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And the Reconstruction of Newtowne 20 is Underway

| March 13, 2021, 04:01 PM

Pennrose and the Housing Authority of the City of Annapolis (HACA) celebrated the groundbreaking of the Newtowne 20 revitalization, which will replace the demolished public housing with brand new, high-quality apartments, a new community building, and open space. The project is slated for completion in the spring of 2022.

Speakers at the virtual groundbreaking ceremony included: Melissa Maddox-Evans, CEO, Housing Authority of the City of Annapolis; Patrick Stewart, Regional Vice President, Pennrose, LLC; Joey Tomassoni, Pastor, Downtown Hope; Ken Holt, Secretary, Department of Housing and Community Development; Shaneka Henson, House Delegate, District 30A, House of Delegates, State of Maryland; Steuart Pitmann, County Executive, Anne Arundel County; Sheila Finlayson, Alderwoman, Ward 4, City Council, City of Annapolis; Jacqueline Wells, Board Chair, Housing Authority of the City of Annapolis; Glenda Smith, Newtowne 20 Resident; Mae Singleton, Newtowne 20 Resident; Toni Strong-Pratt, Community Advocate; Miles Cary, III, SVP, Community Development Banking, Bank of America Merrill Lynch; Paul Weissman, Sr. Managing Director, Head of Affordable Housing Production, Lument; and Beverly Wilbourn, Former Executive Director, Housing Authority of the City of Annapolis.

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The Newtowne 20 redevelopment will replace the former 78 units with modern, energy-efficient apartments in a mix of both stacked and garden-style apartment buildings located around a new, connected looped road and central green space. Plans for the site also include a 3,500 SF community clubhouse with amenity spaces, new basketball court, and tot lot. Previous Newtowne 20 residents have been temporarily re-housed and will have the opportunity to return to the new development once complete.

“Through persistence and determination, we have reached a great milestone in the rebuilding of this great community,” said Melissa Maddox-Evans, Executive Director/CEO of the Housing Authority of The City of Annapolis. “We thank all of our partners for their hard work and support as we move forward with the construction phase. We are glad our residents will be able to have this opportunity for a new start for themselves and their families.”

“We’re excited to continue our partnership with HACA as we transform outdated public housing into a vibrant, pedestrian-friendly neighborhood with high-quality affordable housing, community amenities and open green space,” said Patrick Stewart, Regional Vice President at Pennrose. “Today’s milestone brings us one step closer to completing this full-scale revitalization and welcoming residents back into their new, modern homes.”

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The Newtowne 20 redevelopment involves a U.S. Department of Housing and Urban Development program which enables housing authorities to convert public housing properties, supported under the traditionally underfunded public housing model, to a more stable Section 8, voucher-based model, allowing the project to leverage private funding sources. The roughly $24 million project is funded using multiple layered sources, including multifamily bonds, Rental Housing Works, Rental Housing Funds and Housing Trust Funds from the Maryland Department of Housing and Community Development; 4% Low Income Housing Tax Credit equity proceeds and a construction loan from Bank of America; HOME funds from Arundel Community Development Services; grant funds from the State of Maryland Department of General Services, City of Annapolis CDBG program, and Maryland DHCD Strategic Demolition Fund program; seller financing from HACA; and a permanent tax exempt loan from Freddie Mac through Lument.

Pennrose and HACA have a successful track record partnering on public housing redevelopments, including the award-winning, three-phase redevelopment of Obery Court and College Creek in downtown Annapolis. With a regional office in Baltimore, Pennrose is also active throughout Maryland, Virginia and Washington, D.C.

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Category: Local News, NEWS, Post To FB

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