Developer vows Carr grandeur
Published 12:00 am Wednesday, March 11, 2009
Restoring the dignity of the former Carr Central High School while maintaining the integrity of the neighborhood was the theme of four Vicksburg residents who attended a hearing Tuesday on the proposed rehabilitation of the building into an $8.6 million apartment complex for low- to moderate-income families.
“The building means so much to me, but I think it should be torn down if it is misused any longer — unless it can be restored and managed by someone who will keep it from becoming a slum area,” said Ethel Pickens, who graduated from high school in 1953, has organized several school reunions and described herself as the “house mother of Carr Central.”
Rex Todd, a developer with The Landmark Group, presented a layout of the proposed 58-unit complex he said will bring back the vacant building’s historic grandeur, provide much-needed affordable housing and attract families that enhance the Cherry Street corridor that includes residences, rail tracks, a funeral home and churches.
“We have very strict guidelines and we are very picky about our tenants. If they can’t pay the rent or behave, they leave,” Todd said. “We’re not talking about assisted living. It would cost $616 for a one-bedroom apartment. That’s not low income.”
The North Carolina-based group has an option to buy Carr from local owner Webber Brewer, with the sale hinging on tax credits from the Mississippi Home Corporation. The company will know in August if the project is approved. It will also seek state and federal tax credits for historic renovations as well as money from the federal economic stimulus package, Brewer said. Whether the sale closes depends on incentives, he added.
“Demand for these competitive tax credits outpaces the money available three to one, so we have a one in three chance of winning,” Todd said. “Historically, our company has won two out of three times it applies.”
If the tax credits are won, Todd said, the apartment complex would be ready for a grand opening by December 2010. If it does not get the credits, Todd said he will work with Brewer to apply again in 2010.
Qualifications for tenants would be based on the median income for Warren County families, which he said is $50,500. Residents making 50 to 60 percent of the median income would be able to apply for one of the complex’s one-, two- or three-bedroom apartments. Tenants could apply for rent credits they have through state or federal subsidy programs.
Elizabeth Thornton, who lives near the building on Baum Street, asked about the qualification process for tenants, because “once you get a bad tenant it’s like pulling teeth trying to get them out.” Todd said the company — which would also manage the complex — evaluates all applicants following a check of criminal history, credit score, job status and other qualifications.
“We don’t sell the property once it’s renovated. We become your neighbors,” he said. “We have as much interest in getting tenants who can pay their rent and contribute to the community as you do.”
The 85-year-old building has been vacant since 1979, when its use as a school ended. The deed then went to the City of Vicksburg, which had plans to raze it until it was declared a Mississippi Landmark. The city later sold the structure, after the gym on the rear of the building had been destroyed by fire, to local resident Robert Rosenthal — who was turned down several times for tax credits and other government participation.
“We cannot possibly do this without this company,” said Brewer, who purchased the building in May 2007 and has since gutted it, removed debris and abated asbestos. “This is our last chance to preserve this building. We’ve had higher offers for it, but we’ve turned them down because all they’ve wanted to do was put in low-income housing without any concern for historical preservation. We chose to work with this group because they have a track record of doing these projects right.”
Along with a renovation of the existing three-story building, The Landmark Group plans to build 18 new apartments where the gym was formerly located. Based in Winston-Salem, The Landmark Group has completed 80 restoration and new construction projects in the Carolinas, Florida, Georgia, Tennessee, Texas and Virginia. Its property management company manages 2,600 apartments.
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Contact Steve Sanoski at ssanoski@vicksburgpost.com.