New housing option planned for elderly Moderate-income complex to be built in Annapolis

July 14, 1996|By Tanya Jones | Tanya Jones,SUN STAFF

Senior citizens with moderate incomes, such as those living on Social Security, soon will have a new housing option in Annapolis.

An Annapolis nonprofit developer working with a private developer plans to construct a two-building housing complex for the elderly on a 4.8-acre parcel on Edgewood Road behind the Bay Forest Shopping Center. The buildings would house 120 one- and two-bedroom apartments.

"Annapolis has a great need," said Trudy McFall, chairwoman of Homes for America, the nonprofit developer. "There is no other moderate-income project for the elderly in Annapolis."

Elderly residents with annual incomes of $22,000 or less for individuals and $25,150 or less for couples will be eligible for the apartments. Monthly rents will range from $465 for one-bedroom apartments to $671 for two-bedroom apartments, with the exact rate determined by income level, McFall said.

The state last week agreed to give Homes for America and its private partner, First Centrum Corp., $659,071 in federal tax credits for private investors in the project, said Sue Gregson, a spokeswoman for the Maryland Department of Housing and Community Development.

Annapolis has granted the project a $200,000 deferred-interest loan, and Arundel Community Development Services Inc. is granting a $786,790 loan, McFall said. The remainder of the $8.5 million project will be paid for by a private mortgage and private investors.

L "The tax credit was the essential part," McFall said Friday.

Organizers hope to break ground by the end of the year, with the buildings ready for residents by late 1997, McFall said.

Six people already have heard about the complex and have asked to be placed on a waiting list, she said.

"This is just a marvelous site for elderly housing," McFall said. "It's by the shopping center, around the corner from the library." Residents also will have easy access to buses.

Pub Date: 7/14/96

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