Boston Heights, the Annapolis housing complex burdened by drugs and code violations until it closed in November 1989, will reopen soon under a new name -- a few months later than its new owners had hoped.
The first units in the complex, renamed Admiral Oaks, will accept tenants in March, said Leslie Steen, president of the Bethesda-based Community Preservation and Development Corp., which bought the complex from Sateesh K. Singh for $2 million last April.
The housing group intended to reopen the complex last month, but Steen said getting approval from the federal Department of Housing and Urban Development and financing from the state Community Development Administration took longer than expected.
"It's going a little slower than we had hoped, but I'm beginning to see light at the end of the tunnel," she said.
Steen said that HUD should approve the project soon and that the state informally approved a loan for the project last week.
The project will be paid for by market-rate bonds and loans, and a $1.5 million low-interest loan.
The cost of the project, including the purchase price, will be about $9 million, Steen said.
All of the 159 apartments and town houses should ready for occupancy by June, Steen said.
Stu Wechsler of the Community Development Administration confirmed that the group had obtained financing for the project.
Rents in Admiral Oaks will be $400 to $600 a month, and subsidies for 62 apartments will mean lower rents for some.
Community Preservation and Development Corp. will rent the homes to families with incomes between $15,000 and $25,000, and will try to rent to people who earn less than $15,000.
Steen said crews have begun work on the grounds and are awaiting permits from the city before beginning interior renovations.
The group will be hiring a manager for the complex, Steen said, and signs will soon be hung giving a phone number for rental information.
Steen said the group hopes to rent to people on the Annapolis Housing Authority's 700-person waiting list, among others.
Singh closed the complex after city officials threatened to condemn many units because of housing code violations such as damaged plumbing, heating and electrical wiring.
Steen was involved in an unsuccessful effort to buy the property for $4.25 million in early 1989, but the deal fell through because the group couldn't get enough federal subsidies.
A year later, with many apartments boarded up, Singh sold at the reduced price.