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Diamond View Apartments <br /> Narrative Summary <br /> Development and Unit Description: <br /> Diamond View Apartments will provide 60 affordable apartment homes, 12 of which are set aside for people with <br /> intellectual and developmental disabilities, in a location near a wealth of job opportunities and local amenities. Diamond <br /> View Apartments will be a four-story, new construction building with a mix of 20 one-bedroom units, 24 two-bedroom <br /> units, and 16 three-bedroom units. Each apartment will be equipped with a balcony/patio, free high-speed internet <br /> throughout the building,full-size washer&dryer,ceiling fans,dishwasher,and walk-in closets.Diamond View Apartments' <br /> 60 affordable apartments will be a part of a master development that includes an additional 60 market-rate apartments <br /> to create a true mixed-income community. <br /> Amenities in and around Development: <br /> A portion of the building's community space will be dedicated to LOGAN for staff offices and community employment <br /> such as a café or art studio/showroom for their clients. LOGAN currently offers a Community Employment Program that <br /> assists individuals with disabilities in finding and maintaining meaningful employment through 1) Discovery 2)Job Search <br /> 3)Job Placement and 4)Job Coaching. <br /> Beyond the features for LOGAN, Diamond View Apartments will incorporate a variety of amenities for all residents. There <br /> will be an incredible rooftop deck with views of Four Winds Fields. The property will also have a community room with <br /> television, picnic area with grills,a computer center, and exercise room. <br /> Area's need that Development will help meet: <br /> As the market study for Diamond View Apartments confirms, demand for affordable housing, especially for housing <br /> serving low-income and disabled household has remained very high in the South Bend area,which is underserved by LIHTC <br /> rental alternatives based on their current occupancy levels. Pages 11-6 and 11-7 of the Market Study show that 14 existing <br /> LIHTC properties within the site PMA have an overall occupancy rate of 99%with waiting lists. Also noted in the Market <br /> Study Page 11-10, our proposed project has a capture rate of just 1.0%, indicating immense unmet demand in the market <br /> that has only further increased since last year. With proposed rents ranging from 24.3-62.3%of achievable market rents, <br /> Diamond View represents significant value for the local market. <br /> The constituency served by the Development: <br /> The constituency served by Diamond View Apartments will consist of 18 units <br /> at 30% AMI, 12 units at 50% AMI, and 30 units at 60% AMI. Diamond Viewp . ! „” <br /> ir <br /> Apartments will be a Community Integration development with 12 of the . `` <br /> apartment homes set aside for those with intellectual and developmental ' <br /> disabilities. The services provided by LOGAN Community Resources, Inc. <br /> ("LOGAN"), a highly regarded non-profit organization, and the project-based ' .4 <br /> vouchers from the South Bend Housing Authority will assist these residents in <br /> living independently. LOGAN provided insightful information as we configured <br /> the unit mix. Based on their recommendations, we increased the number of <br /> three-bedroom units and redesigned apartment layouts in half of these units to be more conducive for roommate and co- <br /> living situations for their clients. LOGAN is very grateful for this opportunity mentioning to us that their current housing <br /> is extremely substandard,and they have never had a chance to provide housing input in the past. <br /> Development Quality: <br /> With RealAmerica's and the City of South Bends's commitments to high-quality design, construction, and management, <br /> Diamond View Apartments will be built to exceptional standards to ensure it stays a great place to live for decades to <br /> come. The 60 affordable apartments will benefit from and will be constructed to the same levels as the 60 additional <br /> market-rate units that make up the greater mixed-income project. Diamond View Apartments will be constructed to the <br /> fli .Ayn,_Ru / <br /> www.kea1Amelica:,i.( .com <br />