Enterprise Homes Celebrates Groundbreaking of The Greens at Hammonds Lane in Anne Arundel County

Oct 08, 2010, 13:09 ET from Enterprise Homes, Inc.

COLUMBIA, Md., Oct. 8 /PRNewswire/ -- Enterprise Homes, Inc. today joined Anne Arundel County Executive John R. Leopold, Anne Arundel County Councilman Daryl D. Jones, Executive Director with Arundel Community Services, Inc. Kathleen Koch, Director of Multifamily Housing Patricia Sylvester from the Maryland Department of Housing and Community Development, and local residents to celebrate the groundbreaking of The Greens at Hammonds Lane in the Brooklyn Park neighborhood in Anne Arundel County. When complete, The Greens at Hammonds Lane will consist of 90 affordable and environmentally sustainable rental homes for seniors.

"We are thrilled to be a part of this great effort to bring affordable housing for seniors to Brooklyn Park, one of the County's revitalization areas," said Kathleen Koch, Executive Director of Arundel Community Development Services, Inc.

The four-story building has been designed by Grimm + Parker Architects, Inc. to complement the existing neighborhood with shingle-style architecture, pitched roof with cupola and stone cladding that is consistent with the early 20th century residences located in the historic neighborhoods of the community. The development is also designed to meet the requirements of the Enterprise Green Communities Criteria with several features focusing on energy efficiency and conservation of raw materials including: energy efficient double pan low-E windows, water conserving plumbing fixtures, Energy Star appliances, energy saving light fixtures and "green label" carpeting throughout.

Additional amenities will include an entrance porch, a community room, a library/cyber cafe, a quarter-mile walking path, TV lounge/sports bar, activity room, and fitness room.

"Enterprise Homes is proud to help develop new homes for seniors in the Brooklyn Park neighborhood," said Chickie Grayson, president and CEO of Enterprise Homes, Inc.  "Residents will be able to enjoy a host of amenities in a sustainable and environmentally-friendly community."

Funding for the $14.5 million development comes from Capital One, who is providing both debt and equity to the development. Additional funding includes Anne Arundel County HOME Funds through Arundel Community Development Services, a MEEHA grant administered through the Maryland Department of Housing and Community Development, and syndication of tax credit equity through Enterprise Community Investment, Inc.

The Greens at Hammonds Lane is expected to open in summer 2011 and will be managed by Habitat America.

The Enterprise Green Communities initiative is the first national green building program focused entirely on affordable housing. It provides financing, funding and expertise to enable developers to build and rehabilitate homes that are smartly located, healthier, water conserving, more energy efficient and better for the environment – without compromising affordability.

Enterprise is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. For more than 25 years, Enterprise has introduced neighborhood solutions through public-private partnerships with financial institutions, governments, community organizations and others that share our vision. Enterprise has raised and invested more than $10 billion in equity, grants and loans to help build or preserve more than 250,000 affordable rental and for-sale homes to create vital communities. Enterprise is currently investing in communities at a rate of $1 billion a year. Visit www.enterprisecommunity.org and www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity.

SOURCE Enterprise Homes, Inc.