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BALTIMORE — Enterprise Community Development, Inc. has closed on financing for Magnolia Gardens, the first non‐age restricted 9% Low Income Housing Tax Credit (LIHTC) development to be built in Charles County, Maryland. Once complete, Magnolia Gardens will feature 72 new apartments in La Plata and will represent the first development in Charles County for Enterprise Community Development.
“We’re thrilled to be starting construction on Magnolia Gardens and building much needed affordable apartments for the area’s workforce” said Christine Madigan, interim president, Enterprise Community Development. “We look forward to being part of the community and making these new homes available to local residents.”
Comprising four garden apartment buildings, Magnolia Gardens will feature one-, two-, and three-bedroom affordable apartments serving households at income levels from 20% of area median income (AMI) to market rate. Twelve apartments will be available to families and persons with disabilities with incomes at 30% AMI or below. The community will be energy-efficient and offer robust amenities, featuring an on-site clubhouse with a club room, computer center, and fitness center. Magnolia Gardens also will feature on-site parking and outdoor recreation areas.
Located in an area with a high homeownership rate, high median income, and excellent schools, Magnolia Gardens will provide much-needed housing options for the Charles County workforce. This community will offer future residents walkability and access to employment, shopping, health care, recreation, services and transit.
The total investment costs for Magnolia Gardens amount to nearly $30 million, with financing secured through a senior mortgage facilitated by Bellwether Enterprise, combined with 9% LIHTC equity, and substantial contributions from Federal Home Loan Bank of Atlanta’s Affordable Housing Program, the Rural Maryland Council’s Rural Maryland Prosperity Investment Fund, Maryland Community Development Administration’s Development Relief Funding, the Capital Grants Program administered by the Maryland Department of General Services, and the Maryland Department of Housing and Community Development. Charles County provided financial support through a Payment in Lieu of Taxes (PILOT) agreement.
Architecture by Design is the project architect; Harkins Builders serves as the general contractor; and Lorenzi, Dodds & Gunnill is the civil engineer. Enterprise Residential will provide property management and resident services.
There goes la plata
Time to move out
lol. Afraid of a disabled senior?
Your line of thinking is the problem, not the residents of Magnolia Gardens. I do agree though, You SHOULD move! Hatred is not welcome
Afraid of a disabled senior? lol.
Your ignorance is showing.
But I totally agree! You SHOULD move!
There’s no room for HATERS like you.
Indeed… moving out has nothing to do with “hate”… as the comments below states…I’m African American & I don’t want to be surrounded by crime.. that was one reason I moved to LaPlata… more land and not being on top of my neighbors…
great. good schools in charles county? are you kidding me? hardly not!! thanks for bringing in more crime. we are all going to suffer now.
local residents? yeah, sure. bring some of Baltimore, DC and PG in la plata. if you want it to be “local residents” then keep it local. if not, then I am calling it BS.
How do you apply for an apt. at magnolia garden apartments
Hey my name is Tiffany McCormick and my mom and I are looking for affordable housing.We are both disabled,we are looking for a one level home with no steps.she is 68 and I’m 35
Hi, how do I apply or get on the list.
you have to go on the website and apply