Affordable Housing Development for Seniors Gets Underway in Allegany County

Braddock’s Greene Project to Benefit from Federal Stimulus Funds

CROWNSVILLE, MD (December 28, 2009) - Maryland Department of Housing and Community Development (DHCD) Secretary Raymond A. Skinner today announced the beginning of new construction for Braddock’s Greene, a development of 50 one and two-bedroom units in Frostburg. The project, located on Route 736 and Braddock Street, is financed through the American Recovery and Reinvestment Act (ARRA).

"In addition to increasing the inventory of affordable rental housing for Maryland’s seniors, the Braddock’s Greene project also is a boost to Maryland’s labor market," said Secretary Skinner. "Every job counts in this economy and we're proud that this project will help create 48 construction jobs in Allegany County."

The units will be available to individuals aged 62 years and older with incomes between 30% and 60% of Area Median Income (AMI) or between $16,600 and $33, 240 for a two-person household.

In addition to a $1,050,000 mortgage from the Huntington National Bank, the project was financed with more than $6.3 million in proceeds through the Section 1602 Monetization program, a deferred developer’s fee of $334,569, and $250,000 from DHCD’s Elderly Rental Housing Program (ERHP).

The developer and owner of the project is the Woda Group, LLC. The property will be professionally managed by Woda Management and Real Estate LLC. The general contractor is Woda Construction, Inc.

The Maryland Department of Housing and Community Development works with partners to finance housing opportunities and revitalize great places for Maryland citizens to live, work and prosper. To learn more about DHCD programs, log on to www.mdhousing.org.

News updates also are available by following DHCD on Twitter (www.twitter.com/MDHousing) and Facebook (www.facebook.com/marylandhousing).

For more information:

Jacqueline Lampell
Director, Office of Communications and Marketing
410-514-7704
lampell@mdhousing.org

Rosa Cruz
Deputy Director, Office of Communications and Marketing
410-514-7712
cruz@mdhousing.org

Andy DeVilbiss
Public Information Officer, Office of Communications and Marketing
410-514-7710
devilbiss@mdhousing.org