With funds culled from Federal Low Income Housing Tax Credits and a Maryland tax exempt bond, AHC will submit the complex to a substantial renovation which is scheduled to get under way next March. The acquisition marks AHC's second such project in the Baltimore area since it partnered with Struever Brothers, Eccles & Rouse Inc. to purchase and upgrade the 189-unit Greenspring Overlook Apartments.

"Our efforts are increasingly important in high-cost urban areas where hardworking families struggle to find decent, affordable places to live," notes Walter D Webdale, AHC president.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.