happen at any point. Unfortunately, Emerick could not afford the costly price of rent in Ketchum or surrounding cities.”
“Barnstable Brewing, Housing Assistance Corporation, and Shepley Wood Products have partnered to offer the Civic Rent lager to Cape Cod residents and to benefit a good cause.
HAC launched the Workforce Housing Relief Fund in April as a way to aid the community during the ongoing coronavirus pandemic. Now, a portion of the proceeds from the beer sales will go towards that fund.”