Phase I of IV Renovations Sheffield Towne 2008 Fiasco

Overview

The Sheffield Towne Fiasco!  Phase one of four renovations. Phase I will included only 161 out of 592 units located among 25 buildings. Phase I will included all of the Tudor style units (these have a white stucco board finish with brown wood framing and cross members), plus some additional buildings in the area northeast of the intersection of Walnut Lane and Bode Road. Buildings on Flintshire, Dunbar, Mansfield, Fenwick, Hanley, Largo, Portland, Carlisle, Carnaby, and Cheltenham will be affected.

Buildings included in Phase I were chosen based on perceived need and the desire to keep each phase of renovations within a defined area. The exact number of buildings included in Phase I will depend upon final bids and financing costs.

Issues and Plans that Updated the Buildings to Code.

Scope of Work:

Work to be completed in Phase I includes:

1. Installation of new vinyl siding (mid-grade).
2. Replacement of all roofs with architectural grade shingles.
3. Replacement of gutters with oversized 6” gutters and oversized 3”x 4” downspouts.
4. Replacement of concrete stoops and in some cases – sidewalks.
5. Power wash of all brick surfaces, tuck pointing and replacement of brick as required.
6. Tear down of existing wood fences and replacement with new design vinyl fence.

Some architectural changes – intended to correct long-standing deficiencies in the original construction and/or enhance the look of units - will also be made during the renovation process. These include:

1. Revise Granville model canopy.
2. Add canopy to Dorchester.
3. Extend soffitt on Chatham model, replace plywood decking and add gutter and downspout system.
4. The front entry way on Kent model will be redesigned and replaced to eliminate awkward access and drainage problems.
5. Existing wood columns on Berkshire model columns will be replaced with aluminum columns.
6. Possible removal of roof balconies and replacement of sliding doors with window.

Goal

The goal in renovation planning has been to make buildings as maintenance free as possible while maintaining architectural interest and unit variety. Accordingly:

1. All surfaces will be vinyl or aluminum clad.
2. Shutters and flower boxes will be eliminated.

It is anticipated -based on the experience of similar projects - that property values can increase 10-15% as a result of renovations. This assumes normal market conditions.

Cost

Phase I will cost approximately $2,000,000 and will be financed through a bank loan (approximately $1,500,000) as well as Association reserves (approximately $500,000). ( ACTUAL COST $5,000,000)

Approximately $500,000 will be maintained in association reserves to meet bank requirements, facilitate window replacement, and handle any unanticipated expenses.

Project Management

Due to the scope and expense of Phase I, the board will hire Coder Taylor Associates to act as instruction/project Managment . The board feels that this is necessary to ensure that work is completed on time and that quality and design standards are maintained. In addition, it is expected that the construction Managment will help to resolve the many issues (such as reinstallation of fences and satellite dishes) that inevitably arise during renovations.

Additional Phases (II-IV)

It will take approximately four (4) phases of work to complete all the units in Sheffield. The timing of additional phases will depend entirely on available financing and the success of the upcoming homeowner referendum.

Prepared by Doug Grier
President, STA Board of Directors
3/28/08