April 17, 2018

Celebrating the Grand Reopening of Golden Ring Co-op

Golden Ring Co-op in Essex, Maryland

Enterprise would like to congratulate CSI Support & Development Services and Zion Evangelical Lutheran United Church of Christ on the Dedication and grand reopening of Golden Ring Co-op in Essex, Maryland! Golden Ring Co-op provides 154 homes for seniors and offers significant opportunities for tenant involvement through the co-op model of management.

Tenants have access to quality of life services such as a mobile grocery, an onsite sundry shop, transportation and a meal program offered at no cost to the tenants. The building’s rehabilitation included updates to unit kitchens and bathrooms as well as common areas to make them more inviting and encourage resident use and engagement. Golden Ring Co-op is nationally recognized as “A Community of Quality” by the National Affordable Housing Management Association.  

Financing

Wells Fargo provided $10 million in construction financing. Permanent financing includes $6.2 million from AGM Financial, $1.9 million from Maryland CDA Rental Housing Works, $2.1 million from Maryland CDA Rental Production Program and $1 million of Baltimore County CDBG funds. Enterprise was thrilled to provide $5.6 million of equity.