BRIGHTON, Mich., Aug. 8, 2012 /PRNewswire/ --Unified Property Group, a leader in real estate planning and acquisitions, has dedicated the community center of its newest property in Detroit, Emerald Springs, to Carol A. Goss, The Skillman Foundation president and CEO. An event to commemorate the community center naming was hosted on Wednesday, August 8, from 11:30 a.m. to 1:30 p.m. at Emerald Springs, located at 5550 Charles St. The dedication event featured a brief presentation honoring Goss's work through The Skillman Foundation, followed by a town hall discussion.
Unified Property Group is the principal developer of the finance team for the Detroit Housing Commission property, Emerald Springs. The finance team also consists of the U.S. Department of Housing and Urban Development (HUD), City of Detroit Departments of Public Works and Planning and Development, the Michigan State Housing Development Authority, Chase Bank and AEGON USA Realty Advisors. Unified leveraged nearly $40 million in both public and private funding to construct Emerald Springs.
The town hall discussed the development of Emerald Springs and what it symbolizes for the city of Detroit. Town hall panelists included:
- Kelley Lyons - Interim Executive Director of the Detroit Housing Commission
- Robert Anderson - Director of Planning & Development for the City of Detroit
- Harvey Hollins - Director of Urban Initiatives for the State of Michigan
- Gary Heidel - Executive Director of the Michigan State Housing Development Authority (MSHDA)
"At Unified Property Group we aren't just satisfied offering quality affordable housing," said Brian Stoy, CEO of Unified Property Group. "We have a deep-rooted commitment to serving the communities of our properties. By dedicating the Emerald Springs community center to Carol Goss, a Detroiter who is dedicated to Detroit neighborhoods and children, we're not just honoring our own commitment we're taking one of many steps to be a part of the city's revitalization movement."
Involved in philanthropy for the past 20 years, Goss joined The Skillman Foundation in March 1998 as a senior program officer. In 2004, she was named President and CEO of the Foundation whose mission is to improve the lives of children in Metropolitan Detroit by strengthening their schools and neighborhoods. She has also worked as a program officer at the Stuart Foundation in San Francisco and as program director at the W. K. Kellogg Foundation in Battle Creek, Mich.
Emerald Springs is one of the newest properties built in Detroit and offered by the Detroit Housing Commission. The site will have more than 206 public and affordable housing units when completed.The new community center is where residents can exercise, watch movies, hold meetings and take part in educational and employment services. Phases 1 A & B have been completed and are all leased, which includes 158 - two, three and four bedroom units. Phase 2, which includes 48 units, will be completed by first quarter 2014.
A fourth off-site phase consisting of 50 single-family rental homes will be constructed after the completion of the onsite development.The homes will be located within the surrounding neighborhood of the Emerald Springs development site. Although the new homes will initially be rented and financed through the Low Income Housing Track Credits (LIHTC) program, after the 15-year tax credit compliance period expires, the current resident will be given the option of purchasing the home. This will provide each tenant with an opportunity to own their own home.
About Unified Property Group
Unified Property Group has more than30 yearsof experience in the real estate industry acquiring, developing, and managing multi-family, senior, and commercial properties. With properties throughout the Midwest and more than 1,500 employees, Unified Property Group has the expertise, strength and familiarity with markets needed to own and manage every type of real estate property. Their management portfolio currently includes more than12,000 apartmentsincluding over3,000 senior housing units. For more information, visit www.unifiedpropertygroup.com.
SOURCE Unified Property Group