Preserving History for Generations

Loring House

National Register of Historic Places Reference #85000612

May 22, 2017

Portland, ME – WISHROCK is thrilled to be celebrating our fifth Enterprise Green Communities Certified* project: Loring House. This historic structure, formerly Portland City Hospital, was a unique challenge, but revealed an even greater opportunity. This 4-story, 104-unit property underwent a complete transformation to preserve affordable, healthy housing and to lower utility costs. WISHROCK partnered with both Portland Housing Authority and Maine State Housing Authority to secure financing for critical building upgrades that directly improved lighting and air quality throughout the building. The project leveraged financing for cost-effective energy and water improvements, including new windows throughout and the installation of a high-performance indoor air exchange system. In addition, LED lighting was installed throughout the building.

New features were added to improve resident health and create a more vibrant community. A major change to the property was the replacement of carpet with resilient, hard surface flooring throughout the common areas and in units on the first two floors—reducing the presence of allergens. Air sealing tests also showed 50% or greater reduction in unit airflow. These measured changes have dramatically reduced air drafts—a large improvement in indoor comfort during Maine’s long winters.

Outside, 5,000 plantings were installed to compliment the surrounding evergreens. Historic birch trees were preserved along the building’s exterior too. Additionally, a new outdoor common space was created—a barbeque and picnic area—which allows residents another place to congregate, with a great view overlooking one of Portland’s oldest and largest trees.

“Loring House demonstrates the power of historic preservation and green development. This certification reflects a concerted commitment of many partners to keep sustainability and resident health in focus,” stated Trisha Miller, WISHROCK Chief Sustainability Officer. “We’re already seeing direct benefits in terms of energy cost savings too—a reduction in electricity consumption while adding new air handling equipment to improve air quality.”

At Loring House and across its portfolio, WISHROCK operates as a triple bottom line company. As a Better Building Partner, the company aims to reduce portfolio-wide energy use by 20 percent and to provide low-income communities with a healthy and sustainable living environment.

*Enterprise Green Communities Criteria and Certification promotes energy and water efficiency, healthy housing, and resource conservation. In order to receive this national certification, an affordable housing developer must meet a number of criteria involving integrative design, location and neighborhood fabric, site improvements, water and energy conservation, and green building materials.

CONTACT:

Trisha Miller, Chief Sustainability Officer

trisha.miller@wishrockgroup.com

202-294-3547

ABOUT WISHROCK:

The principals of WISHROCK have been working together to successfully create and maintain safe and supportive affordable housing communities for the past 10 years. WISHROCK is active in 9 states, where we focus on the acquisition and rehabilitation of existing affordable housing communities, often in difficult settings and challenging markets. We take great pride in preserving the affordability of the communities we purchase and redevelop. Our company is committed to improving the quality of the lives of our residents through dedicated empowerment services, and to operating at the forefront of sustainability.

SUPPORTING GREEN HOUSING FOR SENIORS

Towson, MD – WISHROCK celebrates Tabco Towers as its latest Enterprise Green Communities Certified* development. The company recently completed its first comprehensive green redevelopment serving low-income elderly and disabled residents. This 22 story, 200-unit property underwent a complete transformation to preserve affordable, healthy housing and to lower utility costs. WISHROCK partnered with the State of Maryland and BGE on critical building upgrades that directly improved energy efficiency. Through the Maryland Department of Housing and Community Development’s CIF Loan, the project leveraged over $750,000 in financing for cost-effective energy and water improvements, including a high-performance HVAC system. In addition, BGE incentives helped cover the costs of LED lighting and an efficient water booster pump.

Green building materials were incorporated throughout the design process to improve indoor air quality and resident comfort. Green resident engagement also played a critical role in the project. Both property managers and residents can influence making the building a healthier place to live. One aspect of this was hands-on training where residents had an opportunity to make their own healthy cleaning supplies.

 

“This national green building certification reflects our commitment; sustainability is always in focus. Connecting energy efficiency, water conservation, and resident health is a smart investment,” said Trisha Miller, WISHROCK Chief Sustainability Officer. “We’re already seeing direct benefits in terms of energy cost savings too—over $8,000 in just a few months.”

At Tabco Towers and across its portfolio, WISHROCK operates as a triple bottom line company. As a Better Building Partner, the company aims to reduce portfolio-wide energy use by 20 percent and to provide low-income communities with a healthy and sustainable living environment.

 

*Enterprise Green Communities Criteria and Certification promotes energy and water efficiency, healthy housing, and resource conservation. In order to receive this national certification, an affordable housing developer must meet a number of criteria involving integrative design, location and neighborhood fabric, site improvements, water and energy conservation, and green building materials.

 

CONTACT:

 

Trisha Miller, Chief Sustainability Officer

trisha.miller@wishrockgroup.com

202-294-3547

ABOUT WISHROCK:

The principals of WISHROCK have been working together to successfully create and maintain safe and supportive affordable housing communities for the past 10 years. WISHROCK is active in nine states, where we focus on the acquisition and rehabilitation of existing affordable housing communities, often in difficult settings and challenging markets. We take great pride in preserving the affordability of the communities we purchase and redevelop. Our company is committed to improving the quality of the lives of our residents through dedicated empowerment services, and to operating at the forefront of sustainability.

What $500 Can Do

Children’s Saving Accounts

Over 1.3 million American children born each year – and more than half of minority children – are born into families with negligible savings to invest in their futures. Children’s Savings Accounts (CSAs) have the potential to expand educational and economic opportunity for low- and moderate-income families. Research indicates that low- and moderate-income children with college savings of just $500 or less are 3 times more likely to enroll in college and 4 times more likely to graduate! Moreover, family ownership of assets can give children a transformative sense of possibility and hope for the future.

CFED is engaged in a range of strategies to support the development and growth of CSA programs and asset-building opportunities for all children in the United States through large-scale programs, innovative partnerships and effective public policy solutions. Specifically, CFED aims to help integrate CSAs into existing systems serving children and youth, including municipalities, schools, early childhood development programs, college readiness programs, affordable housing and similar networks.

Please read more by using this link: http://cfed.org/programs/csa/

 

MD lawmakers eye energy efficiency boost by Timothy B. Wheeler

Hogan administration had opposed raising goal

Trisha Miller of WISHROCK, an affordable housing developer, explains the benefits of Maryland's EmPOWER energy efficiency incentive program at a press conference in Baltimore. (Timothy B. Wheeler)
Trisha Miller of WISHROCK, an affordable housing developer, explains the benefits of Maryland’s EmPOWER energy efficiency incentive program at a press conference in Baltimore. (Timothy B. Wheeler)

Even as Maryland lawmakers face a decision on whether to try to override Gov. Larry Hogan’s veto of a renewable energy measure, another potential confrontation is brewing over how involved the state should be in helping consumers reduce electricity usage.

Leaders of the General Assembly have scheduled votes this week in the House and Senate on whether to override Hogan’s veto of legislation passed overwhelmingly last year that would increase Maryland’s commitment to getting power from renewable sources such as wind turbines and solar arrays.Lawmakers last year approved a bill that pledged the state to get 25 percent of its energy from renewable sources by 2020 — up from the current goal of 20 percent by 2022. Hogan vetoed it, calling it a de facto tax on electric ratepayers because they might have to subsidize more expensive solar or wind power.

Click the link to read the entire article: http://www.bayjournal.com/blog/post/md_lawmakers_eye_energy_efficiency_boost

GAINING GROUND: ENERGY EFFICIENT HOUSING IN MARYLAND

windsor-news-article

December 15, 2016

Edgewood, MD – Today, WISHROCK celebrates Windsor Valley Apartments as its latest Enterprise Green Communities Certified* development. Windsor Valley is a multifamily affordable housing community in Edgewood, Maryland. This 291-unit community benefited from a complete rehabilitation, which lowered utility costs and preserved affordable, healthy homes for families. WISHROCK partnered with the State of Maryland and BG&E on high-performance building upgrades that directly improved energy efficiency. Through the Maryland Department of Housing and Community Development’s Multifamily Energy Efficiency and Housing Affordability-EmPOWER program, the project was able to leverage over $1 million in financing for cost-effective energy improvements, such as high efficiency HVAC equipment, water heaters, lighting, and insulation.

“With rising energy costs, low-income residents face more and more of a financial burden in securing safe, affordable housing. Integrating sustainable elements into affordable housing is one way that WISHROCK is able to help stabilize and reinvigorate communities across the country,” said Bryan Shumway, Director of Development.

At Windsor Valley and across its portfolio, WISHROCK is fulfilling its commitment to increasing energy and water efficiency and cost savings, as well as providing low-income communities with a healthy and sustainable living environment.

*Enterprise Green Communities Criteria and Certification promotes energy and water efficiency, healthy housing, and resource conservation. In order to receive this national certification, an affordable housing developer must meet a number of criteria involving integrative design, location and neighborhood fabric, site improvements, water and energy conservation, and green building materials.

CONTACT:

Trisha Miller, Sustainability Director

trisha.miller@wishrockgroup.com

202-294-3547

ABOUT WISHROCK:

The principals of WISHROCK have been working together to successfully create and maintain safe and supportive affordable housing communities for the past 10 years. WISHROCK is active in 9 states, where we focus on the acquisition and rehabilitation of existing affordable housing communities, often in difficult settings and challenging markets. We take great pride in preserving the affordability of the communities we purchase and redevelop. Our company is committed to improving the quality of the lives of our residents through dedicated empowerment services, and to operating at the forefront of sustainability.

Skyline Apartments Designated as Blighted and Substandard

skyline

BY Michael Shively | November 21, 2016

The Norfolk City Council unanimously approved a study on Monday night that declares the Skyline Apartment building and surrounding area as blighted and substandard. This gives the developer an opportunity to use tax increment financing (TIF) to improve the property.
Community Planner for Northeast Nebraska Economic Development District Jan Merrill spoke to the Council and recommended the study be approved.

She referenced the study which details problems with the Skyline Apartments building including out dated heating and cooling systems, fire suppression systems and living quarters. The building does not meet current ADA and UFAS codes.

Fire Chief Scott Cordes says it is a big deal that there isn’t an automatic fire suppression system in a building that houses so many people. He praised the council and the developer for their efforts in addressing the fire safety concerns.

“It brings incredible comfort to us to know that, should this occur, that that property is going to be protected in a manner that it hasn’t been for all these years,” Cordes said. “So it’s a substantial gain to where we are to where we would be going.”

City Councilman for Ward 3 and Mayor-Elect Josh Moenning lives directly next to Skyline Apartments and on property included in the blight and substandard study. This declaration does not affect his house in any way. Moenning says the developer, Seldin Company* has been straightforward with the city since they began talks about two years ago. Seldin* has indicated an interest to continue the building’s mission of providing affordable housing for the low income elderly population. Moenning says this potential redevelopment is consistent with the goals of TIF.

“(TIF) provides a development incentive for older properties, redevelopment in areas of the community that might not see it otherwise,” Moenning said.

Seldin* has claimed they will invest as much as $65,000 into each living unit as part of the redevelopment process.

*Wishrock is the Developer; Seldin (listed as the Developer) is our management company

Chattanooga City Council approves tax break to save Jaycee Tower

 

Jaycee Tower, located at 500 W. M.L. King Blvd.

Photo by Contributed Photo /Times Free Press.

The Chattanooga City Council has approved a 41-year tax break for a developer to completely overhaul one of the Jaycee Towers and keep its doors open for the low-income seniors who live there.

Jaycee Future Corporation, the nonprofit organization that built the towers in 1970, can no longer make ends meet for this particular building, board member Doug Chinery said. Two weeks ago he told council members the agency had tried unsuccessfully for years to find a buyer to revamp the property at 500 W. M.L. King Blvd.

Officials with Wishrock Housing Partners & Investment Group of Portland, Maine, said they can only take on the project with a long-term tax break.

In a recent meeting attended by more than a dozen Jaycee Towers residents, the council voted 7-0 for a payment-in-lieu-of-taxes agreement that calls for the Chattanooga Housing Authority to take ownership of the 46-year-old property and lease it to the developer. Council members Carol Berz and Larry Grohn were absent.

Councilman Chris Anderson, who is chairman of the council’s Economic and Community Development Committee, praised input from citizens, city administrators, the developer and his colleagues for making a “better PILOT process and better PILOT application.”

Before the vote, City Attorney Wade Hinton confirmed a few tweaks to the agreement made at council members’ requests, including a clause calling for mandatory adjustment of the agreement’s terms if the developer fails to live up to its promise to provide good and affordable housing for seniors.

Councilman Chip Henderson admitted he had wrestled with the situation.

“This is a project that has kept me up at night,” Henderson said. “I don’t feel good about a PILOT this council — with the possible exception of Councilman Anderson — won’t even see the end of, but I don’t feel good about turning out all the residents we have here this afternoon.”

Chinery said that, without the tax break, the tower’s residents would likely be put on the street in a couple of months.

Wishrock developer Penn Lindsay told council members his company would make a “full and substantial renovation,” including replacing the roof, extensively remodeling all residential units and improving common areas.

“We aren’t afraid to tackle the most challenging of properties,” he said.

Wishrock will reduce Jaycee Towers’ 190 apartments to 175 by combining some smaller units to make larger ones.

The renovated tower will offer 78 efficiencies, 67 one- bedroom units and 30 one-bedroom-and den combos.

Rents will range between $695 and $880, including utilities, according to the developer.

Lindsay said most of the current residents put 30 percent of their total incomes into rent, with governmental assistance making up the difference.

Contact staff writer Paul Leach at 423-757-6481 or pleach@times freepress.com. Follow on Twitter @pleach_tfp.

Redeveloping Green in Maryland

timbercroft-townhomes-opening-1Posted By on Sep 6, 2016

When Wishrock set out to redevelop Timbercroft Townhomes just northwest of Baltimore, it had multiple, challenging goals. It was committed to keeping the community – 284 units spread over more than 20 buildings – affordable. It had to meet the previous owner’s tight timeline for selling. And it wanted to give residents green and healthy homes.

Redevelopment Challenges – and Successes

To create an environmentally friendly community, Wishrock turned to the Enterprise Green Communities Criteria. To receive this national certification, which aligns with Wishrock’s commitment to sustainability, an affordable housing developer must meet multiple criteria involving integrative design, location and neighborhood fabric, site improvements, water and energy conservation and green building materials.

Other partners played major roles in the redevelopment. Wishrock worked with design and development teams at Whiting-Turner, The Architectural Team and New Ecology to plan and complete a 14-month renovation at Timbercroft. Through a strong partnership with Maryland Department of Housing and Community Development and unwavering cooperation from Baltimore County, Wishrock was able to put together an offer that met the seller’s schedule, preserve the development’s affordability and create a realistic timeline. The development received support from TD Bank, which invested $12.8 million in Low-Income Housing Tax Credit equity in partnership with Enterprise Community Investment, as well as Citibank, the U.S. Department of Housing and Urban Development, Fannie Mae, the State of Maryland, Baltimore Gas & Electric, Baltimore County and other financial and regulatory partners.

 

Please click this link to see the entire article posted in Enterprise Housing Horizon: http://blog.enterprisecommunity.com/2016/09/wishrock-timbercroft-townhomes

 

WISHROCK CELEBRATES GREEN AFFORDABLE HOUSING COMMUNITY

Timbercroft Ribbon Cutting  Tuesday, August 23, 2016

Owings Mills, MD – Today, Wishrock celebrates its first Enterprise Green Communities Certified* development, Timbercroft Townhomes. Timbercroft is a multifamily affordable housing development in Owings Mills, Maryland, which was recently redeveloped —

resulting in reduced energy use, improved building durability, and a healthier living environment. Wishrock received support from the State of Maryland and BG&E for building upgrades to improve energy efficiency, and proudly participated in the “EmPOWER Maryland” initiative. Together with the project’s design and development team, financial partners, public officials, and residents, Wishrock will host a ribbon cutting ceremony to celebrate the project’s success.

At Timbercroft and across its portfolio, Wishrock is fulfilling its commitment to reducing consumption and increasing energy and water efficiency, as well as providing low-income communities with a healthy and sustainable living environment.

*Enterprise Green Communities Criteria and Certification promotes energy and water efficiency, healthy housing, and resource conservation. In order to receive this national certification, an affordable housing developer must meet a number of criteria involving integrative design, location and neighborhood fabric, site improvements, water and energy conservation, and green building materials.

Timbercroft Press Release

CONTACT:

Trisha Miller, Sustainability Director

trisha.miller@wishrockgroup.com

202-294-3547

ABOUT WISHROCK:

With nearly 100 years of combined experience developing affordable housing, the principals of Wishrock have successfully created and maintained safe and supportive affordable housing communities. We are active in 11 states, where we focus on the acquisition and rehabilitation of existing affordable housing communities, often in difficult settings and challenging markets. We take great pride in preserving the affordability of the communities we purchase and redevelop.  Our company is committed to improving the quality of the lives of our residents through dedicated empowerment services, and to operating at the forefront of sustainability.

 

The Forefront of Sustainability, Affordable Housing News

“The Wishrock Housing Group is a national housing investor and developer focused solely on acquisition and rehabilitation.

The firm benefits affordable and workforce housing communities by providing much-needed upgrades to properties, including improved water and energy efficiency. These efforts make the Wishrock Housing Group a dedicated player when it comes to sustainability and adding to the health and vitality of affordable housing throughout the country.”

Thus begins the article featured in Affordable Housing News in the Summer 2016 publication. Please click on the following link to take you to the full issue: http://www.affordablehousingnews.com/issues/summer2016/   The article begins on page 100.