Affordable-Housing Complex Sells for $5M

HALETHORPE, MD-In a $5.4 million deal with seller Lansdowne Apartments LP, affordable-housing developer AHC Inc. acquired the Lansdowne Apartments, a low-income housing complex just across the Baltimore County line from the City of Baltimore. The property, which is saddled between I-295 and Patapsco Ave. on Tionesta Rd., features 167 designated affordable-housing units.

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.