The Public-Private Partnership Supporting the Pines of Perinton Community
The $65 million rehabilitation of the Pines of Perinton affordable housing complex is being accomplished in phases under the oversight of WinnDevelopment, the development arm of WinnCompanies, and in partnership with the property manager, WinnResidential, and a full-time Connected Communities Resident Services Coordinator.
HousingToHome is providing expert relocation services to coordinate the process of moving households to newly renovated vacant apartments or into vacant units on site temporarily while their apartments are being renovated.
Here are the development team partners:
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Resident Logistics Coordinator – HousingToHome
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General Contractor - DiMarco Constructors of Rochester
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Architect - The Architectural Team.
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Civil Design & Landscape Architect - BME Associates of Fairport
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MWBE Jobs Consultant - Renaissance Groups. a certified women-owned consultant based in
Rochester, is conducting outreach within the local community to provide access to construction job opportunities to ensure local, minority and women-owned businesses are given the chance to bid
for work on the project.
No households will be permanently displaced during the project.
The financing that made this work possible also protects the affordable housing at this community for at least the next 40 years, and will generate additional resources for the expansion of resident services at the property/
Resident and community feedback played an important role in shaping the scope of work for the project. In addition to financing from WinnCompanies, numerous agencies and institutions are supporting and funding the modernization work::
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New York State Homes and Community Renewal (NYSHCR) and the New York State Housing Finance Agency (NYHFA) are providing tax-exempt bonds, a first mortgage loan and subsidy loans, along with an allocation of federal and state Low Income Housing Tax Credits.
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The State of New York Mortgage Agency (SONYMA) is providing credit enhancement to the long-term first mortgage financing.
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The New York State Historic Preservation Office (NYSHPO) is providing state historic tax credits.
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Bank of America is a construction loan letter of credit and has purchased all federal and state low-income housing and historic tax credits.
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The New York State Energy Research and Development Authority (NYSERDA) and Fairport Electric are providing energy efficiency grants.
In addition, the U.S. Department of Housing and Urban Development, the Town of Perinton, Monroe County, the Rochester and Fairport housing authorities and Five Star Bank all play critical roles in the preservation, rehabilitation, and ongoing services for residents.
The law firm of Nixon Peabody LLP served as legal counsel to the owner, WinnCompanies, on the transaction, advising on issues related to the U.S. Department of Housing and Urban Development, regulatory compliance, federal and state housing and historic tax credits, financing and environmental issues.
