Feasibility Assessments, Indianapolis Housing Authority

The Indianapolis Housing Agency (IHA) owns and operates 14 developments with 2,100± units.  It also administers about 1500± Section 8 certificates.  Downtown Indianapolis has experienced tremendous growth within the last ten years.  A few years ago, Indianapolis’ downtown practically closed up at the end of the workday.  But civic leaders and private developers joined together...

Feasability and Needs Assessment – Taft Court, Belding, MI

The Belding Housing Commission (BHC) is a small agency within a rural community just outside of Grand Rapids. Their proximity to this major urban center has created pressure upon the community to evolve into a bedroom community for the young executives and higher paid hourly worker in the Grand Rapids industrial base. BHC recognized the...

Utility Allowance Determination – Ann Arbor Housing Commission

As part of a Troubled Agency recovery team, Damian Colden was required to review the existing utility allowances and develop a an updated allowance schedule. The schedule that was in use had not been updated since 1987. It was decided that an engineered computer model should be developed based on sound engineering principles and industry...

Due Diligence Inspection – Positive Images, Detroit

Performed a Pre-Purchase Due Diligence Inspection for Positive Images, Inc to identify the immediate repair and renovation costs to bring the building to an acceptable office condition and mitigate code compliance issues. The building was owned by another local non-profit agency who had run a social services program from that location for a number of...

Capital Needs Assessment – Chateau Cherry Hill, Inkster, MI

Performed a Capital Needs Assessment for the Chateau Cherry Hill Elderly Development in Inkster, Michigan in support of a Low-Income Housing Tax Credit Application to the Michigan State Housing Development Authority. The Capital Needs Assessment used a life expectancy costing model to forecast timing of anticipated capital improvements. The assessment also presented a strategy for...

Capital Needs Assessment – Circle Brook Manor, Cowen, WV

Performed a Capital Needs Assessment for the Circle Brooke Manor development in Cowen, West Virginia in support of a Mark-to-Market Transition Plan. The American Apartment Management Company asked Colden & Associates to perform an independent assessment of the development as a basis for an appeal of the needs assessment that had been performed by a...

Comprehensive Market Study – Las Cruces, NM

The City of Las Cruces undertook a comprehensive housing market study as part of its Consolidated Plan for Housing and Community Development.  The market analysis, completed by BBC Research & Consulting, examined the affordability, availability and condition of housing in Las Cruces, particularly housing available to households earning less than 80 percent of the median...

Herman Gardens Revitalization

Herman Gardens contained 1573 residential units in 168 buildings on a 160-acre site. Detroit's history included population declines; downward shifts in socioeconomic indices, economic instability for major industries; and consequent decline in investment in all sectors. The housing market was extremely depressed. Herman Gardens was previously awarded HUD grants for nearly $28 million through the...