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Pennrose and Kingsport Housing & Redevelopment Authority Break Ground on Kingsport Portfolio RAD Conversion
January 22, 2019
Pennrose and Kingsport Housing & Redevelopment Authority (KHRA) celebrated the groundbreaking of the Kingsport portfolio RAD conversion, a rehabilitation of five former public housing sites in the Midtown neighborhood of Kingsport, Tennessee. The revitalization builds on the comprehensive Transformation Plan developed by the City of Kingsport, KHRA, and community members. It includes Frank L. Cloud, Tiffany Court, Holly Hills, Dogwood Terrace, and Charlemont apartments.
Speakers at the event included Esther Rodolphe, Board Chair, Kingsport Housing & Redevelopment Authority, Terry Cunningham, Executive Director, Kingsport Housing & Redevelopment Authority, Maria Catron, Deputy Director, Kingsport Housing & Redevelopment Authority, John Clark, Mayor, City of Kingsport, Katie Moore, Community Outreach Liaison, Tennessee Housing Development Agency, and Mark Straub, Regional Vice President, Pennrose, LLC.
“We are thrilled to have been selected by KHRA to partner on this exciting effort that will benefit the community of Kingsport for many years to come,” said Mark Straub, Regional Vice President at Pennrose. “The Transformation Plan will significantly enhance quality of life in these residential sites and transform the neighborhoods around them for the better.”
In total, the initiative will revitalize 381 units throughout the five development sites. Upgrades will be made to interiors and exteriors, including kitchen and bath improvements, new flooring and finishes, upgrades to HVAC systems, new energy efficient features, and upgraded appliances. Construction is slated to be completed in the spring of 2020.
“With a proven commitment to developing high-quality affordable housing in Tennessee, Pennrose was the ideal partner for this rehabilitation process,” said Terry Cunningham, Executive Director at Kingsport Housing & Redevelopment Authority. “We are confident the redevelopment will benefit our City’s families and seniors, as well as bring additional value to the broader community as a whole.”
“THDA understands how important this project is for the entire city Kingsport, and that's why we decided to step up and provide the funding that we did," said Ralph Perrey, Executive Director at Tennessee Housing Development Agency. "Our overall commitment of $34 million in tax credits, bonds and grants shows not only our support for this project, but our confidence in KHRA and their efforts to make the city a better place to live for all of its citizens.”
KHRA will serve as Property Manager for the redeveloped units. Capstone Building Corporation and BLOC Global Services Group will provide construction management services. Although Capstone will be soliciting bids in order to maximize the use of local contractors to perform the work. The project was designed by Michael Brady, Inc and engineering services are delivered through Barge Design Solutions.
Funding for the project is provided by the U.S. Department of Housing and Urban Development’s Rental Assistance Demonstration program, Project-Based Voucher Program; Tennessee Housing Development Agency (THDA) National Housing Trust Fund, TN Housing Trust Fund and Federal Low-Income Housing Tax Credits; the City of Kingsport; and KHRA.