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Home My WebLink About6724 1815 NW 1st CT_Statement of WorkUPTURN GROUP CASA MIA APARTMENTS The Overtown area of Miami is comprised of 1950s and 60s post-war housing. Some single family homes but mostly concrete multifamily developments ranging from 4 unit to 20 unit structures. Most of the rental housing stock available is mainly owned by slumlords or absentee owners who do not address the dilapidated conditions. Some buildings have been sold or flipped several times (including ours) over the past years with no efforts of rehabilitation. The cost of land and construction has risen, and the opportunity of development is expanding to this area- leaving the current residents most vulnerable to displacement. Upturn Group wants to rehabilitate the current structure not only because of its historic contribution to the neighborhood character but also because of its strong bones. Sustainability here not only means ecologically aware, but also to sustain the local residents' ties to the community. We do not want to displace anyone, but keep our tenants in their home and keep the culture of the community strong. Thanks to the help of CRA, we plan on cost sharing this project so that we are able to continue to serve the current residents of the Omni area at affordable rates with homes they can be proud of. Developer & Principals Developer: Natalie Duran of Upturn Group LLC Upturn Group concentrates on infill development and affordable housing in the Miami area. It is owned and operated by Natalie Duran and currently has over 200 units of ground -up affordable housing in the pipeline. She has the experience of working in real estate and construction since she was a child. Growing up with a mother who was a real estate professional and father who is a contractor, Natalie learned the business rather quickly. She received her undergraduate from Loyola University in Communications and Marketing, and then went to work with the family. She supervised and managed several projects ranging from single family homes to the build -out of a 60,000+ SF office building. She received her real estate license in 2011- concentrating in multifamily investments. She went on to attend University of Miami for their Master in Real Estate Development + Urbanism on scholarship and at the graduation ceremony was presented the award of Most Valuable Student in Real Estate Development by her peers, professors and the program directory. She continues to learn and expand Affordable Housing opportunities locally and has been working on policy changes within the City of Miami. Principal: Carlos Parra of Southeast Real Estate Investments LLC Southeast Real Estate Investments LLC is owned and operated by Carlos Parra- a Miami local who's has had the experience of acquisition and rehabilitation for more than 60 homes. He is a financial and risk analysist and consultant for corporate clients, and he is also an expert in marketing for commercial projects. He has a degree in Business Administration as well as Juris Doctorate. 1 UPTURN GROUP Principal: Jorge de Pina Jr. of Mia Acquisitions Inc. Mia Acquisitions Inc. is owned and operated by Jorge De Pina Jr. He is a Miami local who has strong ties to the community. He did his undergraduate in Florida International University and his Master in Real Estate Financing through the University of Miami. Mr. Pina owns a real estate brokerage company called Mia Realty and has been in the real estate business for over 15 years. His background has been in rehabilitation of single family homes, distressed assets, and is now in the works of constructing approximately 85 Affordable Housing units in the City of Miami. Casa Mia Apartments LLC r Developer: Upturn Group Natalie Duran r o Architect: Moino/Fernandez Architects Inc. Marcelo A. Moino AR-11733 Engineer: Maquiera Engineering Consultant Marquis Bank: LOC General Contractor: Rick Developer Inc Ricardo Riera CGC1509229 I 1 Project Manager J J Subs 2 r Vendors/Suppliers UPTURN GROUP Development Description Project Overview The Developer plans on working with the Omni CRA to rehabilitate the existing structure. She intends to renovate the existing multi -family residential building located at 1815 NW 1' CT. It is located in the Overtown neighborhood in the City of Miami. The property consists of one 6,300 SF T3-0 zoned parcel with one structure made up of 12 residential units. Once the apartments are redeveloped; they are to intended to be leased to the existing residents. As more units become available, they will leased to qualified tenants under the Affordable Housing Criteria set forth in the covenant and Rental Regulatory Agreement By redeveloping the property with the Omni CRA, the developer intends to keep stock of affordable housing to the current residents- maintaining the community and family ties in the neighborhood. 3 UPTURN GROUP 4 opru:w anoop S UPTURN GROUP 6 UPTURN GROUP Project Deliverables The Developer and Owner commit to a period of 20 years under the following Affordable Housing lease rate guidelines. 25% of the building will be at 30-50% AMI 25% of the building will be at 50-80% AMI 25% of the building will be at 80-120% 25% of the building will be at Market Rates The property consists one freestanding building of 12 units: 6 Studios 6 2-bedroom, One Bathroom units This applications is made by Upturn Group LLC., a Florida limited liability company (the "Developer"). The Developer intends to renovate the existing 12-unit multi -family residential apartment building, which is located in the Overtown neighborhood in Miami -Dade County. The apartments, once renovated, are intended to be leased to the existing residents. As units become available, they will be leased to new tenants who are qualified under the Rental Regulatory Agreement. The project will be done one column of apartments at a time, starting from the West and working our way to the East. 3 units will be worked on simultaneously and the current tenants will move into the units once they are available. The Developer will work to keep tenants on property during renovation by temporarily relocating tenants to unoccupied units within the Development site and placing them back into their renovated units upon completion. The Developer expects to begin delivering units within 12 months from the commencement of work, with a completion date dependent on the cooperation of in - place tenants. General Description of the Development The Principals have formed a separate Florida limited liability company, which will be the record owner for the individual site: Casa Mia Apartments LLC. The Development consists of a total of 12 units spread out through three stories. The unit break -down is as follows: 6- Two Bedroom, One Bath Units 6- Studio, One Bath Units Developer commits to undertake the necessary renovation of the Development. The general renovation package, which the Developer intends to make in each of the units requiring renovation, consists of: 7 UPTURN GROUP • All upgrades to meet fire safety code. • Roof replacement with warranty. • New air conditioning system in all units- o 2 bedroom: Goodman 1.5Ton 16 SEER AC o Studios: Mitsubishi 12k BTU Cooling + Heating 23.1 SEER • Energy Star qualified water heater in all units. • Code -compliant impact windows. • Exterior doors replaced with fire rated metal doors. • Commercial VCT and/or Ceramic or comparable flooring throughout each entire unit. • Energy Star qualified refrigerator, dishwasher and full-size range and oven in all units. • The Developer will install new cabinets with granite or comparable counter tops, and a new sink and faucet. • The Developer will install new bathroom cabinets, sinks, fixtures, toilets, tubs or showers. The Developer will install ceramic, porcelain or comparable tile bathroom floors and walls at bathing areas. • Code compliant site lighting. • Appropriate landscaping and fencing. • Termite prevention and pest control • Replace existing plumbing with Florida Building Code required • Resurface parking area • Add exterior fencing for the safety and security of the residents. The Developer is committed to preserve and protect the environment and will install new Energy star - rated appliances and air conditioning equipment throughout the Development. The Developer will explore energy efficient solutions to help reduce utility costs to tenants and to promote the City's commitment to "sustainability". The Developer approximates $58,000 per unit to renovate- included but limited to all Hard Costs and Soft costs. This includes not only new interiors but also base building work such as new roof, windows, structural, mechanical, plumbing & electrical upgrades, and exterior finish - which includes landscaping, fencing, parking and common areas. Consulting, architectural and expediting services. Please note that the $58,000 per unit cost does not include a developer fee. Given this experience, the 12 unit renovation will cost a minimum of $696,000 to deliver a project which the Developer and the Omni CRA can be proud of. 8 Rehab Cost By Trade UPTURN GROUP Labor Material Flat Fees Subtotal GENERAL CONDITIONS $810 $2,226 $163,005 $166,041 DEMOLITION $0 $0 $33,580 $33,580 SIDING $7 $3 $6,000 $6,010 ROOFING $4 $3 $40,000 $40,007 EXTERIOR DOORS & WINDOWS $12,355 $3,139 $38,000 $53,494 LANDSCAPING $0 $0 $6,000 $6,000 MISC. EXTERIOR ITEMS $50 $107 $8,150 $8,307 FRAMING & DRYWALL $0 $0 $42,000 $42,000 CABINETS & COUNTERTOPS $3,600 $8,988 $30,000 $42,588 DOORS&TRIM $10,210 $10,251 $12,000 $32,461 FLOORING $5,400 $17,334 $0 $22,734 TILING $0 $0 $4,600 $4,600 PAINTING $3,350 $1,798 $28,000 $33,148 APPLIANCES $0 $23,112 $0 $23,112 PLUMBING $8,544 $17,835 $60,000 $86,379 HVAC $0 $0 $36,000 $36,000 ELECTRICAL $24,750 $5,906 $18,840 $49,496 MISCELLANEOUS $2250 $4140 $0 $0 Hard and Soft Costs Hard and Soft Costs Hard and Soft Costs Land Cost Labor Material Flat Fee Totals Totals per Unit $5,944 $7,904 $43,848 $57,163 Total per SF $13 $17 $92 $120 Total $980,000 Development Cost Total per Unit $71,330 9 $94,842 $526,175 Subtotals $685,957 $1,665,957 $138,830