Avalon Housing - Hickory Way
Hickory Way Apartments Phases I and II
1120 and 1130 S. Maple Road, Ann Arbor, MI
70 Total Units
- 70 one-bedroom units
- 50 Total Project-Based Vouchers
- With vouchers, tenant rent is 30% of income
- Remaining rents set around 40% of Area Median Income
Funding Sources Phase I
- MSHDA Low Income Housing Tax Credits (Limited Partner: National Equity Fund) - $ 8,276,172
- Washtenaw County HOME - $ 690,963
- Ann Arbor Housing Fund - $ 130,004
- Federal Home Loan Bank AHP (Sponsored by Chelsea State Bank) - $ 434,934
- General Partner Equity - $ 126,600
- Chelsea State Bank Perm Loan - $ 1,100,000
Funding Sources Phase II
- MSHDA Low Income Housing Tax Credits (Limited Partner: National Equity Fund) - $ 8,540,803
- City of Ann Arbor Housing Millage - $ 300,000
- Ann Arbor Housing Fund - $ 450,000
- Federal Home Loan Bank AHP (Sponsored by Chelsea State Bank) - $ 321,515
- Chelsea State Bank Perm Loan - $ 1,000,000
TOTAL: $21,370,991
Additional Funding
- Supportive Housing Services Funding through the Ann Arbor Affordable Housing Millage Construction loans from Old National Bank and Chelsea State Bank
- Acquisition Bridge Loan: Corporation for Supportive Housing PILOT through the City of Ann Arbor
- MSHDA Project-based vouchers (23)
- Ann Arbor Housing Commission VASH vouchers (12)
- Ann Arbor Housing Commission vouchers (non-VASH) (15)
Design Goals and Highlights
- All 70 units visitable (no step entries, wide entry doors and halls)
- 15% of units (12) are fully barrier-free
- Achieved Enterprise Green Communities Certification; no combustion in units
- Wireless internet provided
- Onsite Clinic, Fitness Center and Community Center
- Raised garden beds for tenant gardening