Spring Flats is a $78 million, 185-unit mixed-income, mixed-tenure development in Washington, DC. Located on the border of DC’s Petworth and Columbia Heights neighborhoods, Spring Flats provides a range of much needed affordable housing in an amenity-rich location. Once completed, the project will provide affordable senior housing, mixed-income family housing, and condominiums, as well as a new road that will be dedicated back to the District. Sources included 4% and 9% LIHTC (including a 4/9 twin), District of Columbia’s Housing Trust Fund, HUD 221(d)(4) and Freddie TEL loans, and sponsor equity.

Completed at Brinshore Development

Sarah’s on Sheridan provides permanent supportive housing, a 50-bed interim housing facility and program space for homeless women in Chicago Uptown’s neighborhood. The sponsor, Sarah’s Circle, is a 40-year old social service organization that provides critical resources for women experiencing homelessness. Jolene served as a consultant, helping Sarah’s Circle navigate the development and construction process. The project’s total budget was $18 million. Sources included: City of Chicago TIF, Developer Equity, Federal Home Loan Bank Affordable Housing Program Funds, ComEd energy incentives and project based vouchers from the Chicago Housing Authority.

Completed at Brinshore Development

In partnership with Southwest Organizing Project, a community-based not-for-profit in the Chicago Lawn neighborhood, approximately 60 units were acquired and rehabilitated in a 20-block area. This targeted approach allowed the development team to make a visible impact on vacancies and spurred additional private investment in the neighborhood. In addition to rental housing, the initiative also provided homeownership opportunities and neighborhood serving commercial spaces. Project financing included: 9% percent tax credits, Neighborhood Stabilization Program funds, Illinois Affordable Housing Tax Credits, philanthropy, state grant funding, and reinvested sales proceeds.

Completed at Brinshore Development

In 2010, HUD’s $18 million NSP2 grant to address the foreclosure crisis was the single largest housing investment the Evanston had seen at the time. That investment was leveraged to acquire 100 units of foreclosed housing and develop a new 32-unit tax credit development. The targeted approach, focused in just two census tracts, allowed for the transformation of vacant properties into affordable rental and for sale housing. As part of the effort, Jolene implemented M/WBE and Section 3 programs, exceeding the City’s contracting and hiring goals. She also created a second mortgage program to ensure affordability for prospective homebuyers while creating opportunities to build wealth.

Completed at City of Evanston