A new development is providing 163 affordable and market-rate homes to seniors in Oxon Hill, Maryland.
Developed by Homes for America in collaboration with the Housing Authority of Prince George’s County and Foundation Development Group, the new community is a five-story elevator building with a mix of one- and two-bedroom apartments.
“We are deeply committed to residents of our communities and to ensuring that our properties serve as valued additions to the neighborhoods they belong to. With the opening of Homes at Oxon Hill, we take another significant step toward fulfilling this mission,” said Dana Johnson, president and CEO for Homes for America. “We are particularly excited to celebrate our first development in Prince George’s County. We thank the Housing Authority of Prince George's County, Foundation Development Group, and our other project partners for their invaluable collaboration in bringing this community to fruition.”
Seniors can enjoy a library and computer room, a fitness and wellness room, a multipurpose gathering space, and other amenities, according to Ron McCoy, acting executive director of the housing authority.
The Maryland Department of Housing and Community Development (DHCD) provided $24.6 million through tax-exempt bonds enhanced by Fannie Mae and Citi Community Capital for the development. Additional financing included a $33 million construction loan from Citi; $12.8 million of low-income housing tax credit equity from Enterprise Housing Credit Investments; $3.5 million of state Rental Housing Works funds; $600,000 from the DHCD Partnership Rental Housing Program; $489,000 of state Multifamily Energy Efficiency and Housing Affordability grant funds; and $1.5 million in HOME funds from the county Department of Housing and Community Development. The housing authority owns the ground lease.
The development team partners also include Quinn Evans Architects, Harkins Builders, Soltesz Civil Engineer, Pando Alliance, and Humphrey Management.
