This 303 unit apartment complex in Lansdowne, MD was built in 1972 and insured by FHA. In 1989 it was plagued by more than two thousand building code and hundreds of health and safety code violations.
In 1992, Landex acquired, renovated and revived this community for very low income households by using multiple layers of public and private financing ($18,000,000) and adding services for residents aimed at enhancing independence and self-sufficiency.
- FHA 1st Mortgage
- Bank Loan with a FHLB interest rate subsidy and MD Housing Insurance
- Maryland Rental Housing Program Loan
- County CDBG Loan
- Private equity from Section 42 Tax Credits
- PILOT Section 8 LMSA
Revitalization of this community included significant renovations to the buildings that included, the addition of new kitchen and baths, new HAVC systems, new roofs, new entry doors, and many other features. In addition a new, free-standing, single story community center was constructed on the site. The management office, a laundry center and the resident service office are located in the center. There also is an on-site computer center that was established in cooperation with Literacy Works and funded by a grant from the US Department of Education. Among the many on-site human services available to Circle Terrace’ very low income residents is a summer camp for youth ages 6-12 that provides free lunches, an after-school homework program, a GED program for adults, computer literacy training and other programs related to assisting residents with job searches, resume preparation and assistance with job interviews.
During the renovations, existing residents were relocated on site in accordance with the Uniform Relocation Act and other applicable state and local guidelines.