NC Affordable Housing Conference Thank You, Outgoing Board

Volume 22, Issue 3
CICCAR NEWSLETTER
July 17, 2012
Inside this issue
The NC Affordable Housing Conference........................................1
Outgoing and New Board Members............................................1
Mebane Mill Grand Opening........2
Loan Closings Report.................2
Developer Spotlight - Evergreen
Construction Company...............3
Development Update Report.....4
2012-2013 CICCAR Board
Members.....................................4
NC Affordable Housing Conference
Join us for the 2012 North Carolina Affordable Housing Conference at
the Raleigh Convention Center, September 27-28, 2012.
This conference is hosted by Community Investment Corporation of the
Carolinas, the North Carolina Housing Finance Agency and the North
Carolina Housing Coalition. A big thank you to all of the companies who
have already committed to sponsor: Alliant Capital, Bank of America Merrill Lynch, BB&T, Bernard Robinson & Company LLP, Blanco Tackabery,
CAHEC, Carolina Bank, Dixon Hughes Goodman LLP, Enterprise, Federal
Home Loan Bank of Atlanta, Fifth Third Bank, First Bank, First Citizens
Bank, KMW Builders, NC Housing Search, NEF Inc, North State Bank,
Novogradac & Company LLP, Parker General Contractors LLC, PNC
Bank, The Pendergraph Companies, Progress Energy, Raymond James Tax
Credit Funds Inc, RBC Capital Markets, Red Stone Equity Partners, Southern Bank & Trust, SunTrust Bank, TD Bank, Tightlines Designs/Maurer Architecture, VantageSouth Bank, Weaver Cooke Construction LLC, WeaverKirkland Housing LLC and Wells Fargo. Registration is now open! Visit
www.nchousingconference.com for more information and to register for the
conference!
Thank You, Outgoing Board Members
CICCAR would like to say thank you to the Board members whose terms
expired in June. A special thank you to outgoing members Steve Young,
Roanoke Rapids Savings Bank and Jerry Ocheltree, First Bank. Your
commitment to CICCAR has been greatly appreciated.
Welcome, New Board Members
CICCAR welcomes our new board members: Martyn (Marty) Pell, First
Community Bank, High Point; Lee Harriss Roberts, Piedmont Community
Bank Holdings, Inc., Raleigh; and Ron Black, Bank of Oak Ridge, Oak
Ridge. We welcome each of you and thank you for making a commitment
of your time to CICCAR. Congratulations to John Engel of Carter Bank
& Trust, Martinsville, VA, for accepting the role of Vice-Chairman of the
CICCAR Board.
Mebane Mill Lofts Grand Opening Celebration
Shellie Lempert and John Bocciardi attended the Grand Opening Celebration for Mebane Mill
Lofts located in Mebane, NC, on May 10, 2012. Featured speakers included Mayor Glendel
Stephenson and Reverend Terry Farmer of the First Baptist Church in Mebane. Mebane Mill
Apartments, a 75 unit adaptive/reuse family development, includes a mix of one-bedroom, twobedroom and three-bedroom units. Site amenities include a covered picnic area, a management
office, a fitness center and a computer lab. Mebane Mill Lofts Apartments is a short walk from
downtown Mebane. The site is being managed by Landmark Property Management. CICCAR
will close the permanent first mortgage on Mebane Mill Lofts within the next quarter.
Loan Closing Report
We anticipate the following loans will close in the next three months:
Pool
Pool
Pool
Pool
Pool
Pool
Pool
232, Mebane Mill Lofts, Mebane, NC
256, Ashebrook Park (Wessley Landing), Wilson, NC
266, Rock Pointe Apartments, Rock Hill, SC
267, Madison Station Apartments, Columbia, SC
268, Bay Pointe Apartments, Myrtle Beach, SC
276, Carriage Hill Apartments, Lumberton, NC
282, Heatherwood Apartments, Anderson, SC
Recent loan closings:
Loan #231234, Glenwood Hills Apartments, Morganton, NC, closed on April 26, 2012 for $1,010,000
Loan #253235, Villas at Horizon Village, N. Charleston, SC, closed on May 16, 2012 for $1,571,900
Loan #257236, Scottish Glen II Apartments, Laurinburg, NC, closed on May 16, 2012 for $401,619
Loan #233237, Martinsville Lofts, Martinsville, VA, closed on May 22, 2012 for $1,086,133
Loan #258238, Chapel Ridge Apts, Roanoke Rapids, NC, closed on June 25, 2012 for $205,509
Loan #261239, Mingo Creek Apartments, Knightdale, NC, closed on July 2, 2012 for $1,471,252
Cancelled Loan:
Pool 275, Parker at Cone Apartments, Greenville, SC
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Developer Spotlight
Evergreen Construction Company
Lyle D. Gardner founded Evergreen Construction Company in 1978 with
the belief that intelligent, attractive design could co-exist with affordable
housing. He has been involved in the development and construction of
over 44 FmHA, HUD and tax credit projects (over 1,500 units). Evergreen
Construction Company has maintained a steady track record of designing,
building and managing quality multifamily and senior rental properties
across North Carolina.
Mingo Creek Apartments, Knightdale, NC
Sandy Ridge Apartments, Wendell, NC
Lions Spring Apartments, Clayton, NC
Autumn Trace Apartments, Raleigh, NC
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Development Update Report:
Pool #
223
232
242
256
263
264
265
266
267
268
269
270
272
273
274
275
276
278
279
280
281
282
283
285
286
287
288
289
Project Name
Eno Haven
Mebane Mill Lofts
Powell Spring
Ashebrook Park
Willow Oak Run
May River Village
Autumn Oaks
Rock Pointe
Madison Station II
Bay Pointe II
Forest Park Crossing
Lanier Pointe II
Port Royal
Colony Place
Woods at Avent Ferry
Parker at Cone Village
Carriage Hills
Auburn Trace II
Jobbers Overall Ellsworth Commons
Summerville
Heatherwood
Chestnut Place
The Cottages at Azalea
The Highlands
Hampton Pointe
Westgate Senior Laurel Crossing
Location
Hillsborough, NC
Mebane, NC
Pittsboro, NC
Wilson, NC
Charlotte, NC
Bluffton, SC
Sanford, NC
Rock Hill, SC
Columbia, SC
Myrtle Beach, SC Kannapolis, NC
Shelby, NC
Beaufort, SC
Fayetteville, NC
Holly Springs, NC
Greenville, SC
Lumberton, NC
Burlington, NC
Lynchburg, VA
Greenville, NC
Summerville, SC
Anderson, SC
Sumter, SC
Lancaster, SC
Goldsboro, NC
Hillsborough, NC
Leland, NC Knightdale, NC
Stage of Completion
Construction complete - leasing the units - anticipate closing Sept
Renovation complete - should close in July
Construction complete - just started leasing
Construction complete - leasing the units
Construction complete - leasing the units
Construction complete - leasing the units
Construction complete - leasing the units
Construction complete - leasing the units
Construction complete - leasing the units
Construction complete - leasing the units
Construction 60% complete
Construction complete - leasing the units
Construction 50% complete
Renovation 75% complete
Construction 100% complete - waiting on c/o’s
Project no longer needs CICCAR funds
Construction complete - leasing the units
Construction is 60% complete
Renovation is 60% complete & new building is 55% complete
Construction 20% complete
Construction 30% complete
Anticipate closing in August
Construction loan closed in June
Closing Equity and construction loan
Construction is just under way
Construction loan closed in June
Closing Equity and construction loan
Closing Equity and construction loan
CICCAR 2012-2013 Board Members:
Paul Kennedy, CICCAR Chairman, Senior Vice President, Carolina Bank, Greensboro
John J. Engel, CICCAR Vice-Chairman, Vice President, Carter Bank & Trust, Martinsville, VA
Ron Black, President & CEO, Bank of Oak Ridge, Oak Ridge
Charles Davis, Senior Vice President, TD Bank, Asheville
Matt Davis, SVP/Chief Credit Officer, Paragon Commercial Bank, Raleigh
Scott Farmer, Director of Rental Assets, NC Housing Finance Agency, Raleigh
Frank Gavigan, President and CEO, Premier Commercial Bank, Greensboro
Rudy Matthews, President & CEO, Kingstree Federal Savings, Kingstree, SC
Edward McKelvey, CRA Officer/Community Development Specialist, First Federal, N. Charleston, SC
Martyn (Marty) Pell, Executive Vice President, First Community Bank, High Point
Lee Harriss Roberts, Managing Director, Piedmont Community Holdings, Inc, Raleigh
Ann Winstead, President & CEO, Tarboro Savings Bank, Tarboro
Cindy Wiggins-Tiede, Executive Vice President, CICCAR, Raleigh
Thad Woodard, President and CEO, NC Bankers Association, Raleigh
Community Investment Corporation of the Carolinas
3601 Haworth Drive. Raleigh, NC 27609
(P.O. Box 19999 Raleigh, NC 27619-9916)
Phone: 800-662-7044
Fax: 919-781-2155
Shellie Lempert
Email: [email protected]
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