Enterprise Homes, Inc., celebrated the opening of its latest affordable housing development, The Greens at Hammonds Lane Seniors Apartments.
Located in Anne Arundel County, Md., the $14.5 million development has 72 one-bedroom and 18 two-bedroom apartments for low- and moderate-income seniors.
“The opening of the Greens at Hammonds Lane is the result of an amazing collaborative effort among the private and public sectors that will afford seniors in Anne Arundel County affordable housing that is safe, sustainable, and accessible,” said Chickie Grayson, president and CEO of Enterprise Homes. “Enterprise recognizes the importance of providing the growing senior population with opportunities to age in place and will continue to produce this critical housing throughout the region.”
The development was certified as meeting the Enterprise Green Communities Criteria. It features energy-efficient, double-pane windows, water-conserving plumbing, Energy Star appliances, and energy-saving light fixtures, and green label carpet.
The Greens at Hammonds Lane was financed by Capital One Bank, which provided about $24.9 million in specialized financing to the development, including $10.3 million in low-income housing tax credit equity. Additional funding partners include Anne Arundel County HOME funds through Arundel Community Development Services and a Multifamily Energy Efficiency and Housing Affordability Program grant administered through the Maryland Department of Housing and Community Development. Enterprise Community Investment, Inc., syndicated the tax credits. Enterprise Community Partners provided an Enterprise Green Communities grant to support the development’s sustainable features.
