Kairos Group -- Housing Development Project

Kairos Development Corporation, Inc.

"Empowering People—Building Communities"

Housing Development Projects

Thomas Edison Tract Development: The County initiated requests for proposals (RFPs) for development of eleven County-owned land sites. A Kairos-led team’s RFP was successful in winning the development of the 29-acre Thomas Edison site located in Camp Springs. The Kairos-led RFP proposed an empowering CHDO Pilot Program model that: expands organizational capacity; leverages private-sector participation; creates unique partnerships; develops self-sufficiency; and enhances the community and County. The experience, knowledge and resources obtained from this Pilot Program model will enable CHDOs to become “social-economic developers” attuned to the social and housing needs within the County’s communities. As CHDOs become self-sustaining, financial dependence on County funding will diminish, thereby freeing resources that can be used to develop new CHDOs, with the self-sustaining CHDOs becoming their mentors. The communities and County benefit from increased social services and homeownership which create stable neighborhoods, improved standards of living, vibrant communities, and minority businesses growth opportunities.

Kairos proposes to create a neotraditional residential mixed-income, livable and vibrant community that adds value to the surrounding communities and brings many benefits to the County. The proposed development will be named “Kairos Crossing.” The proposed community will be a cross-section of moderate and high-income populations. The pedestrian-friendly and environmentally sensitive community will include amenities (such as community walking/jogging trail, picnic areas, gazebos, toddler lots, abundant green space) that provides families with places to exercise, play and relax. A spirit of neighborliness will be encouraged as residents enjoy the amenities, creating community bonding and accentuating the quality of life.

Kairos proposes to build 74 residential homes at market-rate pricing (estimated at $480K to $580K). Kairos has commitments from two exceptional homebuilders to provide the superior quality residential homes, NVR/Ryan Homes and McDaniels Homes Builders (a County minority-owned builder).

In addition, our program will include a partnership arrangement between Kairos and McDaniels Home Builders to construct ten (10) homes. This partnership is a major component in our Pilot Program that will greatly assist Kairos in becoming economically self- sustaining. McDaniels is committed to working with Kairos in such a manner that will create additional organizational capacity, know-how and knowledge for Kairos.

The Kairos-led team must negotiate the development documents during 2006. The project is envisioned to start in late-2007 or early 2008. This is an estimated $28-million project

Middleton Lane Developments: Workforce Housing & Senior Housing Complex: Workforce Housing: One of the Kairos-owned residential homes sits on a 1.4 acre lot that will be demolished and up to eight(8) family (about $360K - $425K) may be built on this site. To aid in reducing the construction costs, Kairos is considering utilizing modular homes for the site. Kairos is also exploring a creative arrangment that would allow "linking" purchase of these homes from "move-up" buyers with the agreement that their homes will be sold to first-time homebuyers. We plan to target townhome and condominium owners. Senior Housing Complex: With the single-family housing acquisitions in 2004, Kairos will have adequate acreage to pursue a senior housing development. Five of the seven (7) residential homes will be replaced by a senior affordable housing development. Kairos has tentatively agreed to a Bank of America partnership for the development. Kairos will seek public funds for the feasibility and predevelopment tasks. The proposed senior housing complex will consist of at least 150 independent living apartments. This is an estimated $43-million project. Kairos intends to use its CHDO operations and resources to empower individuals and build progressive community stakeholders.

Naylor Road Metro Site: Transit Oriented Development With its many housing successes, Kairos was unable to obtain funding for a replacement parking garage at Branch Avenue Metro Station. The project required public funding and the resources from the State were unavailable. Kairos intends to continue pursuing a community and economic development project around transit-oriented development (TOD).