Annapolis will be less than a year away from getting its first moderate-income housing complex for senior citizens when ground is broken tomorrow for Bay Forest Seniors Apartments.
There is a critical need for affordable apartments for the elderly in Annapolis -- residences that combine independent living with some social amenities and convenience, said Nancy Rase, president of Homes for America, an Annapolis-based nonprofit housing development corporation.
The 2-year-old corporation and First Centrum Corp., a for-profit developer based in Sterling, Va., formed a joint venture to build and own the 3.9-acre complex on Edgewood Road by the Bay Forest Shopping Center.
"It's an ideal location for seniors. It is right beside a shopping center, which has a grocery, a pharmacy and a variety of services for seniors. It is right on a city bus route," Rase said.
Plans call for 120 one- and two-bedroom apartments in two three-story buildings. Amenities include gardens, security, optional meal service, a fitness room and planned activities.
The apartments are scheduled to open in September. Though a leasing trailer will not be on the site until next spring, Rase said she is taking names of potential renters.
People 62 and older with annual incomes of $22,020 or less for individuals and $25,150 or less for couples will be eligible for the apartments. Monthly rents will be no more than $671. The income levels are roughly 60 percent of the area's median income adjusted for household size, Rase said. Eleven units will be reserved for single people with lower incomes.
"I think there is going to be a tremendous need for this kind of apartment," said Carol R. Baker, director of the Anne Arundel County Department of Aging. "There really is a genuine need for moderately priced housing for seniors."
The county's population includes 80,000 people over age 55, Baker said. An estimated 54,000 of them are over age 62. Rase said financial assistance from Anne Arundel County, the City of Annapolis and the state made the $8.5 million development possible.
Through Arundel Community Development Services, Anne Arundel County provided a low-interest loan of $786,790. Annapolis granted the project a $200,000 deferred-interest loan. In addition, the state Department of Housing and Community Development is giving $659,071 in tax credits, which raised equity for the project.
Midland Affordable Housing Group provided a first mortgage loan of $3,886,000.
Pub Date: 11/26/96