staff writer
The Booth Street Apartments Phase 1 project will knock down an existing 50-unit apartment complex to be replaced by a new 84-unit apartment complex.
The project will create 34 new equivalent dwelling units in addition to the 50 already allocated to the land.
The current Capacity Fee rate of $3,533, which totals to $120,122, was waived during the Salisbury City Council meeting on Nov. 10, as requested by Pennrose Properties, LLC.
Public Works has found that the request meets the criteria outlined in Resolution No. 1211 for Affordable Housing, according to a memorandum from Director of Public Works Mike Moulds.
“One of the city’s goals is to encourage the development of affordable housing in the City of Salisbury,” said Terrence Arrington, assistant city administrator.
Pennrose Properties, LLC has committed to providing affordable housing at the Booth Street Apartments Phase 1 to households earning less than 60 percent of the area median income, adjusted for family size for at least 30 years, according to Resolution No. 2461.
“Absolutely, there is a need [for the additional 34 units]—it is definitely there,” said Patrick Stewart, a Pennrose Properties representative.
The property owner is and will remain the Wicomico County Housing Authority, which will ground lease the buildings to a development entity, which is jointly comprised of Pennrose Properties, LLC and the housing authority.
Pennrose Properties, LLC has completed 90 to 95 percent of its construction drawings and has received development plan approval through the county. Financial closing will be reached in March of 2015, followed by construction starting in April, Stewart said.
Rebecca Jones lives near the Booth Street apartments and has a friend who currently resides there. She is glad her neighbor will be given updated housing, as well as that the city will be providing more housing opportunities for everyone, she said.
“It can be really hard to live in this city sometimes, so making more places to live will definitely help us,” Jones said. “I know we’re trying to make downtown Salisbury more exciting, so maybe this will help that, too.”
It will take approximately 15 to 16 months to build all 84 units, Stewart said. Residents currently living in the Booth Street apartments will be asked to leave under a temporary relocation plan, but may return after construction on the primary units is complete.