May 20, 2019

Celebrating the Financial Closing of the Park View Portfolio in Nottingham, Maryland!

Houses from the Park View Portfolio in Nottingham, Maryland

Enterprise Homes is excited to celebrate the financial closing of the Park View Portfolio in the Nottingham and Gwynn Oak neighborhoods in Baltimore County, Maryland. The development will preserve 201 affordable homes for seniors across two properties: Park View at Woodlawn and Park View at Taylor. The rehabilitation will improve accessibility and livability at both properties.

R Home will coordinate and provide resident services including transportation, social activities, and referrals. The properties have access to grocery, shopping, and healthcare via public transportation or resident service transportation provided by R Home.

Financing

Construction Financing includes $16.2 million of bonds from Maryland Community Development Administration (CDA). Permanent Financing includes a $15.2 million FHA loan provided by Bank of America Merrill Lynch, $1.98 million of CDA Elderly Rental Housing Program funds, $5 million of CDA Rental Housing Works funds, $487.694 of CDA EmPower funds, $347,554 from Baltimore County, and $1 million from Enterprise Homes, provided by FHLB. Enterprise in proud to provide $8.78 million of equity on behalf of Bank of America Merrill Lynch.

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