ACQUISITION / PRESERVATION / REDEVELOPMENT

Holly Spring Meadows

Holly Spring Meadows is a hidden treasure in Forestville, Maryland. A secluded entrance leads to a stunningly landscaped, garden-style community. Holly Spring Meadows offers 224 one-, two- and three-bedroom units. The majority of the one-bedroom units also have dens. All the three-bedroom/three-bath units also have an additional half-bath. This well-lit community provides a comfortable environment featuring 24-hour service and an on-site public bus stop.


TOTAL COST
$ 20,607,970

DESCRIPTION
Holly Spring Meadows is comprised of 48 one-bedroom, 64 one-bedroom plus den, 96 two-bedroom, and 16 three-bedroom units. At least 66% of current households are at or under 60% AMI, making them income-eligible for tax credits. The majority of those income-eligible households are working families, with more than 60% earning between 30% and 60% AMI.

FINANCING
Secured financing and funding for this project included:
$ 14,430,000PNC Bank
$ 6,177,970National Housing Preservation Fund




FOLLOW OUR COMMUNITY BUILDING

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NHPF’s diverse income and rent structure provides housing for a range of households from low to moderate income. Notwithstanding income levels, the same level of amenities and access to our services is offered to all residents.

This property is just one example of how NHPF’s commitment to affordable housing has helped American families.

ABOUT THE NHP FOUNDATION
Headquartered in New York City with offices in Washington, DC, and Chicago, IL, The NHP Foundation was launched on January 30, 1989, as a publicly supported 501(c)(3) not-for-profit real estate corporation. NHPF is dedicated to preserving and creating sustainable, service-enriched multifamily housing that is both affordable to low and moderate income families and seniors, and beneficial to their communities. NHPF also provides a robust resident services program to more than 28,000 community residents. Through partnerships with major financial institutions, the public sector, faith-based initiatives, and other not-for-profit organizations, NHPF has preserved 81 properties, totaling 14,259 units in 19 states and the District of Columbia. Today, NHPF’s portfolio includes 40 properties, totaling 6,801 apartment units, in 16 states and the District of Columbia.