BOSTON, MA - Boston Capital is investing in the construction of Marley Meadows, a 36-unit multifamily development for families in Glen Burnie, MD. Marley Meadows will be built with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program. The general partner is Conifer Realty, LLC, based in Rochester, NY.
"Boston Capital and Conifer Realty have a long-standing relationship, partnering in 39 multifamily developments resulting in the creation of 2,562 units of affordable housing across the Northeast," said Jeff Goldstein, Chief Operating Officer and Director of Real Estate at Boston Capital. "The development's energy efficient design combined with high-quality, safe affordable housing will contribute favorably to the desirability of this apartment community."
Located on two acres, Marley Meadows will feature 10 one-bedroom, 17 two-bedroom and nine three-bedroom units located in three, three-story buildings. Units will feature dishwashers, walk-in closets, patios and balconies, central air conditioning, ceiling fans, energy efficient plumbing and electrical fixtures and Energy Star appliances. The development will include a 600 square foot community room, under building covered parking, computer lab, playground and four handicapped units.
Supportive services will be provided to families and children by the Boys & Girls Club of Anne Arundel County. Units will be available to families earning 60 percent or less of the Area Median Income (AMI).
"We applaud Conifer's efforts to build nurturing and supportive multifamily housing communities for families and we are proud to partner with them in this investment," added Goldstein.
The construction of this property will create approximately 55 jobs in the Glen Burnie area. To date, Boston Capital has invested in 81 developments constituting 5,410 units in 57 communities across Maryland.
About Boston Capital
Boston Capital, headquartered in Boston, MA, is a real estate investment and advisory firm specializing in tax advantaged investments in affordable multifamily housing, energy, film and economic development and equity investment in market rate apartment communities. Boston Capital's holdings include more than 2,450 multifamily apartment properties in 49 states and the District of Columbia, constituting nearly 159,000 apartments with a development cost in excess of $13.4 billion. Boston Capital is the largest owner/investor of apartment properties in the US.