CNH owns several multi-family developments that provide quality, affordable rental opportunities. A brief summary of developments is described below.
Fremont Townhouses – CNH built this 1.6 million 12-unit townhouse development in 2005, which targets low income families. The development features 2 and 3 bedroom rental units for families who earn between $15,000 - $25,000 per year. Rents for 2-bedroom units are from $290 - $360 per month and 3-bedroom units will rent for $335 - $485 per month plus utilities. Each unit contains a garage, washer and dryer, central air conditioning, internet and cable TV connection, multiple bathrooms, dishwasher, garbage disposal and porches. Property managed by KMG Prestige Property Mgmt.
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Chapita Hills – CNH purchased this 24-unit existing rental development located in Shelby, Oceana County in September of 2007. This property is committed to providing affordable rental housing for low income farm laborers. $870,000 was invested into the property for total rehab improvements of the apartments and the construction of a new community building including an office and laundry facilities. This property is one of the only two off farm labor housing developments in the state of Michigan. Property managed by KMG Prestige Property Mgmt.
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Senior Wedgewood Apartments – CNH purchased this existing senior citizen affordable housing development (built in 1986) located at 216 Meadow Hills Lane, Fremont in December of 2007. The development is comprised of 20 one-bedroom/one-bath units in a one story building with a common hallway, community room and on site laundry facilities. CNH utilized the Low Income Housing Tax Credit Program in conjunction with USDA Rural Development financing to invest $240,000 worth of major renovations in an effort to provide preservation of quality, affordable housing for many years to come. Property managed by KMG Prestige Property Mgmt.
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Meadow Hills North Apartments – CNH purchased this existing 48 unit multi-family development in May of 2008. It is located at 106 Meadow Hills Lane, Fremont and comprised of 6 two-story buildings consisting of 24 one-bedroom/one bath units, 20 two-bedroom/one bath units and 4 three-bedroom/one bath units, all with common hallway access. CNH utilized Low Income Housing Tax Credits along with USDA Rural Development financing to invest over $930,000 in rehabilitation upgrades to this 35 year old development. The re-hab upgrades help to reduce maintenance, increase energy efficiency, enhance curb appeal and provide increased tenant comfort and convenience. Property managed by KMG Prestige Property Mgmt.
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Southwoods Retirement Apartments – CNH owns and manages this 10 unit duplex development in Fremont that targets elderly Newaygo County residents and makes them affordable to those earning 80% of area median income ( for one person -$29,050 maximum income allowed). Each unit is approximately 800 square feet with a full kitchen, bathroom, living room and bedroom. This property is adjacent to ArboretumPark, contains six carports, off-street parking, coin –operated laundry, storage space and a large community room for resident use.
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