Hollander Ridge 3000 Rockwood Avenue, Baltimore, MD 21237 / 94 units
Working with the Housing Authority of Baltimore City, NHPF acquired and undertook a major rehabilitation of Hollander Ridge, a 94-unit, single-family home RAD redevelopment available to families who earn 60% of AMI or less in Baltimore City, Maryland. These homes are in neighborhoods described as areas of high opportunity, with strong and diverse communities, high performing schools, low crime, low rates of poverty and
neighborhood amenities including access to grocery stores, medical facilities and community centers. The single-family housing types are representative of the City’s architectural diversity which includes townhomes, single-family detached and semi-detached homes. Since all residents were newly moving in from other housing, no relocation efforts were involved. The acquisition and redevelopment costs of the Hollander Ridge development totaled $41 million.
Overlook Manor Townhouses 121 Tillman Place, Frederick, MD 21703 / 63 units
Overlook Manor was acquired on November 24, 2020 and is planned for a moderate rehabilitation using a HUD-insured mortgage, short-term tax-exempt bonds and Low-Income Housing Tax Credits. The property was built in 1985 and contains 63 townhouse units in 9 buildings (plus an office). The moderate rehab would include replacement of most kitchen and bathroom components, HVAC equipment, water heaters, windows, light
fixtures and flooring. Substantial work would also be done to the building exteriors, such as replacement of all roofs that haven’t been replaced in the last few years, and patching/seal coating of the parking lot. In addition, extensions would be added to the first floor of three end units to create barrier free (ADA) units.
Princess Anne Townhouses 30475 Pine Knoll Drive, Princess Anne, MD 21853 / 120 units
This year-15 tax credit property has 120 LIHTC units with 54 units covered by a Section 8 contract, each featuring two, three or four bedrooms. NHPF acquired the garden-style property in 2018 and committed to providing updated kitchens, baths, major HVAC systems, and in some cases, additional bedrooms to provide increased accessibility. This renovation will provide temporary onsite relocations for all residents.
Post-rehabilitation Princess Anne will be an energy-efficient property in compliance with Enterprise Green Standards, and the property will also benefit from resident services via NHPF’s subsidiary Operation Pathways. Community amenities include a freestanding brick clubhouse with leasing offices, on-site laundry facility, business center and fitness center, along with a large central playground. The renovation of Princess Anne will be completed in 2022, with 100% of residents being relocated on site during the rehabilitation.
NHPF BUILDS MARYLAND
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