Affordable & Mixed-Income Redevelopment
Large-scale redevelopment of an aging community into a modern, sustainable residential destination. Replaced 540 dilapidated units with modern garage apartments across 29 buildings.
- 409 affordable and mixed-income units
- Multi-phase redevelopment with upgraded infrastructure
- Extensive environmental remediation, serving as a model for sustainable, intergenerational redevelopment
- Prevented displacement of residents under the Uniform Relocation Act
- Partnered with local law enforcement in revitalization efforts
- Largest state bond issuance ever executed at the time of development
- Financed with investor equity, State, HUD, and Prince George’s County resources
Total Development Cost: $71M
Construction Cost: $34M
Status: Completed and stabilized