Renovations are underway at the 77 townhouse community called Cedar Hill Apartments in North East, Maryland. Cedar Hill Apartments, built in 1981, consist of 10 buildings and is located on 8.77 acres off Route 40 in Cecil County. Cedar Hill is a partnership between Osprey Property Company and Home Partnership of Cecil County who purchased the property in December 2009.
Osprey Property Company has been developing affordable multifamily and senior communities in Maryland and Virginia since 1988. Osprey has received numerous awards for its projects and in 2005 was named Maryland affordable developer of the year by Gov. Robert Ehrlich. Home Partnership’s mission is to expand access to affordable and successful homeownership for low and moderate-income families and to combat community deterioration thereby strengthening communities. HPI serves residents of East Baltimore, Harford and Cecil Counties. HPI works to create successful homeowners and strengthen communities through programs such as housing counseling, home buying education, financial literacy training and housing development services. HPI will bring its successful Home Buyer Education, Housing Counseling and Financial Literary Training programs will be extended to the residents of Cedar Hill.
Renovations costs of $2.8 million will consist of a 900 square foot community center which will include the management office and a multipurpose room with kitchenette. The two, three and four-bedroom townhouses ranging in size from 695 square feet to square feet to 1245 square feet. Exterior renovations will include new facades, vinyl, windows, landscaping, sidewalks, speed bumps and additional lighting.
Selective interior renovations will include new cabinets and countertops, appliances, lighting and ventilation, HVAC systems, and hot water heaters. All units will receive new bathrooms, vinyl plank flooring and carpeting, painting and the installation of dishwashers. A new 2200 square foot playground and recreation area for children 2 to 12 years old will be built in the center of the community.
The development team also included Grimm & Parker, architects; Hamel Builders, general contractor; and Habitat America, property manager. Total project costs are $7 million with financing from The Columbia Bank/Fulton Financial of $3.7 million in Affordable Housing Tax Credits; $2 million in DHCD’s Tax Credit Assistance Program (TCAP) Funds from the American Recovery and Reinvestment Act (ARRA); a $192,500 loan from the Multifamily Energy Efficiency and Housing Affordability Program (MEEHA) Program; and $1.33 million in assumed HUD debt.
Renovations will be completed in summer 2010 and then the community will be renamed North Bay Apartments. For more information contact info@ospreypc.com