National Equity Fund

Cranberry Commons

Plymouth, MA


Statistic
Jobs Created: 18
Jobs Year One: 75


Cranberry Commons at Redbrook will be a 62-unit affordable housing community for seniors 62+ to be developed and managed by the Grantham Group in partnership with the A.D. Makepeace Company (ADM), the Town of Plymouth, MA’s Affordable Housing Trust (AHTF), and Community Preservation Committee (CPC).

Cranberry Commons Senior Housing will be a new construction, three-story L shaped elevator building located in the Redbrook Master planned community in Plymouth MA. The building’s design will be farmhouse-inspired and will be clad in vinyl siding. All the units will be one-bedroom, one bathroom apartment-style flats and will comply with EOHLC’s senior design guidelines. There will be 8 30% AMI units with Section 8 PBV assistance, 5 30% AMI units with MVRP assistance, 30 60% AMI units, and 19 80% AMI units. The 80% units are UW at rents with 31% below market, and treated as market units for the purposes of LIHTC. The 80% AMI limitation comes from the soft lender requirements. Units will be finished with quality, long-lasting materials and have central air conditioning. They will also be pre-wired for telephone and cable hookups and common area wireless internet will be offered as an amenity. Each unit will include its own washer and dryer. Each unit will have a number of accessible features, including roll-in showers; ADA accessible toilets; lever door handles; lever faucets in bathrooms and kitchen sinks; and contrasting colors for changes in elevation. The landlord will pay for all utilities on the 13 30% AMI units, and the remaining 49 units will be responsible for their own utilities except for water, sewer, and trash. This will be a solar all-electric project with a gas back-up generator.

Building amenities at the Subject Property will include an indoor common living room on the 1st floor, a flexible office space (can be used by service providers) and storage areas, a multipurpose room on the second floor and fitness room on the third floor. There will also be trash and recycling rooms on each floor. The corridors and doors in each unit will be wide enough for wheelchair access. Outdoor amenities will include a patio and some raised garden beds. There will be railings along both sides of the corridors of the building. The Subject Property will also offer 65 surface parking spaces in an on-site parking lot, which will be first come first serve and free of charge to residents. As currently planned, the building will be pet-friendly, allowing small dogs and cats at no additional cost.



Project Details:

Completed:
2027
Population Served:
Elderly
Total Units:
62
Mix of Residences:
1 Bedroom (62)
Net Equity:
10.34M
Credit Type:
9%
Other Credits:
Solar
Total Project Costs:
30.93M
Developer(s):
Grantham Group, LLC

View More Senior Developments

West 108th Street Apartments

West 108th Street Apartments

New York, NY

Situated on the island of Manhattan, WSFSSH at West 108 is a new, two-condo construction. This development takes to heart the idea of New York City being the “Greatest City in the World” for everyone – not just those with means and opportunity – by providing housing to individuals experiencing homelessness and low-income families in Manhattan’s Upper West Side, a very expensive area with an extreme affordable housing shortage.

Co-located with West Side Federation for Senior and Supportive Housing's (WSFSSH) 110-bed shelter for seniors, Valley Lodge, there are 199 affordable housing units at the new construction at West 108. Of the 199 affordable units (1 reserved for the superintendent), 119 are supportive housing studios for the formerly homeless and 79 are reserved for low-income families. Of the 79 that are reserved for low-income families, 53 units are 1-bedroom, 18 units are 2-bedroom and 8 units are 3-bedroom homes. All units are at either 30 percent or 60 percent of the Area Median Income (AMI).

While all units are set to those AMI percentages, this doesn’t reflect the reality of how low-income the building population truly is and how WSFSSH at West 108 helps combat homelessness. For the supportive studios, between project-based rental assistance and underwritings19 units to only 30 percent of Social Security, most of the supportive residents have an income at or close to just the Social Security level. In addition, a lot of residents coming into the low-income family units have tenant-based rental assistance vouchers, which enables them to pay rents at 60 percent AMI, but their actual income is much lower than that level.

Through the New York City 15/15 Supportive Housing Initiative, the team set aside 60 units to support seniors with serious mental illness and/or substance use disorders. Through the NYS Empire State Supportive Housing Initiative (ESSHI), 40 units are reserved for seniors with declining health who need mobility support and general assistance. Finally, the NYC Department of Housing, Preservation and Development’s Homeless Placement Services, referred 19 homeless individuals (of any age) from the shelter system into permanent apartments at WSFSSH at West 108.

With WSFSSH as the developer, NEF invested over $33.5 million in LIHTC equity.

Return to Developments