Groundbreaking held for Clarecastle Senior Housing project
Developers, community leaders and legislators attended a Groundbreaking ceremony for the new senior housing project and projected senior community center in Clare Thursday morning at the old Thayer Dairy site at 144 West Fourth Street on the corner of Fourth and Beech Streets.
Construction on the $3 million project has already begun and is projected to be completed in the summer of 2010.
The site stayed relatively unchanged since the old Thayer Dairy Building was demolished in February 2009 as the funding details evolved. Fourth Street Senior Housing LDHA LP, a partnership between Mid Michigan Community Action Agency and P.S. Equities of Mt. Pleasant is providing the four-story complex, which will house the Clare County Senior Center on the ground floor and 24, two-bedroom units for adults 55 years and older (based on resident households with 60 percent of area median income or below) on the top three stories.
“Not only are we breaking ground on a beautiful new building, but our agency is also breaking ground in providing affordable housing to area seniors,” Jill Sutton, Mid Michigan CAA Executive Director said. Every aspect of the building’s design will take the needs of seniors into account. Each unit will have two bedrooms, a washing machine, dryer, air conditioning, high speed internet, appliances and a private balcony. Each unit will also have a carport. Residents will also have a private community space for regular activities with a large screen TV for movie nights and a library area with computers for resident use. “We are really excited to move forward with the development of this project,” Sutton said, “and we are grateful to the City of Clare and Clare County for all of their support. They have been on board since day one.”
Financing for the project is through a conventional loan from Isabella Bank and Trust, who has committed to purchase the Low Income Housing Tax Credits.
MMCAAA will be donating the land to the housing entity. Demolition, environmental and site preparation work is financed through a Housing and Community Development Fund Grant to MMCAA.
The site has also been designated as a Brownfield and will be eligible for Michigan Business Tax Credit, which will be sold to generate additional money for the development of the housing project.
