Victoria Park at Walkersville held its Grand Opening and Dedication on June 4, 2009. Guest speakers included John Maneval, Deputy Director, Multifamily Housing, MD Department of Housing and Community Development and Chad Weddle, Member of the Walkersville Board of Commissioners. The community was dedicated to the Burgess and Members of the Walkersville Commissioners.
The community is a partnership between Osprey Property Company and Glade Valley Community Services. Victoria Park consists of 80 affordable apartments for independent adults 62 and older and is located at the 105 Sandstone Drive, on the corner of Route 194 and Sandstone Drive in Walkersville, Frederick County, Maryland.
Victoria Park is an attractive 3-story building with numerous amenities including two elevators, a large multipurpose room, computer center, fitness and health room and a Florida room. There are outdoor patios and walking areas. Eighty (80) one and two bedroom apartments range in size from 672 s.f. to 1,035 s.f. are equipped with a full size kitchen a refrigerator, oven, garbage disposal, and generous amount of cabinets and countertop space. Apartments have individually-controlled heating and air conditioning and wall-to-wall carpeting. Ten percent (8) units are handicap accessible. Rents range from $605 to $1030 and serve seniors earning between 40% – 60% of the area median income.
Victoria Park offers a wide range of resident services including health and wellness program, educational opportunities, computer classes and social events.
The community was received supported from: Maryland Department of Housing and Community Development provided $1.5 million in Rental Housing Funds; Frederick County provided a $100 reduction per unit Payment in Lieu of Taxes (PILOT); and the Commissioners supported the project with a Local Resolution; waiving of school fees and provided a Resolution Approving a Special Exception for Senior Independent Living Communities and a reservation of 39 water taps at reduced rates.
The development team has expertise in constructing, financing and operating affordable senior housing. Osprey Property Company and Habitat America have owned and operated affordable communities since 1995 in Maryland, Virginia and Florida. Other members are Grimm & Parker, architects and Harkins Builders, Inc.; general contractor; Aumen Asner, interior design; AGM Financial Services, Inc.; private lender; and MMA Financial Services; equity provider.
Osprey Property Company has developed over 1,000 units of senior affordable housing and in 2005 was named Developer of the Year by former Maryland Governor Robert Ehrlich. Victoria Park at Walkersville was awarded the 2008 Commitment to Excellence Award for Rental Housing Sustainability presented by Secretary Raymond A. Skinner at the Governor’s Annual Housing Conference.
Funding includes tax credits of $6 million; a state loan of $1.5 million; and a conventional loan of $4.7 million with a total development cost of $12.8 million. The building was constructed within 10 months and came in under budget and opened in June, 2008
For more information contact info@ospreypc.com