the NHP FOUNDATION
afforable housing in MARYLAND
Housing in Hagerstown, MD
Alexander House was built in 1928 as a hotel in the Renaissance Revival style and renovated in 1978 to accommodate
95 residential units set aside for low-income elderly aged 62 and over, and the disabled. The ten-story property, prominently located in the center of downtown Hagerstown, also includes over 30,000 square feet of commercial and community space.
Alexander House consists of 68 studio and 27 one-bedroom units. 100% of current households receive rental subsidy through a project-based Housing Assistance Payment contract with HUD.
The purchase price for this property was $5,700,000 and financed 100% by Enterprise Community Loan Fund. Acquisition and closing costs were covered by NHPF equity and a loan for predevelopment expenses is being provided by Falls Church Development Corporation. Secured financing and funding for this project include: