Conifer is pleased to announce that a brand new, 120-unit, senior apartment community in Capitol Heights is now open!
Located at 2011 Brooks Drive in District Heights, Conifer Village at Oakcrest offers individuals 62 and older an affordable, one or two bedroom, high-quality, state-of-the-art apartment home with many amenities. Each apartment home includes energy efficient appliances, patio or balcony, a fully-equipped fitness room and great room for social events. Just off of Pennsylvania Avenue, residents enjoy an array of neighborhood amenities, such as the Oakcrest Community Center, restaurants, shopping, banks and more.
Conifer Village at Oakcrest has seven apartments accessible for people with disabilities as well as three hearing and visually impaired apartments set aside.
“With rents soaring and a large and growing senior population, providing affordable, accessible senior housing in Prince George's County has never been more important,” says Eric C. Brown, Director of the Prince George's County Department of Housing and Community Development. “We applaud Conifer for bringing this project to our County and increasing the opportunities for our seniors to have an affordable, comfortable and safe place to live.”
The total development cost for the project is over $26.5 million. Financing was provided by Low Income Housing Tax Credit equity, in the amount of $9.2 million, from Red Stone Equity Partners, a $12.1 million loan from Prudential, a $2.5 million loan from Maryland Department of Housing and Community Development, and a $2.2 million loan from Prince George’s County’s HOME Program funds.
“The completion of Conifer Village at Oakcrest is an outstanding example of what is achievable through collaborative public-private partnerships,” says Sam Leone, Regional Vice President of Development at Conifer. “The result here is a beautiful new community, offering an excellent quality of life for seniors. It has been a great pleasure working with the local community, Prince George’s County, and Maryland Department of Housing and Community Development to see this through from vision to reality.”