Active Projects
Tevis Place
In partnership with TM Associates, Tevis Place is a new development project that will provide 154 units with 31% Attainable Housing serving larger families with 3-bedroom and 4-bedroom apartment homes. This project will be one of Montgomery County, Maryland's first fully designated 100% Moderately Priced Dwelling Units (MPDU) communities. Construction is slated to begin Q4 2025.
Details
Type: Family
Location: 11800 Nebel St., Rockville, MD 20852
Units: 154
TDC: $95 Million
Tax Credit Equity: $26 Million
Financing: MD DHCD Long Term & Short Term Bonds ($43,485,000); 4% LIHTC Equity
Montgomery County DHCA Housing Impact Funds ($15 Million)
Montgomery County In-Kind Funds ($4 Million)
Montgomery County Green Bank ($10 Million)
Deferred Developer's Fee ($4 Million)
Deerfield
Deerfield is a 39-unit affordable elderly apartment community in Crewe, Virginia. The community is planned to undergo a substantial renovation in Q2 2024 utilizing a 2023 9% Tax Credit award from the Virginia Housing Development Authority. The project financing also includes a USDA-RD Section 515 Loan.
Details
Type: Elderly
Location: 1651 W Maryland Ave, Crewe, VA 23930
Units: 39
TDC: $5.7 million
Tax Credit Equity: $3.55 million
Financing: USDA-RD, LIHTC
The Coile
The Coile is a proposed 62-unit affordable multifamily development to be located in Newport News, Virginia. This project consists of two buildings approximately four blocks from one another. Each building will have a “flex unit,” a 2-bedroom unit that can be split into two separate 1-bedroom units depending on current market demand. Modern "green" features include solar benches, Newport News’s first bikeshare, a grey water irrigation system, and a Pavegen children’s game. Such innovation is scarcely found in the comparable affordable housing. Construction is slated to begin Q2 2024.
Details
Type: Family
Location: 80 29th St, Newport News, VA 23607
Units: 62
TDC: $15.2 million
Tax Credit Equity: $8.5 million
Financing: LIHTC
Diamond Court II
Diamond Court II is an existing affordable multifamily development located in Harrington, Delaware. The property consists of 32 apartment units originally constructed in 1989 with USDA-RD financing. PrimeCHD plans to renovate the community utilizing a 2021 9% tax credit award from the VHDA. Construction is slated to begin December 2023.
Details
Type: Family
Location: 35 Diamond Court, Harrington, DE 19952
Units: 32
TDC: $10.1 million
Tax Credit Equity: $5.2 million
Financing: USDA-RD, LIHTC