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Topic: THE SMITH VILLAGE SAGA!
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untanglingwebs
El Supremo

FY 97 Homeownership Zone
Flint, Michigan
AMOUNT OF AWARD:
Homeownership Zone Grant $2,013,000

NEW HOMEOWNER UNITS:
319 (269 new construction, 50 rehabilitation)

PROPOSED COMPLETION:
Unknown

HOMEOWNERSHIP ZONE SITE:
The University Park Homeownership Zone (HOZ) is a 265 acre area located in the middle of Flint. It is near the Central Business District and the Flint campus of the University of Michigan. The Homeownership Zone consists of two subtarget areas that are distinct but connected. The west subtarget area is bounded by Mary Street on the north, Saginaw Street on the east, Fifth Avenue on the south, and Martin Luther King Jr. Avenue on the west. The east subtarget area is bounded by Harriet Street on the north, Industrial Avenue on the east, Cornelia Street on the south, and Saginaw Street on the west. At the time of the Homeownership Zone designation, nearly half of the area consisted of vacant or boarded-up properties, and there had been no new housing development in 12 years.

PROGRAM DESCRIPTION:
Flint encountered a number of problems that prevented the implementation of the City's original Homeownership Zone proposal. The original proposal called for the development of new homeownership housing located in two subtarget areas - University Park and Smith Village. The City also proposed to rebuild streets and infrastructure, rehabilitate and expand a local community center, create new parks and green space, and initiate a small business support program. While the University Park subtarget area is complete, redevelopment of the Smith Village area stalled. The City is revising its Homeownership Zone strategy and developing a "restart" plan.

FUNDING:
Homeownership Zone Grant $2,013,000

PARTNERS:
Smith Revitalization, LLC Project Manager
Rowe, Inc Project Engineer

PROJECT OUTCOMES:
Underway

INNOVATIONS:
Underway

BEST PRACTICES:
Underway

LESSONS LEARNED:
Underway

AWARDS AND RECOGNITIONS:
None

Additional Information
Project Contact
MAP
PICTURES (not available at this time)




Content Archived: May 25, 2011


FOIA Privacy Web Policies and Important Links

U.S. Department of Housing and Urban Development
451 7th Street S.W.
Washington, DC 20410
Telephone: (202) 708-1112 TTY: (202) 708-1455
Post Fri Sep 23, 2011 9:16 am 
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untanglingwebs
El Supremo

Bank Owned Homes for Sale Expected to Influence Subdivision Project

March 10th, 2011 by Jason Westmann

The number of foreclosed properties and bank owned homes for sale has remained high in Michigan. This led some analysts to question whether it is wise to build new subdivisions now when the state is currently sitting on a huge excess of property inventory. The debate was recently reignited by reports that the Smith Village project in Flint, started around 13 years ago, will be restarted this year.

According to some housing industry analysts, there are too many Detroit foreclosures for sale and unsold residential properties in various areas of the state that building new ones will be unreasonable. Based on housing reports, Flint is said to be in possession of a surplus of around 27,000 housing units. Some realtors have argued that the last thing the region needs are more residential properties.

Local analysts have also argued that newly built houses are finding it hard to compete with cheaper foreclosed homes for sale in Michigan and that other counties have even put their residential development projects on hold. Those who oppose the project also stated that even if the Village is completed, there will not be enough people with means who can purchase the finished properties.

Meanwhile, those who support the completion of the project have argued that there will be buyers who will opt for newly built houses rather than bank owned homes for sale, particularly since the development is predicted to be the only subdivision that will be built in the area in 2011. Funds from a federal grant will reportedly be used to construct more than 80 housing units at the subdivision this year.

The people behind the project have stated that half of the houses in the subdivision will be sold to buyers who belong to the low income bracket and who are mostly unable to afford traditional homes and even bank foreclosed properties. They also noted a Downtown Development Authority report which showed that Flint is currently in need of around 250 residential units in its downtown neighborhood, which means that there will be a market for the new houses.

In response, critics have asserted that the factors that stalled the completion of the subdivision more than a decade ago still exist and have become even worse. They added that the recession, job losses and the huge amount of bank owned homes for sale will only result in the finished houses sitting empty in their lots for a long period of time.



Bank Owned Homes for Sale Expected to Influence Subdivision ...
10 Mar 2011 ... Bank owned homes for sale remain high in Michigan, causing analysts to question the ... In Flint, an old one is set to be restarted. ... The debate was recently reignited by reports that the Smith Village project in Flint, started ...
http://www.bankforeclosuressale.com/wp/article-03103559.html - 33k - Cached - Similar pages
Post Fri Sep 23, 2011 9:27 am 
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untanglingwebs
El Supremo

The City is still advertising some of the homes in Smith Village!
Post Mon Jan 02, 2017 2:36 pm 
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untanglingwebs
El Supremo

We need to watch what the Weaver administration is planning to do with incoming federal money.

The new definition of "north Flint" is now north of 5th - Flushing Road. That means Smith Village is now North Flint. Before the Uptown groups wanted development within a 2 mile radius of downtown.

Drive north of Smith Village between ML King and Saginaw Street and the area is nearly gutted. Also the area north of Flushing to Welch, from Ml King to Chevrolet has been heavily demolished.

I remember being at a meeting with MSHDA officials present and local development specialists. They convinced MSHDA to allow the former nursing facility across from Hurley to stay green until development was feasible. Rentals were encouraged.
Post Tue Jan 03, 2017 6:47 am 
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untanglingwebs
El Supremo

Are any of the new homes in Smith Village were for low income. They were moderate income and up. This is no time for new construction as people are leaving Flint.

Watch that Habitat for Humanity will get the lion share of rehab money and will focus near downtown. Smart growth publications advocate rebuilding the City from the center out in the manner the City developed. But what does that mean for those living outside the core?

I supported Weaver but I am increasingly growing distrustful of her and her advisors. Watch for conflicts of interest.


Last edited by untanglingwebs on Wed Mar 21, 2018 11:37 am; edited 1 time in total
Post Tue Jan 03, 2017 6:57 am 
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untanglingwebs
El Supremo

homes are still for sale
Post Wed Feb 21, 2018 8:21 am 
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untanglingwebs
El Supremo

FREE TRIAL

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Bret Russell
Bret A. Russell
Chief Executive Officer at NSG Development & Building Group LLC
Location:
31000 Telegraph Rd. Ste 260, Franklin, Michigan, United States
Company:
NSG Development & Building Group LLC
HQ Phone:
(248) 792-5164
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General Information
Experience
Active Duty Pilot and Instructor Check Pilot - Naval Squadrons

Managing Director - Pulte Modular

Aviation Commander - US Navy

Education
Naval Postgraduate School of Aviation Safety Management

University of Michigan

bachelor - marine engineering systems , the United States Merchant Marine Academy

Recent News
NSG Executive Profiles
Bret Russell Chief Executive Officer
NSGbuild.com Bret Russell
Bret A. Russell Chief Executive Officer Mr. Russell is a Managing Director of Pulte Modular, a home building company. Prior to joining Pulte Modular, between 2006 and 2011, Mr. Russell managed various NSG operating companies focused on single family home development and building opportunities in both the private and government sectors. Mr. Russell specialized in the procurement of contracts relating to construction and real estate development with government entities. Bret focused on this area of real estate development given his familiarity with government regulations he gained while serving as a United States naval aviator. Between 2001 and 2005, Mr. Russell served as an aviation commander in the US Navy. Mr. Russell was the officer in charge of a Brunswick, Maine weapons systems and training detachment for the US Navy focusing on risk management and operational performance improvements in the submarine underwater warfare community for reserve naval aviation squadrons. From 1994 to 2000, Mr. Russell served as an active duty Pilot and Instructor Check Pilot for Naval Squadrons. Prior to attending business school at the University of Michigan (Ross School of Business), Mr. Russell received his bachelor in marine engineering systems with a minor in nuclear engineering from the United States Merchant Marine Academy, Kings Point, NY. After graduating from the Merchant Marine Academy in 1993, Bret Russell served as a Navy Pilot and Mission Commander during the enforcement of Operation Desert Shield. At the age of 25, he was the division officer of a squadron maintenance department and an instructor check pilot in charge of $550 million worth of aircraft and equipment. Bret flew dozens of armed missions overland Iraq and in the Persian gulf. Bret finds the leadership skills he acquired on the tarmac invaluable in business. "I'll always be a Navy Pilot," says Mr. Russell, who left the U.S. Navy to pursue his family and business interests. While serving in the U.S. Navy, Bret graduated from the Naval Postgraduate School of Aviation Safety Management. He also received aviation risk management certification from the National Transportation Institute. His military experience led to an interest in the world of risk management in real estate, construction, and finance. Mr. Russell co-founded Pulte Modular to Develop and Build in labor constrained markets. Pulte Modular currently owns 3 subdivisions in North Dakota and has options on others. Mr. Russell is also currently vetting numerous housing opportunities in a high net worth destination resort club that a private equity company has shown interest in acquiring and operating with NSG Building Group as an operating partner
Post Wed Feb 21, 2018 9:45 am 
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untanglingwebs
El Supremo

Have a Buck? Buy a House!
By ERIC HORNG March 8, 2009
Email
A dollar doesn't buy much these days. But in Detroit, it can buy you a house.

Real estate agent Ian Mason, who specializes in selling foreclosed properties, showed us a two-bedroom, 800-square-foot home that his agency recently sold for a single dollar.

"It wasn't much of a negotiation," said Mason, who works for Bearing Group. "The seller was ambitiously looking to get rid of it."

That's because the seller, a bank, was losing thousands each month in maintenance costs and taxes just to hold onto the foreclosed home, which is badly in need of new paint, carpeting, and bathroom fixtures -- but otherwise appears structurally sound and free of mold.

For the price of a can of soda, Mason says it's a bargain.

"I think you can make this house clean, safe and functional for $500 to $1,000," said Mason.

There are more than 40,000 vacant properties in Detroit, which has been hit hard by the foreclosure crisis, and the median home price is a stunningly low $7,000. In many neighborhoods, homes that were fetching $75,000 just three years ago are now selling for ten cents on the dollar or less.

"Some of the homes are very nice. Some of them are falling over," said Mason.

It's not just Detroit. This weekend, hundreds of foreclosed houses were being unloaded at fire sale prices at giant auctions in New England and New York. For the banks that are in possession of these properties, time is money.

In Detroit, home prices have plunged more than 20 percent, but sales volume is up 37 percent in the past 12 months.

Many of the buyers are real estate investors like Bret Russell. The Michigan native has purchased and renovated more than 120 Detroit-area properties, converting them into rental homes. He works closely with Mason to find the best houses at the lowest prices.

"I see very little risk in the market currently," said Russell. "You're buying a home for $10,000. If it goes down to $8,000, your rents are very strong, so from a cash-flow standpoint, you're on steady footing."

Mason says some residents may not be thrilled about a home next door selling for close to nothing, but he says in the long run it's the best thing for Detroit's struggling housing market and economy.

"A neighborhood gets a person or a family inside a vacant house," said Mason. "You have kids playing on the block again. You have people using the stores ... and they bring life back to the neighborhoods."


Last edited by untanglingwebs on Wed Mar 21, 2018 11:38 am; edited 1 time in total
Post Wed Feb 21, 2018 9:54 am 
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untanglingwebs
El Supremo

HUD sent Dayne Walling a "termination and Close out" for the University Park Homeownership Zone HZ97-035 on September 19,2011

On March 29,2010, HUD wrote to advise you that HUD is terminating the City's UNiversity Park Homeownership Zone due to the City's failure to complete the Smith Village portion of the City's HUD-approved Homeownership Zone strategy in a timely manner. HUD required the City to repay $1,086,935 in "unearned" grant expenditures.

On May 14, 2010, you wrote to HUD requesting an opportunity for your new administration to complete the Smith Village Homeownership Zone project without the penalty of a required repayment of funds. Since that time your administration has been communicating with staff in the Community Planning and Development (CPD) Office of HUD's Detroit Field Office about your administration's intention to use the City's Neighborhood Stabilization (NSP-2) funds to build new mixed-income homeownership housing in the Smith Village Neighborhood.
Post Wed Mar 21, 2018 11:20 am 
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untanglingwebs
El Supremo

The Smith Village neighborhood has been designated as an NSP-2 area. The City and the State of Michigan have committed to using their $14.7 million NSP-2 grant to complete 83 units of homeownership housing, of which at least 43 units will be sold to low-and-moderate income homebuyers. The land has been acquired either by the City or the Genesee County Land Bank Authority and dilapidated homes have been demolished. A reconfigured street pattern has been designed to improve safety. New Community facilities are proposed for a future date. The City will also offer low-interest home improvement loans to 70 to 80 existing homeowners..

Although the City's proposal falls short of the units previously required by HUD to avoid repayment, HUD recognizes that the economic conditions in the City of Flint and in the Smith Village neighborhood have significantly deteriorated since HUD's approval of Flint's Homeownership Zone strategy in 1998.
Post Wed Mar 21, 2018 11:35 am 
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untanglingwebs
El Supremo

HUD finds that your commitment to revitalize the Smith Village neighborhood using NSP-2 funds is consistent with the commitment the City originally made to HUD and the residents of Smith Village. Therefore HUD is prepared to terminate the University Park Homeownership Zone with requiring repayment of the $1086,935 in "unearned" Homeownership Zone grant funds.provided that the City specifically commits to the following actions by executing the enclosed "Home ownership Zone Grant Termination Certification."
Post Wed Mar 21, 2018 11:46 am 
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untanglingwebs
El Supremo

1. Maintain its commitment to revitalize the Smith Village neighborhood using Neighborhood Stabilization Program (NSP-2) and other funds available to the City.

2. Develop a minimum of 83 new homeownership units in a concentrated area,of which a minimum of 51 percent will be sold to low and moderate income families.

3. Implement a low income home improvement loan program targeted to 70 80 existing homeowners that support the investment in new housing development.

4. Dedicate the administrative and technical resources necessary to implement the revised Smith Village redevelopment plan as quickly as possible, including effective
coordination among city agencies and priority for City approval processes; and

5. Give priority to the Smith village neighborhood for the commitment of available resources until the 83 homeownership units have been occupied and the 70to 80 existing homeowners have been offered low-interest home improvement loans.
Post Wed Mar 21, 2018 12:01 pm 
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untanglingwebs
El Supremo

One copy of the agreement each to :

Ginger Macomber, Homeownership Zone Program Manager
Keith Hernandez, CPD Director, HUD Detroit Field Office
City of Flint files

After receipt of the Certification, HUD was to close out "for cause" the University Park Homeownership Zone and the CPD Office in HUD's Detroit office would monitor the revised plan.


The letter was signed by Yolanda Chavez, Deputy Assistant Secretary for Grants programs.

CC: Greg Eason, City Administrator
Wendy johnson, Director, Department of Community and Economic Development
Post Wed Mar 21, 2018 12:12 pm 
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untanglingwebs
El Supremo

Mayor Dayne Walling signed the Termination Certification on 10/3/11.

"Whereas on March 7, 1998, the U.S. Department of Housing and Urban Development (HUD) awarded the City of Flint a $,013,000 federal homeownership grant;

Whereas the purpose of this grant was to complete 319 uniits of new homeownership housing in the designated University Park Homeownership Zone which includes Smith Village;

Whereas the City of Flint has expended $1,086, 935 in "unearned" grant funds, and has not complete the Homeownership Zne in a timely manner;

The City of Flint hereby accepts termination of the Flint Homeownership Zone and deobligation by HUD of $894,515 in unexpended grant funds."
Post Wed Mar 21, 2018 12:26 pm 
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untanglingwebs
El Supremo

The aforementioned five commitments are repeated.

"The City of Flint acknowledges that failure to implement these commitments in good faith, may result in HUD's disallowance and recovery of $1,086,935 in Homeownership Zone grant funds previously expended.
Post Wed Mar 21, 2018 12:30 pm 
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