IMI Community Development Projects
8
IMI Community Development Projects Community Development Services, is one of the primary lines of business for IMI. Within the next 2 years, IMI seeks to bring on line, a Life Learning Center and an affordable senior housing center as its flagship community development projects. The Life Learning Center at Israel Baptist Church State-of-the art community facility attached to Israel Baptist Church. It is intended to house a wide range of health, education, senior citizen, sports and fitness activities administered by the church, IMI and major non profit service providers. It is in the final stages of the pre-construction phase and has received preliminary public and private financial commitments and a building permit. Subject to the closing on public and private sector financing in 2011, construction is projected to commence in early 2012 and conclude in the summer of 2013. Israel Manor Senior Residences A companion project is a 49 unit Senior Housing Center project, being developed for a site approximately 2 blocks away from the Life Learning Center at 10th Street & Rhode Island Avenue. In June 2009, IMI purchased the land with a SAFI loan from the Enterprise Community Loan Fund. IMI also closed on a pre-development loan from the DC Department of Housing & Community Development. Construction is expected to commence on this
description
The Life Learning Center at Israel Baptist Church - PowerPoint PPT Presentation
Transcript of IMI Community Development Projects
IMI Community Development Projects
Community Development Services, is one of the primary lines of business for IMI. Within the next 2 years, IMI seeks to bring on line, a Life Learning Center and an affordable
senior housing center as its flagship community development projects.
The Life Learning Center at Israel Baptist Church
State-of-the art community facility attached to Israel Baptist Church. It is intended to house a wide range of health, education, senior citizen, sports and fitness activities administered by the church, IMI and major non profit service providers. It is in the final stages of the pre-construction phase and has received preliminary public and private financial commitments and a building permit. Subject to the closing on public and private sector financing in 2011, construction is projected to commence in early 2012 and conclude in the summer of 2013.
Israel Manor Senior Residences
A companion project is a 49 unit Senior Housing Center project, being developed for a site approximately 2 blocks away from the Life Learning Center at 10th Street & Rhode Island Avenue. In June 2009, IMI purchased the land with a SAFI loan from the Enterprise Community Loan Fund. IMI also closed on a pre-development loan from the DC Department of Housing & Community Development. Construction is expected to commence on this project in Spring-2012.
10th Street & Rhode Island Avenue NEWashington, DC 20018(Targeted Opening – Spring 2013)
Israel Manor Senior Residences
Israel Manor Senior Residences
About the Israel Manor Senior ResidencesAbout the Israel Manor Senior Residences
CONSTRUCTION TYPE: New Construction
PROJECT LOCATION: Ward 5Rhode Island Avenue & 10th St., NE
Washington, DC 20018
PROJECT TYPE: Affordable Housing for Seniors
NUMBER OF UNITS: 49 – 1 bedroom units
MONTHLY RENTAL RANGE: $750 - $850 monthly rent
LEED LEVEL: Silver
PROJECT STATUS: Pre-Construction
INVESTMENT: $966,000 (as of 6/1/2011)
ESTIMATED PROJECT COST: $13 Million
TARGETED DELIVERY: Winter 2013
DEVELOPER & BORROWER: Israel Manor Inc.
1251 Saratoga Avenue, NEWashington, DC 20018202.269.0017 phone202.832.9645 fax
MANAGING DIRECTOR: Carrie L. [email protected] (cell)
VISIONARY & LOAN GUARANTOR: Israel Baptist Church
Rev. Dr. Morris L. Shearin, Pastor1251 Saratoga Avenue, NEWashington, DC 20018202.269.0288 phone202.832.9645 fax
OWNER REPRESENTATIVE & FINANCING CONSULTANT: Community Development Concepts
Lawrence Cager, Russell Simmons
ARCHITECTS: Bryant Mitchell ArchitectsMelvin L. Mitchell, FAIA
ENVIRONMENTALENGINEERS: GeoConcepts Engineering Inc
GENERAL CONTRACTOR: Hamel Builders
GENERAL COUNSEL & REAL ESTATE
TRANSACTION ATTORNEY: Jordan & KeysGeorge R. Keys, Jr.
LEED Green BuildingRequirement Consultants: Terralogos
Kim Schaefer, Architect, LEED AP
