Conifer Realty, LLC joined by Secretary Kenneth Holt of the Maryland Department of Housing and Community Development, Thomas Himler Deputy CAO for the County Government, Eric Brown, Director of Housing and Community Development for Prince George’s County, and a host of others, gathered to celebrate the official opening for Conifer Village at Oakcrest, a $26.5 million brand new senior housing development.
Located at 2011 Brooks Drive in District Heights, Conifer Village at Oakcrest is a 120-unit senior apartment community that offers individuals aged 62 and older an affordable, high quality, state-of-the-art apartment home with many amenities. These one and two bedroom units come equipped with energy efficient appliances, patio or balcony, a fully-equipped fitness room, computer lab and great room for social events. Just off Pennsylvania Avenue, residents enjoy an array of neighborhood amenities, such as the Oakcrest Community Center, restaurants, shopping, banks and more.
“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 Realty 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 $27.5 million. Financing was provided by Low Income Housing Tax Credit equity, in the amount of $8.9 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 site is designed with warm colors, exterior fencing and lush landscaping to create an attractive and inviting streetscape. Considering the various environmental issues and the need for green building, Oakcrest features high efficiency Energy Star windows, lighting, appliances and HVAC equipment. These design features culminated in an Energy Star New Homes, version 3.1 certification.
“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.”