Project Examples
- New Construction - Mixed Finance
- Construction Management (at-risk)
- HOPE VI
- Master Planning
- Construction Management (non-risk)
- Construction Management – Heating Plant Replacement
- Historic and Low Income Housing Tax Credits
- Low Income Housing Tax Credits
New Construction - Mixed Finance
The Oaks, Louisville, KY
This 100-unit mixed-income rental community was the first new construction in this historically African-American section of Louisville in over 50 years. Constructed on the former site of this city’s worst public housing, The Oaks was the first phase of this 180-acre, $130 Million neighborhood redevelopment plan. As developer, JRA’s services began with demolition of the public housing through lease-up of the new units. This project received the first LIHTCs ever awarded for this type of project in Kentucky and JRA successfully secured a precedent setting real estate tax exemption for the project from Kentucky’s Revenue Cabinet.
Construction Management (at-risk)
River Church Condominiums, Philadelphia, PA
On behalf of the River Church Companies, JRA undertook the rehabilitation of this fully occupied development in Philadelphia’s Old City District. Charged with designing and creating luxury condos from a palate of run-down apartments, JRA was responsible for the hiring, directing and scheduling of crews, as well as purchasing for this $8.9 Million project. The property was fully occupied at the time of construction adding to the responsibility of the Construction Manager.
HOPE VI
Columbia Residential Projects, Atlanta, GA
JRA served as Development Consultant to Columbia Residential, LLC in the early stages of three of the firm’s affordable housing redevelopment projects in Atlanta: Columbia Heritage Senior Residences at a cost of approximately $13 Million, Columbia Crest at a cost of approximately $15 Million and Columbia Grove at a cost of approximately $14 Million. With its extensive knowledge of HOPE VI funding and LIHTCs, JRA was instrumental in securing those funds from the Atlanta Housing Authority on behalf of Columbia Residential. These mixed-income developments have since received numerous awards such as Best of Seniors Housing by the National Association of Home Builders and Mixed Income Project of the Year – 2006. Without the HOPE VI funds, the high standard of the developments, with Fitness Centers and Community Gardens, could not have been achieved.
Master Planning
Champion Park, Rockford, IL
JRA was retained by the Winnebago County Housing Authority [WCHA] to plan for the demolition and redevelopment of its Champion Park site. Assisted by the design firm of Wallace Roberts Todd, LLC, JRA completed the plan for a new community of 110 new homes for sale and another 180 units of new rental housing extending over 80 acres. This plan formed the basis for a successful $18.8 Million HOPE VI Grant crafted by JRA on behalf of WCHA.
Construction Management (non-risk)
Desire, 9th Ward, New Orleans, LA
JRA acted as a subcontractor to Gilbane, Inc.’s construction management team for the demolition of the Desire Public Housing Project and the reconstruction of this neighborhood which was hit by Hurricane Katrina. JRA’s roles on this $50+ Million project included the restructuring of the project budget, creation of new project schedules, assessment of budget feasibility and the creation of a viable financing plan. In addition, JRA participated in developer negotiations and preparation of transaction documents.
Construction Management – Heating Plant Replacement
YMCA of Germantown, Philadelphia, PA
As the primary for coordinating the design/build replacement of the entire heating system during the winter months, JRA’s responsibilities included securing the design/build engineers, overseeing installation, managing of all applications for payment and change orders, permitting and securing financing. JRA saved the owner $350,000 through its value engineering and common-sense approach to the job.
Historic and Low Income
Housing Tax Credits
YMCA of York & York County, York, PA
As the developer of this historic structure, JRA employed a complex financing structure, using 7 sources of financing including LIHTCs and HTCs, HOME funds, the Federal Home Loan Bank’s Affordable Housing Program, as well as other state and local funds. JRA succeeded in obtaining a higher rate on the equity investment for the project by creating a unique legal structure composed of three Air Rights Estates. This $7.2 Million project preserved 120 Single Room Occupancy [SRO] units for homeless men including the complete replacement of all major building systems. The transaction provided funds for improvement of the non-residential areas of the building.
Low Income Housing Tax Credits
10th Street Development, Allentown, PA
This project in the heart of downtown Allentown involved the unique conversion of a group of former, unrelated mixed-use properties into 23 rental units. As the developer of this tax credit project valued at $2.3 Million, JRA successfully structured funds from 8 conflicting sources, public as well as private, federal, state and local funds. This project was part of a larger neighborhood strategy designed to revitalize the Old Allentown Historic District.
