Officials celebrated the opening of a 38-unit mixed-income townhome development in Jessup, Maryland.
Brock Bridge Landing is co-developed by Woda Cooper Cos. and Interfaith Housing Alliance, which also coordinates on-site resident services.
“In a time when too many working families and older adults are being priced out of their communities, my administration is using every tool we have to deliver more quality, affordable rental homes like the ones here at Brock Bridge Landing," said Anne Arundel County executive Steuart Pittman. "We’ve prioritized our federal HOME funds to support developments that keep rents within reach. This is how we build a county that is affordable for everyone, not just those at the top.”
Brock Bridge Landing has six two- and 32 three-bedroom townhomes. Thirty-four of the homes are reserved for residents with household incomes of 30% to 60% area median income (AMI), or about $36,660 to $73,320 for a family of four.
There are four more townhomes offered at market rate without income restrictions. The Baltimore Metropolitan Council provided rental assistance for eight townhomes.
Six homes have accessibility features for residents with mobility challenges or sight or hearing disabilities. Primary financing for the approximately $24.4 million development was made possible through the allocation of low-income housing tax credits by the Maryland Department of Housing and Community Development.
Bank of America invested in the tax credits and provided the construction loan. Berkadia is providing a first permanent mortgage.
The architect is Architecture by Design, with civil engineering by Boyd & Dowgiallo and general contracting by Woda Construction. Woda Cooper’s management affiliate Woda Management & Real Estate performs leasing and property management.
Brock Bridge is one of several recent developments spearheaded by Woda Cooper.
Along with co-developers Parallel Housing and the Warner Robins Housing Authority (WRHA), the firm recently broke ground on The Terraces at Oscar Thomie, an 81-unit affordable housing community in Warner Robins, Georgia. In addition, the $23.5 million property will include new office space for WRHA.
