Studio Buildout

The Project

Convert previous academic spaces (6,300 sq/ft) on the former Crossroads Campus (now called Mayowood Acres) to 17-studio apartments (Phase 1 = 9 studios; Phase 2 = 8 studios).  Projected rents of $600 (including utilities &internet) make the units affordable to folks just below 40% AMI.  The units would be transitional in nature, with tenants stays up to 2-years in most cases, while they finish education, employment training, or establish a solid employment record.  A few of the units may also be used for long-term housing for hard to house individuals (PATCH Program, various homeless, others).

The Need

The need for simple, clean, and well-done efficiency apartments continues to be in high demand.  On the current Bear Creek Campus (Mayowood Acres), operated for the past two years as an affordable housing complex, demand has outpaced supply.  There are waiting lists for all 1BR units, as well as 4BR units.  There are 76 beds of "group housing" that operate near capacity all year long as well.  The group housing is highly transitory in nature, serving college students to people coming out of drug and alcohol recovery.

Project Costs

Phase 1 of the project, builds out 9 units in the former Library building.  Phase 2 will cover the Music Building, which is a near identical floor plan, with a little less space (8 units will be built out there).  Combined costs for both buildings will be $850,000 ($450K Phase 1 and $400K Phase 2).  Currently, There has been $185,000 committed towards Phase 1, leaving a $265,000 fundraising need.