2205 & 2207 Martin Luther King Jr. Blvd.
The Thorpe House
HSF is pleased to present a unique development opportunity to create affordable housing and restore a Victorian-era home on Martin Luther King Jr. Blvd. in historic Cuyler-Brownville. The properties are directly across MLK from Wells Park and nearby the former St. Paul’s Academy (soon to be rehabbed into housing). The properties are within walking distance from numerous restaurants, local businesses, SCAD buildings, and located on a CAT bus route. Numerous incentives are available including state and federal rehabilitation tax credits, Enterprise Zone, and technical assistance from HSF through the whole process.
The buyer is expected to redevelop two adjacent properties: 2205 MLK is an existing historic property to be restored and 2207 MLK is a vacant lot to redeveloped with new construction. 2207 MLK must be developed as affordable housing under covenants for 10 years. Both properties will be subject to a preservation easement held by HSF in perpetuity. See next page for details.
Minimum bid $60,000 (These two properties are being sold together. Individual offers will not be considered.) The deadline to submit a proposal is midnight. Friday, October 1, 2021.
There were two identical homes at 2205 and 2207 MLK. The first tenants of 2205 MLK were Adoniram J. Thorpe and his wife Effie. A.J. was the manager of the Singer Sewing Machine Co. Records indicate the Thorpe Family lived in the house for nearly six decades. By the year 2000, the house was vacant and boarded up, and has remained such for 20 years now. The house at 2207 had a fire in 2012 and was torn down the following year. The adjacent 2205 sustained damage in the fire, however, many original architectural features remain intact including hardwood floors throughout, pocket doors, wainscoting, and an impressive main staircase with diagonal tongue & groove details.
Affordable Housing Requirement
2207 MLK is a developable lot. HSF is requiring the potential buyer of this property to develop the property as affordable housing. During the “Affordability Period” (10 years), the Purchaser or any successor or assign must abide by the following parameters:
- 100% of the units developed on the vacant lot at 2207 MLK must have a rent not exceeding the U.S. Department of Housing and Urban Development (HUD) published Fair Market Rents for Chatham County.
- Those same units must abide by the following income eligibility standards; Those units must not have a household income that exceeds 120% AMI (Area Median Income).
If at any point during the tenants’ occupancy, after initially meeting income eligibility, their household income increases to exceed 200% AMI or more, they will no longer be eligible to remain in said unit.
- Tenants will then have until the end of that lease period to relocate. Upon verifying income eligibility, the Purchaser is not to extend the lease of any tenant who exceeds this threshold. Tenant is to be made aware of this term of occupancy prior to moving in.
- The aforementioned standards of affordability apply to the real estate of the property during the Affordability Period.
Preservation Easement Requirements
As a condition of sale, Historic Savannah Foundation will place a protective easement on both properties, which requires HSF’s review and approval of any new construction; or changes to the existing historic building (to include oversight of certain interior elements). The easement is a legally enforceable deed restriction and runs with the property in perpetuity. Per the easement, substantial work on the subject properties must commence within 5 months of closing, and completed within 18 months of that same date. The rehab and new construction may be executed simultaneously, or in separate phases. If a phased approached is preferred, then the rehab of the historic house at 2205 MLK must be completed first. The time period between phases is subject to approval by HSF.
If you have any questions about the process or property, please contact Ryan Jarles at firstname.lastname@example.org or call 912-233-7787.
HSF’s Revolving Fund Committee will review proposals using a 100-point scoring system based on the following: bid amount (25 points); past experience with historic properties (25 points); intended end-use and preservation plan (25 points); committee discretion based on their knowledge and experience with projects of this kind (25 points).
The deadline for submitting complete bid packages is midnight on Friday, October 1, 2021. Offers can be submitted on-line or by mail to HSF’s office @ 321 E. York St., Savannah, GA 31401