Honoring Creativity: NH&RA Announces Winners and Finalists in 2014 ‘Timmy’ Awards Competition for Historic Rehabilitation Projects

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The conversion of a former cider vinegar factory in Kansas into a high-end art gallery and events center, and the renovation of a vacant former hotel in Los Angeles to create affordable apartments and a Mariachi Cultural Center, are among the 13 real estate projects named as winners and finalists for the 2014 J. Timothy Anderson “Timmy” Award for Excellence in Historic Rehabilitation.

Started and administered by National Housing & Rehabilitation Association (NH&RA), the Timmy Awards honor outstanding projects that involve the renovation of older historic buildings, including those using federal historic rehabilitation tax credits. The awards honor the late J. Timothy Anderson, a Boston architect and leader in the historic preservation field.

Judges selected the winners and finalists from 40 entries. Winners in all five permanent categories and in four Judges’ Award categories will be recognized October 7 at a luncheon ceremony during NH&RA’s 2014 Fall Developers Forum in Boston, Mass.

The 2014 competition was co-sponsored by the National Trust Community Investment Corporation, a subsidiary of the National Trust for Historic Preservation.

WINNER

Best Historic Rehab Project Utilizing Low-Income Housing Tax Credits — (Small – Total Development Cost of $10 Million or Less)

The Warwick
Newport News, Virginia
Community Housing Partners, a regional nonprofit based in Christiansburg, Va., acquired a vacant seven-story building in 1995, constructed as The Warwick Hotel in 1928, and turned it into 88 single-room occupancy units providing affordable permanent supportive housing for formerly homeless persons. In 2011, the nonprofit renovated the same brick structure to restore its striking original appearance, upgrade the housing units, replace the roof, enhance the offices and space for resident services, and make energy efficiency improvements. The project, designed to EarthCraft green building standards, was completed in May 2013. Architectural highlights include coffered ceilings, large square columns and beams featuring intricate plasterwork, and restoration of the original terrazzo floor in the lobby. Funding sources for the $9 million project included equity generated by federal and state historic rehabilitation tax credits and federal low-income housing tax credits, several loans, and a deferred developer fee. Virginia Community Development Corporation syndicated the tax credits.
Architect: CHP Design Studio

WINNER

Best Commercial, Retail, or Non-Residential Project

Cider Gallery
Lawrence, Kansas
This limestone and brick industrial building once used as a cider vinegar factory was redeveloped by Krsnich Investment Group into a multi-use facility containing a high-end art gallery that doubles as event space and a second floor office “business port” with 16 modern offices for longer-term tenants and office space and support amenities available for use for an affordable monthly membership fee. The new facility, booked far into 2015 for a variety of events, was created through the rehabilitation of the 15,000-square-foot building, which dates back to 1883 and was originally used by the Kansas Fruit and Vinegar Company. Cider Gallery is the second major renovation in the downtown Warehouse Arts District, which attracts locals and tourists alike for a monthly art walk tour, performances, and other events. The $2.4 million project, completed in June 2013, was funded by equity generated by federal and state historic tax credits, a permanent mortgage, and deferred developer fee/owner equity.
Architect: Rosemann & Associates

WINNER

Best Historic Rehab Utilizing New Markets Tax Credits

Lykes Steamship District
New Orleans, Louisiana
Federal new markets tax credits and federal and state historic tax credits generated much of the funding for this $19 million project by Renaissance Neighborhood Development Corporation (RNDC), a local nonprofit. Completed in July 2013, the project involved the renovation and adaptive re-use of three old buildings. The Lykes Steamship Company office building, constructed in 1949, now contains 52 affordable and market-rate apartments. The renovated Centennial Cotton Press building, constructed between 1885 and 1895 and originally used for a cotton press, now houses the Fresh Food Factor. Operated by Volunteers of America Greater New Orleans, this facility has a commercial kitchen producing nutritious meals delivered to local customers, including schools, and provides culinary skills training to prepare participants for jobs in the food services industry. Community development entities affiliated with Volunteers of America National Services and Enterprise provided new markets tax credit allocations for the project. Funding sources included equity generated by federal and state historic tax credits and federal new markets credits, multiple loans and grants, developer equity, and a deferred developer fee. The federal tax credits were placed with U.S. Bancorp Community Development Corporation, while the state historic credits were syndicated by Tax Credit Capital, LLC. RNDC worked with the National Park Service to create a special Lykes Steamship Historic District making all three buildings eligible for historic tax credits, due to their significance in the historic Mississippi River shipping industry.
Architect: John C. Williams Architects, LLC

FINALISTS

Best Historic Rehabilitation Utilizing Low-Income Housing Tax Credits — (Large – Total Development Cost Above $10 Million)

Ames Shovel Works
North Easton, Massachusetts
Boston-based Beacon Communities LLC created a unique mixed-income residential community containing 113 affordable and market-rate apartments, a management office, and a club room for residents through the rehabilitation and adaptive re-use of seven historic buildings dating between 1852 and 1928 that were once part of the Ames Shovel Works factory complex. An eighth building has been leased to the Easton Chamber of Commerce and the Easton Shovel Town Cultural District. The shovel company mass produced iron-blade and later steel shovels used in the California Gold Rush, building the Transcontinental Railroad and Panama Canal, and as standard field issue for U.S. Army soldiers in every conflict from the American Civil to Korean Wars. At its peak in the second half of the 19th century, the company employed more than 500 workers, produced 1.4 million shovels a year, and controlled 60% of the world shovel market. Completed in December 2013, the nearly $47 million, 160,000-square-foot project was funded by equity generated by federal and state historic and low-income housing tax credits and a preservation restriction on the buildings’ facades, multiple loans, and a deferred developer fee. Bank of America Merrill Lynch provided the tax credit equity and made a construction loan.
Architect: Prellwitz Chilinski Associates

Boyle Hotel – Cummings Block
Los Angeles, California
In a $25.1 million transaction, the East LA Community Corporation, a local nonprofit, purchased and renovated a vacant former hotel and constructed an adjacent new apartment building to provide affordable housing and preserve the neighborhood’s cultural heritage. The Boyle Hotel, built in 1889, was originally owned by two prominent local families but later converted to apartments occupied by musicians from nearby Mariachi Plaza. The presence of mariachi musicians exemplifies the current cultural fabric of the 98% Latino neighborhood of Boyle Heights. The renovated hotel now contains 31 affordable apartments, two community rooms, 4,150 square feet of commercial space, and a Mariachi Cultural Center with three rehearsal rooms for musicians. The hallways connect to the new building, which contains an additional 20 affordable apartments. Funding sources for the project, completed in July 2012, included equity generated by federal historic and low-income housing tax credits, local housing trust fund dollars, multiple loans, and a deferred developer fee. The federal tax credits were syndicated by National Equity Fund, Inc. and the state tax credits by California Housing Partnership Corporation.
Architect: Richard Baron Architects

Garfield Commons Apartment Homes
Phoenix, Arizona
DESCO Arizona Affordable Housing LLC created a 98,000-square-foot residential campus targeted to low-income veterans through the rehabilitation of a multi-wing building that was constructed in 1960. The building was operated by the Little Sisters of the Poor as a nursing home primarily for priests and nuns until 1993, when a bank foreclosed and sold the note to an Iowa businessman. The property was vacant for much of the next 17 years, during which time a variety of potential redevelopment plans were explored, but fell through. DESCO acquired the property and completed the $19.2 million rehabilitation project in December 2013. The two-story building contains 100 affordable apartments, a restored chapel with stained glass windows, multiple common areas, and outside courtyards. Services are provided to the many veterans living at the development. Funding sources included equity generated by federal historic and low-income housing tax credits, a HOME loan from the city, and a deferred developer fee. The tax credit equity investor was Affordable Housing Partners, Inc., a unit of Berkshire Hathaway.
Architect: Biltform Architecture

Hyde Park South Apartments
St. Louis, Missouri
This development contains 50 affordable apartments and three commercial spaces created by ND Consulting Group and Tim Person & Associates from the acquisition and rehabilitation of 25 vacant buildings in the historic Hyde Park Neighborhood. To date, the co-developers have built and renovated 250 affordable apartments and several commercial spaces in this former German working-class neighborhood that had fallen into decline by the 1960s. The 25 buildings comprising the project were constructed for the most part in the 1890s and acquired over two years from private owners and the city’s Land Reutilization Authority. Funding sources for the $16.7 million project, completed in March 2013, included equity generated by federal and state historic and low-income housing tax credits, federal HOME and Neighborhood Stabilization Program dollars, tax-exempt bonds, and a permanent mortgage. The development also received 15-year property tax abatement. The federal tax credits were syndicated by City Real Estate Advisors, Inc. and the state tax credits by Sugar Creek Capital.
Architect: AGM, Inc.

Linwood Mill Apartments
Northbridge, Massachusetts
A restored bell tower, brick exterior, and exposed columns, beams, and floor decking in apartments and common areas reflect the original industrial character of this former textile mill building, constructed around 1866. EA Fish Development and O’Connell Development Group, Inc. redeveloped it into 75 affordable apartments for persons 55 or older plus 20,000 square feet of retail space. Financing for the $18.6 million project, completed in March 2012, included equity generated by federal and state historic and low-income housing tax credits, tax-exempt bonds, multiple loans, and other sources. The former mill complex, constructed in the early 1830s, originally produced fine fabrics, sateens, and shirt fabrics before shifting to specialty textile production and later, other manufacturing. In the 1980s, the building became primarily an office storage facility and later was vacated entirely. EA Fish Development had to secure six separate allocations of Massachusetts historic tax credits for the project over a nearly three-year period. The federal tax credits were syndicated by Raymond James Tax Credit Funds and the state tax credits placed with Apple, Inc. and Quincy Mutual Group.
Architect: The Architectural Team, Inc.

Oconomowoc School Apartments
Oconomowoc, Wisconsin
In this $10.9 million transaction, Keystone Development, LLC and Alliance Housing Development, LLC teamed up on the adaptive re-use and historic rehabilitation of a former public middle school to create 55 affordable and market-rate apartments. With 55 different floor plans, each apartment is unique, labeled after the classroom that once occupied the space. The old school gym was converted to covered parking with the apartments above. The three-story brick building was constructed in 1922 and used as a school until 2008 when the school district closed it. The property then sat vacant and in disrepair for years. Funding sources for the project, completed in December 2013, included equity generated by federal and state historic tax credits and federal low-income housing tax credits, a permanent mortgage, soft loans, and a deferred developer fee. Great Lakes Capital Fund syndicated the federal tax credits and Cohen-Esrey Capital Partners syndicated the state tax credits.
Architect: Excel Engineers, Inc.

Schmidt Artist Lofts
St. Paul, Minnesota
Dominium, a Minneapolis-based developer, assembled a multitude of funding sources for this $122 million project, which involved the historic rehabilitation and adaptive re-use of industrial buildings occupying 401,000 square feet that were once part of the Schmidt Brewery complex, into 260 live/work residences for artists – 247 loft-style apartments and 13 rental townhomes. The housing units and common areas were created through the redevelopment of the former Brew House, constructed in 1882 and expanded by 20 subsequent additions, and the Bottle House, erected in 1915 and made up of four buildings. To create a unifying vision from all of these structures, the architects grouped the buildings into multiple zones with vertical silos allowing for accessibility to each floor of the Bottle House. They created horizontal connections between buildings and blended historic and new features together. Amenities for residents include studios for all types of artistic activities, state-of-the-art kilns, galleries, and a fitness center. The project, completed in June 2014, was funded by equity generated by federal and state historic tax credits and federal housing tax credits, a seller note, tax-exempt bonds, a permanent first mortgage, federal CDBG dollars, and several grants. The federal tax credits were syndicated by Alliant Capital, Ltd. and placed with MetLife, while the state historic credits were placed with U.S. Bancorp Community Development Corporation.
Architect: BKV Group

The Commons at Imperial Hotel
Atlanta, Georgia
In a $19.6 million transaction, Columbia Residential and National Church Residences created a state-of-the-art permanent supportive housing development for low-income persons through the acquisition and renovation of an eight-story historic former hotel building that had already been converted to single-room occupancy housing. The Imperial Hotel was constructed in 1911 and operated as a hotel until around 1980, when a developer purchased and closed it. The building was then vacant for about 10 years, until a local nonprofit purchased it and redeveloped it into 120 SRO units for low-income persons. By 2007, however, the development was in financial trouble, and was on the verge of foreclosure when an appointed receiver selected Columbia Residential and National Church Residences to rehabilitate and recapitalize the property. They renovated and reconfigured the structure into 90 larger, affordable SRO apartments, along with upgraded common spaces and amenities and a wide array of supportive services. The project, completed in January 2014, was funded by equity generated by federal historic tax credits and federal and state housing tax credits, city and state loans of federal HOME dollars, a federal grant, and grants from two foundations. The federal tax credits were syndicated by National Affordable Housing Trust and the state tax credits by Sugar Creek Capital.
Architect: Surber Barber Choate & Hertlein Architects PC

FINALISTS

Best Market-Rate or Mixed-Income Residential Project

Cambridge YWCA
Cambridge, Massachusetts
The YWCA in Cambridge renovated the residential and non-residential portions of its two existing buildings, dating back to 1910 and 1953, to preserve and upgrade 103 single-room occupancy housing units for low-income single women and commercial space. The $13.7 million project by the YWCA of Cambridge, completed in August 2013, involved renovating the housing units and common areas, upgrading accessibility, adding a second elevator, making energy efficiency improvements, and restoring the stucco and masonry exteriors and various historic features. Funding sources included equity generated by federal and state historic tax credits, multiple loans, city housing trust fund monies, weatherization funds, and developer equity. Rents on 88 of the housing units are subsidized by project-based rent subsidies. Since its inception in 1893, the YWCA Cambridge has advocated for women’s rights and provided affordable accommodations and support services for women.
Architect: Davis Square Architects

The Locks
Richmond, Virginia
Occupying 186,500 square feet, this $33 million mixed-income facility created by WVS Companies and Fountainhead Development contains 174 apartments located on a downtown site along the Haxall and Kanawha Canals. Completed in January 2013, the project involved the historic rehabilitation and adaptive re-use of four industrial buildings once used by the Reynolds Packaging Company to manufacture Reynolds Wrap aluminum foil. Before that the buildings were owned by the RJR Reynolds tobacco company. The buildings were constructed between 1895 and 1920 and used for different manufacturing activities until 2011, when the facility was shut down. The new development is close to offices, shopping, and restaurants, and the apartments feature large historic windows, stained concrete floors, and high ceilings. Half of the apartments are market-rate units and the other half are restricted to households earning no more than 80% or 120% of the area median income. Funding sources included equity generated by federal and state historic tax credits and a permanent mortgage. The federal tax credits were placed with Chevron TCI, Inc.
Architect: Walter Parks Architects

FINALISTS

Judges’ Awards

Best Historic Mill or Factory Renovation

  • Ames Shovel Works
  • Cider Gallery
  • Linwood Mill Apartments
  • Lykes Steamship District
  • Schmidt Artist Lofts
  • The Locks

Most Innovative Adaptive Reuse

  • Ames Shovel Works
  • Boyle Hotel – Cummings Block
  • Cider Gallery
  • Garfield Commons Apartment Homes
  • Linwood Mill Apartments
  • Lykes Steamship District
  • Oconomowoc School Apartments
  • Schmidt Artist Lofts The Warwick

Achievement in Sustainability

  • Ames Shovel Works
  • Cider Gallery Garfield
  • Commons Apartment Homes
  • Lykes Steamship District
  • The Commons at Imperial Hotel
  • The Warwick

Most Advanced Financial Structure

  • Ames Shovel Work
  • Cambridge YWCA
  • Cider Gallery
  • Lykes Steamship District
  • The Commons at Imperial Hotel