The winners of the first annual ULI J. Ronald Terwilliger Workforce Housing Models of Excellence are: The Boulevard in Anaheim in California, developed by John Laing Homes; Legacy at Lincoln Park in Rockville, Md., developed by Urban Atlantic Development; and Morgan Woods in Edgartown, Mass., developed by The Community Builders.
Each of the winning projects designate at least 25 percent of the units for families earning between 60 percent and 120 percent of the area median income; are built in high-cost communities and located near employment centers and transportation hubs; and use public capital subsidies for no more than 25 percent of the development costs.
Here is a snapshot of the winning projects:
The Boulevard in Anaheim
The developer transformed a former truck transfer facility into an affordable, sustainable community with 36 townhomes and 20 single-family homes. The City of Anaheim Redevelopment Agency assisted with land acquisition and site clean-up, allowing the developer to sell units at prices targeted to individuals in the 80 percent to 120 percent of area median income range of $84,100. Twenty-eight of the 36 workforce housing units are required to remain affordable to the targeted income levels for 45 years.
Legacy at Lincoln Park
With the help of the city of Rockville, Md., Urban Atlantic developed a 60-unit, for-sale, mixed-income development on a formerly obsolete public housing site. The project serves residents earning between 60 percent and 120 percent of the area median income of $99,000. The city agreed to subordinate its interest in the land to serve as equity for the predevelopment and construction financing.
Morgan Woods
The Town of Edgartown, Mass., assembled and donated 12 acres of land on the island of Martha's Vineyard, where the median sales price of a home is $702,000. Nonprofit developer The Community Builders was selected to build a 60-unit, 21 building rental community, which doubles the number of affordable housing units available on the island. The town entered into a 99-year ground lease with The Community Builders at $1 per year and committed $400,000 to site infrastructure, paid for numerous studies, and negotiated a payment in lieu of taxes, establishing a cap on real estate taxes for the first 15 years. The site design uses "cluster development" principles with structures that resemble large single-family homes but offer multifamily units.
The Terwilliger Models of Excellence Awards are presented to affordable workforce housing developments that offer innovative financing, unique construction methodologies, strong public/private partnerships, and replicability. To learn more about the program, click here.
