Washington Gardens in Hagerstown, MD is POAH's only purchase to date in Maryland which, according to research by the National Low Income Housing Coalition, is the 6th most expensive state in the nation for renters. In Hagerstown, about one-third of all families are renters and preserving the 100 apartments at Washington Gardens was essential to ensuring their future affordability for families of limited means.
Built in 1982, the development comprises seven 2- and 3-story buildings including 64 townhouse structures with a mix of 1-, 2-, 3- and 4-bedroom apartments on a handsome, 10-acre wooded site with walking paths and mature trees. POAH assembled support from public and private entities including HUD, the Maryland Community Development Administration the National Equity Fund, Prudential Mortgage Capital and Fannie Mae. The financing combined Low Income Housing Tax Credits and tax-exempt bonds and a 20 year Section 8 rent subsidy contract ensures that rents will remain affordable to future generations of Hagerstown families of limited means.
Renovations focused on the building envelope and major systems; roofs, windows and siding were replaced as well as heating and cooling systems and electrical. Apartments received new paint and flooring and many kitchens and bathrooms were upgraded. The children's play area in the center courtyard was renovated and enhanced site lighting and security cameras provide site safety.
- Maryland Department of Housing and Community Development
- Fannie Mae
- National Equity Fund