Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HALETHORPE, MD-Lansdowne Garden Apartments, a 167-unit affordable-housing community on the outskirts of Baltimore, will be overhauled at an estimated $13.8 million to complete. Lansdowne Garden owner Greater Baltimore AHC Inc., formerly the Arlington Housing Corp., acquired the multifamily property for $5.4 million last summer.

The nonprofit developer received the bulk of the funding for the complex’s restoration through a $9.5 million Multifamily Bond Program loan and $414,000 in Federal Low Income Housing Tax Credits from the Maryland Department of Housing and Community Development. The tax credits will allow the owner to raise about $3.8 million in private equity.

Linden Contracting Inc. is serving as the general contractor on the project. Equity Management Co. will take on the role of property manager upon completion of the upgrade.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.