A long neglected, historically significant, 80 year-old vacant and deteriorated elementary school building in the center of the Town of Hampstead in rural north-central Maryland had been vacant and repeatedly vandalized for eight years.
After numerous developers tried for several years, without success, to construct a financially feasible development plan to redevelop and reposition this building into housing for the elderly, Landex was invited to join the development team. With Landex at the helm, the development team was able to design an adaptive reuse of the building and assemble $ 13,000,000 of financing to complete it. The six sources of financing included a first mortgage credit enhanced by Fannie Mae, private equity from the sale of historic and low income tax credits, and state and local funds. The final design included many amenities for seniors, as well as environmentally sustainable and “green” construction.
This flourishing senior community includes 88 apartments, all of which incorporate Universal Design features for the elderly, such as higher placed electrical outlets, front controls on cooking ranges, tubs with grab bars and seats, wider door widths, and special, easy-to-use hardware. The complex boasts 5,000 square feet of common space to accommodate a multi-purpose room with kitchen, an exercise facility, a library, computer lab, a card and TV lounge, and laundry facilities. The exterior landscaping includes raised garden beds where residents tend to flowers and vegetables and ample seating areas and a walking path complete the outdoor living space and contributes to the vitality of the community and its residents. A host of amenities, including transportation, medical screening, nutrition counseling, education, recreational activities, beauty and barber services, movies, and reading programs are available for the residents. A garden program that includes the Hampstead seniors in partnership with McDaniel College students and third graders from Hampstead Elementary School received an award for excellence from the U.S. Department of Interior’s “Making America Beautiful” program.