Historic Brookhill Village Poised for Renewal as New Brookhill with Emphasis on Affordable Housing
Charlotte, NC – Entities led by NC entrepreneur, developer, business leader and attorney Tom Hendrickson have closed on development and leasehold rights for Charlotte’s Brookhill Village and announced a proposed New Brookhill renewal project for the area created in collaboration with key community stakeholders, including South Tryon Community Development Corporation.
An affiliate of Lookout Ventures, Inc. will serve as the developer and Brookhill Land Lease Ventures, LLC will serve as leasehold tenant for the proposed project. Both are led by Hendrickson.
The deal includes commitments to pursue affordable housing on the site and meets requirements of agreements with the US Attorney’s Office and Charlotte-Mecklenburg Police Department concerning the area. The proposed New Brookhill will meet the development parameters of LISC guidelines, the Freddie Mac Non-LIHTC Forward Permanent Loan Program and the Settlement Agreement with the US Attorney’s Office.
“The issues that have clouded Brookhill Village for years are gone. New Brookhill is an exciting half-affordable/half-market rate mixed income community that should be a case study on how to redevelop an area by providing quality housing without ignoring its history and displacing its residents. Now it depends on the Charlotte community joining us to find the resources to bring New Brookhill to reality,” said Hendrickson.
“New Brookhill will prove that we can walk the walk and not just talk the talk that ‘Brookhill Matters’ for Charlotteans from a wide spectrum of incomes and backgrounds. Affordable housing is a community priority in Charlotte and our proposal for this historic area prioritizes current residents for affordable housing opportunities. Now, we are hopeful that the Charlotte community will step up as partners in this effort with funding resources to make this vision a reality,” he continued.
“For two years, we have worked hard with Tom and his team to address complicated issues surrounding Brookhill Village. I’m proud that we have accomplished this, closed a very difficult transaction, and are ready to move forward. New Brookhill represents true collaboration with community partners who care about the people, history and legacy of Brookhill Village. Now with support and financial resources from the greater Charlotte community, we can prove that Brookhill matters in the future of this entire community,” said Ray McKinnon, Senior Pastor for the South Tryon Community United Methodist Church and President of the STCDC.
As proposed, New Brookhill will include a 324-unit multi-family apartment rental community featuring 3-story flats and 2-story townhome Energy Star compliant buildings on approximately 15.5 acres on the site of Brookhill Village. To meet affordable housing goals, the proposal includes 65 units @ 30%AMI, 97 @ 60%AMI, 2 @ 80%AMI, and 160 @ market rates. The community will also include 16 fully accessible units. Additional facilities will include an office, community center, computer center, laundry facility, pool, pool house and recreation center.
The construction of New Brookhill will occur in phases with rolling Certificates of Occupancy to avoid displacement and off-site relocation. Demolition and construction will begin in an area where no buildings are occupied and roll through the project in phases. Current residents in the units to be demolished will be given priority application for opportunities to move directly into new units for which they qualify.
The South Tryon Community Development Corporation (STCDC) and the South Tryon Community United Methodist Church, which is adjacent to the site, will assist with community outreach and resident support as the proposed project moves forward.
“The redevelopment of Brookhill Village represents a truly unique opportunity to both preserve housing for those in the 30% AMI range, and to build new workforce housing in the 30-60-80% AMI range. We look forward to sharing this vision with community leaders and to working with them to find resources that will honor the legacy of Brookhill Village and keep the positive momentum going in Charlotte’s South End,” said Hendrickson.