- Project Name: Towne Club Senior Apartments
- Client: CommonBond Communities
- Landon Group Role: Secure financing; ensure financial closing
- Address: 1081 Felty Avenue SE, Rochester
- Project Cost: $8.3 million
- Financing: HUD 202 Capital Grant; 4% Low Income Housing Tax Credit Equity; Deferred financing from Federal Home Loan Bank
- Project Size: 40 affordable rental units for seniors
- Contractor: Sand Companies, Inc.
- Architect: Cermak Rhoades Architects
CommonBond Communities’ Towne Club Senior Apartments in southeastern Rochester has provided 40 units of affordable housing to seniors aged 62 and older. Financing through HUD’s 202 program allows tenants to pay 30% of their income for rent through a rental assistance contract.
The building is designed to encourage interaction among its residents, as well as facilitate the integration of these senior residents into the surrounding neighborhood. The site is located near the Rochester Community and Technical College, where access to fitness facilities and other programming for residents is provided.
This development’s units and community spaces are flexibly designed to accommodate the needs of residents who are becoming less mobile as they age in place, meeting the changing needs of residents over time.
CommonBond’s signature Advantage Center provides services to help the senior residents maintain their independence. The Advantage Center complements CommonBond’s quality property management functions with services that include information, personal assistance and access to services from other providers.