Number of Units

122

Year Developed

2018

Development Costs

$27.9 million

Goal

New Construction of affordable senior housing with associated amenities in Prince George’s County, MD

Description

The Belnor Senior Residences is a 122-unit new construction affordable senior apartment complex located in Suitland, MD.

 

The 4-story building is well situated along St. Barnabas Road with excellent accessibility to nearby shopping and transit, while backing up to a wooded area, walking path, and stream.  Green design features include Energy Star appliances, efficient individual HVAC units, and low VOC materials for improved indoor air quality.  Amenities include a two story club room, a library, a fitness center, putting green, community garden, and green house.

 

The development was financed using a HUD 221(d)4 loan through AGM Financial with Wells Fargo; Maryland CDA Tax Exempt Bond Financing in coordination with Stifel; CDA Rental Housing Works; Prince George’s County DHCD HOME funding and PILOT; San Francisco FHLB AHP grant; and low income housing tax credit equity through Hudson Housing Capital.

 

The project was developed in partnership with the LAB Group and The Henson Development Company.