Circle Terrace
Lansdowne, Maryland

After

Before

Project Description
Acquisition and substantial renovation in 1992 of a 303-unit financially and physically troubled FHA insured property plagued by several thousand building code violations and hundreds of life-safety violations. Renovations included new kitchens and baths, plumbing, electrical, roofs, and individually controlled HVAC. A new freestanding management office, laundry facility, and community center were also constructed at the site. The redevelopment involved temporary on-site relocation of existing residents in accordance with the Uniform Relocation Act, HUD regulations, and state/local guidelines. The property was developed in partnership with the Circle Terrace Resident Council. The Council is part of the ownership entity and has the right to acquire the property at any time after the completion of the low-income housing tax credit compliance period.

Project Cost
$16.95 Million

Financing

• FHA S.236 mortgage: $5.0 Million
• Federal Home Loan Bank Affordable of Atlanta/Crestar-Sun Trust: $4.0 Million
• Maryland HFA: $2.1 Million
• Baltimore County (CDBG): $0.35 Million
• Equity: $5.5 Million
• Tax Credits from the State of Maryland: $12.0 Million (9%)
• Section 8 LMSA (300 units)

Community & Supportive Services
The property and management team includes a resident services program administered by Housing Opportunities Unlimited. A Resident Service Coordinator oversees and coordinates all on-site resident programs as well as linkages to off-site programs within the programs. Among the programs offered at Circle Terrace are an after-school Homework Enrichment Club, a Building Captain Program, a Neighborhood Network Computer Center and a partnership with Baltimore County Community College to provide computer instruction as well as assistance with resume preparation and internet employment research. In addition, the RSC prepares a monthly newsletter and provides support for the Resident Council.

Public & Private Partners

• Landex Corporation, Developer/Sponsor/Guarantor
• The Richman Group, Developer/Sponsor/Guarantor
• Circle Terrace Resident Council, a Maryland non-profit corporation
• Baltimore County, Department of Community Conservation
• State of Maryland, Department of Housing and Community Development
• Literacy Works
• Baltimore Community College

References

• Charles Wilson
  U.S. Department of Housing and Urban Development
  Phone: 410-962-2520 x 3114
  Fax: 410-962-4947
• Stuart Wechsler
  MD Department of Housing and Community Development
  Phone: 410-514-7457
  Fax: 410-987-4097

Awards

• Recipient of HUD Drug Elimination Grant (1998)
• Department of Education Community Technology Center Grant (2001)