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
Founded in 1989, The NHP Foundation strives to provide quality affordable multi-family housing and resident services for low to moderate income families. Since 1994, NHPF has acquired and preserved 78 properties, totaling 13,616 units, located in 19 states and the District of Columbia. Today, NHPF’s portfolio includes 47 properties, totaling 8,063 apartment units, in 16 states and the District of Columbia. NHPF also provides service programs to approximately 20,000 community residents.