|
Summer 2005 Issue Summer 2008 Issue
AUGUST 2008 PUBLICATION OF HOMESTRETCH
RIDGEWOOD CONDOMINIUMS
With a $506,000 Housing Resources Fund Grant from the Michigan State Housing Development Authority and financing from National City Community Development Corporation and the Michigan Interfaith Trust Fund, HomeStretch acquired four (4) townhouses and is completing the construction of four (4) ranch style homes.
 
The homes feature spacious living areas, three bedrooms, one and one-half bath rooms, full basements, attached one and two car garages, decks and porches and meet 5-Star energy standards.
First-time home buyers that purchase a ranch style unit will be eligible to receive a $5,000 grant from the Federal Home Loan Bank of Indianapolis - Housing Opportunities Program (HOP) which  is sponsored by Fifth Third Bank. The grant is used to help low-income buyers pay closing expenses.
The homes are located in a quiet, wooded setting in the Villages of Traverse City, which is on LaFranier Road about one-half mile south of South Airport Road. The Villages community has private streets, sidewalks, green spaces, a bus stop for both BATA and school buses and a community center.
DEVELOPMENT MANAGER HIRED
 In Spring of this year, HomeStretch hired Kevin Cranson to fill the new position of Development Manager. Kevin’s responsibilities include site selection and acquisition, project planning, funds development and organizational administration. Rotary Charities of Traverse City and the Great Lakes Capital Fund are providing multi-year grants to help HomeStretch expand its development capacity.
Prior to joining HomeStretch, Kevin worked for the Northwest Michigan Human Services Agency where he provided credit counseling, financial literacy education, foreclosure prevention services and conducted first-time homebuyer workshops.
OFFICE MOVES TO LOGAN VALLEY
HomeStretch has moved to a new location. The address for the office is 3104 Logan Valley Road, Suite 300, Traverse City, Michigan 49684. Telephone and fax numbers remain the same as do our e-mail addresses and the web site. When you get the chance, stop in for a cup of coffee and a tour of our new home.
HOMESTRETCH WANTS YOU!
The HomeStretch Board of Directors currently has four (4) vacancies. To fill these empty seats we need one representative from Antrim County, Benzie County and Kalkaska County, and one low-income person from anywhere in our fiver county service area. Please don’t hesitate to contact us if you are interested in serving.
AFFORDABLE HOUSING PARTNERS RECOGNIZED
At this year’s Michigan Conference on Affordable Housing, HomeStretch recognized the financial and technical support provided by long-time partners. Executive Director William Merry and Vice-President Kristin Brady presented colorful mosaic plaques to Mark McDaniel, President, Great Lakes Capital Fund, Christine Coady, Executive Director, Michigan Interfaith Trust Fund, and Jason Paulateer, Executive Director, National City Community Development Corporation. The unique plaques were handcrafted by local artist Adam Begley.
   
HOMESTRETCH AWARDED HOUSING RESOURCE FUND GRANT
The Michigan State Housing development Authority has awarded HomeStretch a $250,000 Housing Resource Fund Grant for the development of four homes. Currently three locations are being considered for development. HomeStretch plans to build homes similar to the improved Carlisle model currently under construction in the Villages of Traverse City. These homes will feature larger living areas, cathedral ceiling, 3 bedrooms, two full baths, a full basement, two car garage and a porch.
Watch future HOMEPAGE newsletters for project updates.
Summer 2008 Issue Back to Top Summer 2005 Issue
AUGUST 2005 PUBLICATION OF HOMESTRETCH
KENSINGTON PARK EAST TOWNHOUSES
 Phase I of the Kensington Park East development has been completed and excited HomeStretch homebuyers will soon be moving into their new homes. These townhouses are situated in a quiet, secluded neighborhood of Traverse City, and are close to major shopping districts, schools and employment. They are a part of a larger market rate residential project being developed by the Carson Group. LLC.
Our affordable 1,100 square foot units feature three bedrooms, 1.5 baths, an open dining/living area that lead to a patio and wooded backyard, an attached garage and full basement. Baesch Building Services, Inc. has acted a General Contractor for the project. The Michigan State Housing Development Authority, Michigan Interfaith Trust Fund, National City Community Development Corporation, Fifth Third Bank, Great Lakes Capital Fund and HomeStretch provided the development financing.
Homebuyers will once again be receiving Homeownership Opportunity Program grants from the Federal Home Loan Bank of Indianapolis through our sponsor, National City Bank. The $3,000 per unit grants will be used to pay down payments and closing costs.
We are grateful to all of our project partners, including the Carson Group, LLC who sold the property to HomeStretch. Many appreciative families and individuals will benefit from this new development, and the surrounding neighborhood is realizing a significant improvement as well.
“The Planning Commission and Township Board of Garfield Township are greatly concerned with the provision of affordable housing within the Township. To assist with keeping the housing prices affordable in the Kensington Park project, the Township significantly increased its normal contribution to the reconstruction of the residential streets within the project.”
Gary G. Harsch
Director of Planning, Garfield Township
HOMESTRETCH HIRES CONSTRUCTION MANAGER
Last spring, HomeStretch hired consultant Jonathan Stimson, owner, Good Harbor Builder, Inc., to oversee the construction of Kensington Park East. Jon is a licensed General Contractor and has operated Good Harbor Builders since 1996. HomeStretch requires management services to ensure the successful planning, design and construction of affordable housing. Stimson is inspecting the Kensington Park East job site to ensure compliance with contract specifications and construction codes, and approving payment requests. He also monitors partner projects to ensure feasibility and compliance with HomeStretch Program Specifications. In addition, he will oversee asset capital improvements as necessary.
Jon has a passion for the construction industry, along with dedication to the creation and preservation of affordable housing. “I am pleased to be working with a developer that constructs attractive, affordable housing using conventional building methods. My efforts are geared towards providing a quality, energy efficient product, while maintaining affordability.”
 Leelanau County Home
This attractive home located in the New Neighborhood in the Village of Empire, was developed by the Leelanau County Planning and Community Development office. It will be sold to an income eligible family or individual, and will become a part of the HomeStretch Community Land Trust to ensure long-term affordability. It is one of two Leelanau homes.
GREEN BUILT MODEL HOME PLANS UNDERWAY
This past spring, HomeStretch organized a team of professional advisors to plan and design a model “Green Built” home in the Grand Traverse area. The Great Lakes Capital Fund provided a predevelopment grant to help HomeStretch pay for design services, site plans, surveys and other technical assistance costs.
Green building methods reduce pollution and the waste of natural resources when constructing a home. A Green Built home is energy efficient, takes advantage of natural processes to use less energy, and provides healthier indoor and outdoor air quality.
After reviewing several plans, cost estimates, material options and various program requirements, the HomeStretch Green Home Committee decided to modify an existing HomeStretch plan to conform to Green Communities criteria and Built Green Grand Traverse certification requirements. One the integrated plans and specifications are completed, additional financing will be sought for land acquisition and construction.
The Advisory Committee is comprised of the following individuals:
- Fred Brown - Northwest Michigan Human Services Agency
- Tom Comstock - Comstock Construction
- Ray Fisher - Wolohan Lumber
- Ted Shaw - Brown Lumber Company
- Jon Stimson - Good Harbor Builders
- Max Strickland - Burkholder Construction
- Jeremy Truog - Sustainable Environmental Services
- Gary Woodcock - retired home builder
The Green Built home will serve as a model for HomeStretch with the potential of being replicated throughout the Grand Traverse Region. HomeStretch also intends to share the design and specifications with other Michigan nonprofit housing developers. Look for updates on the project on our website and in the HomePage newsletter.
HOMESTRETCH STRATEGIC PLANNING
In October of 2004, HomeStretch began a series of strategic planning sessions led by Darrell Rogers, Professional Business Advisor, Michigan Technology Education Center. The Board examined programs and performance, and charted a challenging course for years 2006 - 2008.
The development of well designed, quality homes for sale to low-income families has become HomeStretch’s “core product” - it’s what we do best. The organization plans to develop thirty new homeownership units over the next three years. In addition, the corporation is willing to partner with developers in communities where there is a demonstrated need for small, multi-family rental units. Every effort will be made to distribute these homes and rental units throughout the corporation’s five county service area.
Concurrently, HomeStretch will explore new modes of production for the purposes of reducing costs and improving quality, which includes true “turn-key” projects with for-profit developers and mixed income projects with both nonprofit and for-profit developers. The construction of an affordable “green” home is another example of a new method being explored by HomeStretch to improve homeownership opportunities.
To accomplish its goals, HomeStretch recognizes the need to develop a broader base of financial and political support both locally and at the state level. Despite generous subsidy through the MSHDA HOME Program, rising land and construction costs continue to impede the corporation’s ability to produce affordable housing.
The Board has established a three-year fundraising target to develop specific projects and build organizational capacity. The primary focus of these efforts will include membership development, grants acquisition and communications. Additionally, HomeStretch will explore new ways of doing business, such as becoming its own General Contractor and finding new sources of low-cost capital.
HomeStretch’s 2006 - 2008 Strategic Plan is consistent with its core values and has the potential to provide a variety of quality, affordable housing opportunities for the region’s growing population of low-income working families and individuals. It points the way to a more productive and successful future.
HOMESTRETCH AWARDED HOME GRANT
The Michigan State Housing Development Authority recently awarded HomeStretch a $500,000 HOME Grant to construct Phase II of Kensington Park East, eight townhouse style homes. Excavation and construction will begin this summer. The units will be sold to income eligible families and individuals.
The attractive homes will feature three bedrooms, 1.5 baths, an open living area, spacious backyard, an attached garage and full basement. Additional financing will be provided by the Michigan Interfaith Trust Fund, National City Community Development Corporation, Fifth Third Bank, Great Lakes Capital Fund and HomeStretch.
The quality built homes are located in Garfield Township, just East of Cherryland Center, nearby employment opportunities, schools and shopping. Marketing and sales activities are already underway, so if you are interested in purchasing a Kensington Park East condominium, please call the HomeStretch office at 231-947-6001 or visit our website at www.homestretchhousing.org.
Summer 2008 Issue Top of Page Summer 2005 Issue
|
