Wednesday, July 2, 2008

Wayland VillageSenior Housing

Wayland Village Senior HousingThe Wayland Baptist Church Community Development Corporation (WBC CDC) proposes to build a 90-unit housing development for seniors at the location of 3020-3026 Garrison Boulevard. This proposed development, known as Wayland Village Senior Housing, is a $10 million project financed through the Low Income Housing Tax Credit (LIHTC) program. Opening is scheduled for 2010.
The WBC CDC is fully behind this project with over a million dollars invested in demolition, site control and pre-development activities.

Based on a 2007 market feasibility analysis conducted by Lipmann, Frizzell & Mitchell, LLC., the Wayland Village project lies within the Forest Park/Howard Park PMA. The senior population represents one-third of the area households with incomes below the area median. There is only one existing senior housing facility located approximately 3 miles away with a waiting list several years long. The feasibility analysis concluded that construction of 90 units would meet the requirements for 9% tax credits and that the market would support senior households with incomes ranging from 30% to 60% of the area median income.

WBC CDC received overwhelming support from all neighborhood and community associations as well as collaborations and partnerships with Coppin State University and other community agencies and institutions that agreed to join with us in this endeavor. We are actively engaged in pursuing the feasibility of including a senior center within Wayland Village as a way to provide supportive services to the community at large and enhance quality of life. Currently, the only senior center, which is several miles away, is under-serving the community due to lack of capacity.

Garrison Boulevard is the gateway that runs through the Forest Park/Howard Park communities. Wayland Village, which will be built on Garrison Boulevard, will serve as the gatekeeper in initiating, developing and sustaining the on-going neighborhood revitalization.

No comments: