Preservation of

Affordable Housing in

Princess Anne, Maryland



30475 Pine Knoll Drive
Princess Anne, MD 21853


Rental Information,
Amenities, and Floorplans


ACQUISITION / PRESERVATION / REDEVELOPMENT

Princess Anne Townhouses

Princess Anne Townhomes is located in Princess Anne County, Maryland. The development consists of 120 garden-style, multifamily, affordable rental townhouses. The project is well situated (just across the street from University of MD Eastern Shore) both geographically and transportation-wise. Princess Anne is located 12 miles from Salisbury, MD and easily accessible to all the area amenities it provides via Ocean Highway/US Route 13, located just a half mile from the property. The property was built in 1974 and was rehabilitated in 2001 with Low Income Housing Tax Credits (LIHTC).

 

All of the units are two or three-bedroom townhouse apartments with living room, dining and kitchen on the first floor and internal stairs to the second-floor bedrooms and bathrooms. Units feature fully equipped kitchens with modern appliances including a refrigerator, dishwasher and garbage disposal, along with washer/dryer connections. All units feature tile flooring in the kitchen and bathrooms, and wall to wall carpeting in the bedrooms. Some living areas are carpeted, while others are finished with tile flooring.


TOTAL COST
$ 9,397,500

DESCRIPTION
Community amenities include a freestanding brick clubhouse with leasing offices, on-site laundry facility, business center and fitness center, along with a large central playground. The clubhouse is used to provide after-school and summer day care and activities for resident’s children. A small additional building houses the maintenance office.

 

Princess Anne Townhomes income limits: 100% of the units are at or below 60% of the area median income (AMI)

FINANCING
Secured financing and funding for this project is below:

$ 9,397,500LIIF Bridge Loan




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 83 properties, totaling 14,445 units in 19 states and the District of Columbia. Today, NHPF’s portfolio includes 48 properties, totaling 7,843 apartment units, in 15 states and the District of Columbia.