ABBINGTON AT GALLERIA MALL II - Centerville, GA GICH Letter of Support Application

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ABBINGTON AT GALLERIA MALL II - Centerville, GA GICH Letter of Support Application
ABBINGTON AT GALLERIA MALL II
        Centerville, GA

 GICH Letter of Support Application
          RE: DCA 9% LIHTC 2021

      REA VENTURES GROUP, LLC
       2964 Peachtree Road NW Suite 200,
               Atlanta GA 30305

   Contact: Matt Monroe, 404-250-4093 ext 709
         mattmonroe@reaventures.com

                 April 16, 2021
ABBINGTON AT GALLERIA MALL II - Centerville, GA GICH Letter of Support Application
Abbington at Galleria Mall Phase 2
                                 GICH Letter of Support Application
                                        DCA 9% LIHTC 2021

(1) Summary of Requests

Rea Ventures Group intends to submit a 2021 9% tax credit application for the second phase of the
project at Galleria Mall (Abbington at Galleria Mall II). In order to successfully complete our LIHTC
application due on May 21, 2021, Rea Ventures has requested the following confirmation letters from the
City of Centerville:
         a. Zoning Confirmation
         b. Utility Confirmation for Water
         c. Utility Confirmation for Sewer
         d. Letter of support from the GICH program

(2) Developer Background and Prior GICH Coordination

Since 2008, Rea Ventures Group has been highly successful in the tax credit program in Georgia and
several other states (NC, SC, AL, FL, TX) totaling 2983 LIHTC units. Please see Appendix A for the
full list of LITHC developments in Georgia and elsewhere. Please see Appendix B for a list of references
for past communities we have worked in.

Rea Ventures Group has been the recipient of several GICH support letters on prior developments. These
include Abbington at Galleria Mall I in Centerville (2020 LIHTC award), Elm Street Apartments in
Rockmart (2020 LIHTC award), Altoview Terrace in Rome (2018 LIHTC award), Oliver Place in Perry
(2014 LIHTC award), Edenfield Place rehabilitation in Millen (2011 LIHTC award), Woodvale
rehabilitation in Cordele (2011 LIHTC award), and Fern Point in Toccoa (2010 LIHTC award). Altoview
Terrace (Rome) would be our most recent GICH partnership and Oliver Place (Perry) and Woodvale
(Cordele) would be the two GICH community examples located closest to Centerville.

The principals of Rea Ventures have over 50 years of combined development experience. In that time,
they have developed over 4,608 units of multi-family housing (including 550 senior units); 134 single-
family homes and 5,699 beds of students housing throughout the Southeast. Currently under development
are two market rate residential redevelopment projects. One at Santa Rosa Mall in Mary Esther, FL
(Renaissance Santa Rosa) and a second redevelopment in partnership with the City of Greensboro, NC
(South Elm Street).

(3) Discussion of Proposed Project Timeline
a. The project timeline for Abbington at Galleria Mall II is summarized as follows:
    • Phase 1 of the property should be permitted and under construction by June 2021
    • May 21, 2021- Application for Phase 2 submitted to DCA for 9% LIHTC consideration
    • November/December 2021 – anticipated award announcement for Phase 2 from DCA.
    • January – July 2022- complete design and permitting for Phase 2
    • August 2022 – close on tax credit investment partnership and begin construction on
        Phase 2 – 80 units)
    • October-December 2023 – complete construction (14-month construction period)
    • October-December 2023 – begin lease-up
    • February-April 2024 – lease-up complete (assuming 15 units leased/month)
ABBINGTON AT GALLERIA MALL II - Centerville, GA GICH Letter of Support Application
Abbington at Galleria Mall Phase 2
                                 GICH Letter of Support Application
                                        DCA 9% LIHTC 2021

b. We believe that our plans for Galleria II (following the same design typology as phase 1) will fully
comply with the current zoning and designs standards within the ordinance. We do not anticipate any
further zoning or variance requests. However, we will continue to work collaboratively with the City of
Centerville staff while making design decision on phase 2, specifically as it relates to future road
alignments anticipated for the completion of the Centerville town square along Houston Lake Rd.

c. Within phase 1 of the development’s design we were able to achieve all zoning regulations and
applicable codes. As confirmed in our prior zoning confirmation letter from May 15, 2020 (Appendix C),
we are appropriately zoned for our intended use as C-2 (general commercial) which does allow R-3
Multifamily residential. We are currently completing permitting on phase 1 of the property but to date
have designed the property to achieve all R-3 standards related to parking, setbacks, height regulations,
density allocations and maximum lot coverage. This has been accomplished without rezoning or variance
requests. It is our full expectation that phase 2 will also achieve these standards. Furthermore, we have
committed to work collaboratively with the City of Centerville to ensure our façade treatments are
appropriate and pedestrian and landscape features will achieve the vision of the future town center.

This will be a Vb construction type with R-2 occupancy classification and will be protected through a full
fire sprinkler protection design (NFPA 13R). As with all new construction projects we will achieve the
International building code 2020 ed with Ga State amendments (2020) and current Georgia required
electrical, plumbing, mechanical, energy and fire and life safety codes. In addition, we shall achieve all
DCA architectural requirements, federal fair housing standards, federal ADA standards and all applicable
local codes.

In addition to state building codes, we will be going above and beyond in the energy code category by
committing to the EarthCraft green building standard. We have over a decade of success constructing
green building properties which enhance the tenants experience through energy and water efficiency,
improved indoor air quality design and low VOC product selection, and high efficiency heating/air.
(Appendix D)

(4) Abbington at Galleria Mall II Project Concept

Abbington at Galleria Mall II will provide an additional 80 rental apartments for families constructed
adjacent to the Houston County Galleria Mall. All units would be rented at below-market rents so that
families would not spend more than 30% of their income on rent (freeing up more disposable income for
other expenditures). The development will use income averaging to achieve an overall area median
income (AMI) affordability of 58% AMI or less, with rents targeted at 70% AMI, 60% AMI, and 50%
AMI. As a family development, seniors may also reside at the property even though most residents can be
expected to be working families. The development unit mix will comprise thirty-two (32) 1 bedroom/1
bathroom; thirty-two (32) 2 bedroom/2 bathroom; and sixteen (16) 3 bedroom/2 bathroom units in two
new construction buildings (three-story garden style walk ups).

The community center and common spaces will be incorporated into the apartment buildings designed to
mimic commercial store fronts to blend with the surrounding commercial land uses. The apartment
building will achieve the EarthCraft green building standard and be furnished with EnergyStar
appliances, washer/dryer hookups, low flow plumbing fixtures and high efficiency lighting and HVAC.
Site amenities will include a community garden, fitness center, educational services center, playground,
Abbington at Galleria Mall Phase 2
                                 GICH Letter of Support Application
                                        DCA 9% LIHTC 2021

business/computer center, and laundry facility. Security cameras would also be installed at key common
area locations. The property landscaping would be fully irrigated. Abbington at Galleria Mall II would
be professionally managed by Boyd Management and have on-site office and maintenance staff.

Rea Ventures intends to work closely with Centerville and the owners of Houston County Galleria Mall
to optimize the final design of the development. We will continue to work with the City so our final
design aligns with all required landscape, hardscape, and frontage requirements as outlined in the City’s
code and as desired to compliment the future village green concept. Landscape design will be coordinated
with Phase 1 and the City of Centerville’s overall design vision for the village green.

Renderings of the proposed phase 2 concept along with a site plan showing the connection between
phases can be found in Appendix E. In addition, we have included our site plan as an overlay with the
future Houston Lake Rd. concept designs. We hope this shows the extent to which our development has
accounted for future road alignments and pedestrian connections to Galleria Mall.

(5) Abbington at Galleria Mall Impact Statement

Abbington at Galleria Mall has been specifically designed to integrate with the City of Centerville’s
Town Center Master Plan and the design team has incorporated design feedback from the City into the
phase 1 plan. The key component of this plan includes Center Park with future road realignments to
create a village green along Houston Lake Rd., immediately adjacent to our multifamily site. The
development plans for Abbington at Galleria Mall have been designed to account for these pending
redevelopment efforts and will help facilitate pedestrian access to the new park and other municipal
facilities.

Abbington at Galleria Mall seeks to enhance both the physical and economic development within the
Centerville Town Center corridor. Physically, the property would connect the vacant northeast quadrant
of Houston County Galleria Mall with the adjacent City Center Park. Due to a full understanding of
grades after further survey and engineering studies and plotting these against the plans for a future road
alignment of Houston Lake Rd., the vehicle access was not feasible for completion with phase 1 of our
property. Essentially, any connection that would have worked now would have been unusable and
required demolition to accommodate the future road re-alignment. However, understanding the location
of the future road realignment we have made significant strides to adjust our development footprint to
accommodate the future alignment, without losing units or minimizing greenspaces for residents. In
addition, we have committed to making a pedestrian connection to Houston Lake Rd. This pedestrian
connection to the intersection of Gunn Rd/ Church St., will be completed with Phase 1 construction of our
development. In the second phase of our development, we will further enhance and extend greenspace
features that connect through the first phase and provide full access to the mall entrance. We hope the
greenspace concept further enhances the Galleria Mall connection to the Centerville Town Green project.

In addition to the design objects above, Abbington at Galleria Mall will achieve multiple goals defined in
the Houston County Joint Comprehensive plan. Below is a summary of how the project can advance the
plans goals:

(1) Increase affordable housing opportunities: Quality and Affordable Housing (p.12)

The utilization of tax credits will ensure a mix of affordable housing options in both phases helping
achieve the affordability goals stated in the Joint Comprehensive plan. Once complete the Abbington will
provide fully affordable, modern and energy efficient apartment homes with additional amenities for
Abbington at Galleria Mall Phase 2
                                 GICH Letter of Support Application
                                        DCA 9% LIHTC 2021

residents. The market analysis shows a high demand in the area for housing opportunities for low to
moderate income individuals and our strategy will help provide these opportunities for working families
and seniors. All units would be rented at below-market rents so that families would not spend more than
30% of their income on rent. The development will use income averaging to achieve an overall area
median income (AMI) affordability of 58% AMI or less, with rents targeted at 70% AMI, 60% AMI, and
50% AMI.

(2) Enhance development along a gateway corridor of Watson Blvd: Intown Corridors (p. 26)

Galleria Mall is along the identified Gateway corridor of Watson Boulevard. While our portion of the
property is behind the mall, transforming the underutilized acreage will enhance the goal of further
development along such corridors. We hope this brings more residents into an area with an abundance of
commercial and retail options while also transforming a section of underutilized mall property into a
vibrant new community along the gateway corridor.

(3) Activate greyfields for redevelopment and promote walkability: Emerging Town Center, (p. 32-33)

Upon completion of both phases, Abbington at Galleria Mall will include the redevelopment of 5.8 acres
of underutilized greyfields land. Currently, this area of the mall property includes undeveloped outparcels
and areas of parking that have been underused for a decade. We find the greyfields redevelopment pattern
to be beneficial to many interested parties as we are replacing the unused acreage with a vibrant and
modern new apartment community. Walkability will be enhanced by the village green concept connecting
through both phases of Abbington leading to the pedestrian connection to Houston Lake Rd. These
additional greenspace and pedestrian features will enhance the malls property and lead to more
walkability, connecting the mall to Centerville’s emerging town center plans. We believe this will
enhance the area as a new town center destination for Centerville and Houston County residents.
Abbington at Galleria Mall Phase 2
GICH Letter of Support Application
       DCA 9% LIHTC 2021

      Appendix A
  LIHTC Developments
Tax Credit
State   Award Date     Proj. #    Property Name                   Total Units
 AL       06/2017     2017012     Abbington Summit Pointe             52
 GA      08/29/18     2018-504    Abbington Reserve                  238
 GA       11/2017     2017-047    Abbington at Linwood                61
 GA       11/2017     2017-048    Abbington Manor                     92
 GA       10/2016     2016-060    Abbington Perimeter                 72
 GA      02/03/16     2015-066    Abbington at Haw Creek              48
 GA       11/2014     2014-023    Oliver Place                       100
 GA       10/2014     2013-046    Abbington Trail Apartments          60
 GA       01/2013      12-035     Goshen Crossing II Apartments       60
 GA       01/2013      12-036     Abbington Woods                     56
 GA       01/2012      11-024     Woodvale III Apartments             46
 GA       01/2012      11-025     Edenfield Place Apartments          48
 GA       02/2011      10-068     Fern Point Apartments               48
 GA       02/2011      10-070     Goshen Crossing Apartments          60
 GA       02/2010      09-055     Shoal Creek Manor Apartments        66
 GA       11/2008      08-033     Woodvale I Apartments               40
 GA       11/2008      08-025     Woodvale II Apartments              46
 GA       11/2008      08-031     Willow Apartments                   31
 GA       11/2008      08-032     Pine Terrace Apartments             48
 GA       11/2014      14-510     Fairfield I Apartments              18
 GA       11/2014      14-513     Heritage Manor Apartments           32
 GA       11/2014      14-524     Wildwood Apartments                 50
 GA       11/2014      14-507     Brier Creek Apartments              28
 GA       11/2014      14-516     Lafayette Gardens Apartments        20
 GA       11/2014      14-517     Meadow Wood Apartments              24
 GA       11/2014      14-509     Crestview Manor Apartments          25
 GA       11/2014      14-518     Pepperton Villas                    29
 GA       11/2014      14-508     Cox Creek                           25
 GA       11/2014      14-519     Pigeon Bluff Apartments             18
 GA       11/2014      14-512     Forest Ridge Apartments             24
 GA       11/2014      14-522     Tanyard Branch Apartments II        25
 GA       11/2014      14-511     Forest Pointe Apartments            25
 GA       11/2014      14-520     Pigeon Creek Apartments             42
 GA       11/2014      14-523     Warm Springs Apartments             22
 GA       11/2014      14-515     Hidden Creek Apartments             49
GA      11/2014         14-525         Woodland Terrace Apartments           30
 GA      11/2014         14-521         Pinebrook Apartments                  52
 GA      11/2014         14-514         Heritage Oaks Apartments              50
 GA      10/1992         92-010         Tanyard Branch Apartments I           24
 NC      08/2015       APP15-0172       Abbington Crossing                    80
 NC      08/2014       APP14-0161       Abbington Gardens Apartments          96
 NC      08/2014       APP14-0160       Abbington Grove Apartments            48
 NC      08/2013       APP13-0161       Abbington Oaks Apartments             72
 TX      07/2017         17058          Abbington Ranch                       48
 TX      07/2015         15071          Abbington Hill                        56
 TX      07/2015         15061          Abbington Vista                       48
 TX      02/2016         15159          Abbington Commons                     48
 TX      07/2014         14269          Abbington Glen                        72
 TX      07/2014         14271          Abbington Walk Apartments             56
 TX      07/2014         14266          Abbington Junction Apartments         56
 TX      07/2013         13115          Abbington Meadows Apartments          64
 TX      09/2012         11165          Playa del Pueblo                      96
                                                                            2724
 GA                      92-2012        Oak Forest Apartments (sold 2012)     41
 FL                    2009-203C        Woodridge Apts(sold 2018)             24
 FL                       89-025        Country Haven Apts (sold 2018)        43
 FL                     1993-034        Oak Terrace Apts (sold 2018)          18
 FL                     2004-513        Andrews Place II Apts (sold 2020)    120
 FL                     2003-511        Andrews Place Apts (sold 2020)       200
TOTAL                                                                        446
                                                                            3170

        Total Units Total LIHTC Units
AL           52              52
FL          405             405
GA         1873            1790
NC          296             296
TX          544             440
           3170            2983
Abbington at Galleria Mall Phase 2
                        GICH Letter of Support Application
                               DCA 9% LIHTC 2021

                               Appendix B
                           Project References

Abbington Manor (Acworth GA): Christine Dobbs, cdobbs@acworth.org ;
Director Community Development, City of Acworth, 4415 Senator Russell
Avenue Acworth, GA 30101; 770.974.3112

Altoview Terrace (Rome, GA): Hannah Phillips, hphillips@nwgha.com ;
Development Coordinator, Northwest Georgia Housing Authority; 326 West 9th
Street, Rome, GA 30165; 706-368-5726

Abbington at Linwood (LaFayette, GA): David Hamilton,
dhamilton@lafga.org ; City Manager, City of LaFayette, 207 South Duke Street
LaFayette, GA 30728; (706) 639-1501
Abbington at Galleria Mall Phase 2
GICH Letter of Support Application
       DCA 9% LIHTC 2021

        Appendix C
   Zoning Confirmation
Abbington at Galleria Mall Phase 2
GICH Letter of Support Application
       DCA 9% LIHTC 2021

        Appendix D
EarthCraft Green Building
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Abbington at Galleria Mall Phase 2
GICH Letter of Support Application
       DCA 9% LIHTC 2021

      Appendix E
   Concept Site Plans
ABBINGTON GALLERIA MALL
ABBINGTON CENTERVILLE - CONCEPTUAL RENDERING
CENTERVILLE, GA                                                                    5-6-2020

                                               MARTIN RILEY ASSOCIATES - ARCHITECTS, P.C.
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