Cadillac, MI, August 7, 2020…High quality affordable housing for lower and middle income families has been in short supply for many years throughout Michigan, including in this city of 10,400 residents. Demand for affordable housing is expected to only increase in the wake of the coronavirus pandemic.
That’s why a $3.2 million rehabilitation by Woda Cooper Companies, Inc. to dramatically update Maple Hill Apartments, an outdated and aging 24-unit affordable multifamily community built in 1983, is good news for Cadillac. City leaders, including Mayor Pro Tem Tiyi Schippers, Council Member Robert J. Engels, and City Manager Marcus
Peccia, took a tour of the renovated property on Wednesday, August 5, 2020.
“It is wonderful to see the investment that the Woda Cooper Companies made into Maple Hill Apartments in Cadillac, Michigan,” said City Manager Peccia. “The renovations and redevelopment are incredible and will provide a higher quality of life for the tenants who reside there today and for future tenants tomorrow.
Mayor Pro Tem Schippers expressed comments from an elderly resident who will soon be relocated into her long term apartment. “She commented that everyone has been extremely helpful during the transitions,” reiterated Mayor Pro Tem Schippers. “She also said how lovely the upgrades are, and how excited she is to move into her fresh new space.”
The complete rehabilitation transformed Maple Hill, 209 Pearl Street, to today’s design, amenity, and green standards for sustainable, modern living. Construction work on the property’s three buildings has been completed and many residents who lived at the community before the restoration are now returning and new ones are moving into the restored apartments. Some minor outside work such as landscaping is near completion.
Maple Hill is comprised of three two-story buildings with a new addition where an onsite management office and community room are located. There are also common laundry rooms, as well as a playground and picnic area. The entire property was rebuilt to Enterprise Green standards for outstanding energy efficiency. Architect for the renovation was PCI Design Group.
Woda Cooper affiliate Woda Construction Inc, completely renovated the 24 one, two, and three-bedroom apartments with attractive new living spaces including rehabitated kitchens with ENERGY STAR appliances. Throughout the entire property there are now new roofs, siding, windows, doors, kitchens and baths, flooring, plumbing, insulation, and new high efficiency HVAC systems. Three units are now handicapped-accessible with ADA features.
“Maple Hill was once an esteemed affordable housing community and when we first visited the site in 2016 it was obvious that it was in great need of revitalization,” said Craig Patterson, Woda Cooper’s Senior Vice President who led the redevelopment. “The exteriors and apartment units needed complete rehabilitation, top to bottom. Our innovative design for the rehabilitation, combined with quality construction, means Maple Hill is now like a brand new property.”
Maple Hill Apartments is available for residents that earn up to 60% of area median income. The Rental Assistance (RA) vouchers for 16 units offered by USDA Rural Development (RD) were maintained. Returning residents who lived at the community before the renovations began were temporarily relocated on site during construction at Woda Cooper’s expense before moving into the renovated apartments once work was completed.
To finance the rehabilitation, Woda Cooper received federal Low-Income Housing Tax Credits allocated by the Michigan State Housing Development Authority (MSHDA) which created the equity needed to redevelop the affordable apartments. InSite Capital invested in the tax credits which provided primary financing with additional loans from Bellwether Enterprise. Woda Cooper also assumed the property’s existing RD 515 loan from RD. Chemical Bank provided a construction loan.
The City of Cadillac was highly supportive of the proposed renovation of Maple Hill, providing a PILOT tax abatement to Woda Cooper as part of the redevelopment plan. “We appreciate the terrific support the City of Cadillac leadership and staff offered during the pre-construction, permitting, and construction phases. This support has been vital in sustaining and greatly improving affordable housing for singles, seniors, and families in the Cadillac community,” said Mr. Patterson.
“This is a good example of public – private collaboration in seeing to these improvements getting done,” Peccia said.
“Providing housing to fixed income seniors, and low wage earning families helps our community support and care of all our neighbors,” concluded Mayor Pro Tem Schippers. “This is a good thing for Cadillac.”
About Woda Cooper Companies, Inc.
Woda Cooper Companies, Inc. and its affiliates specialize in the development, design, construction, and management of high-quality affordable multi-family apartments, senior communities, and single-family homes. The company marked 30 years in business May 2, 2020, with operations in 15 states and a portfolio of approximately 350 communities and more than 14,000 units. Green building is standard with certifications including Passive House, Zero Energy Ready Homes, LEED, Enterprise Green, EarthCraft, and ENERGY STAR. In addition to its Columbus headquarters, Woda Cooper has offices in Savannah, GA; Indianapolis, IN; Shelbyville, KY; Annapolis, MD; Mackinaw City, MI; Charlotte, NC; and Norfolk, VA. Affordable Housing Finance magazine ranked Woda Cooper Companies 10th in nation among Developers and 14th among Owners on May 1, 2020.