Maryland Redevelopments Deliver 205 Mixed-Income Apartments With $112 Million in Investment

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Two completed mixed-income housing redevelopments in Columbia, Maryland, have replaced 103 older apartments with 205 new homes, more than doubling the number of residences across the sites while retaining a substantial income-restricted component.

Howard County announced the joint ribbon-cutting October 27 for Legacy at Cedar Lane I/II and The Vision at Parkway. The developments represent approximately $112.03 million in combined redevelopment costs, according to the county’s separate project totals. They are completed communities, not newly announced construction starts.

More homes, with income restrictions on most units

Legacy at Cedar Lane replaces the 62-unit Waverly Winds property with 123 apartments in two four-story buildings. The county said 83 of those apartments are affordable and 40 are market-rate. The redevelopment cost $64.15 million, supported by local, state, federal and private financing.

The Vision at Parkway replaces the former 41-unit Ranleagh Court development with 82 homes in a new four-story building. The county reported 66 affordable apartments and 16 market-rate homes, with a total redevelopment cost of $47.88 million. Its mix of one- through four-bedroom units is designed to accommodate households of different sizes.

Together, the two projects provide 149 designated affordable apartments and 56 market-rate homes. The net increase is 102 apartments compared with the 103 units previously on the sites. That distinction matters: the projects preserve and modernize housing, but the number of additional homes is smaller than the headline 205-unit delivery.

Public and private capital combined

Enterprise Community Development, the nonprofit developer, said Legacy at Cedar Lane was supported by $32.24 million in construction financing from Bank of America, $18.40 million in permanent first mortgages from Bellwether Enterprise, Maryland and Howard County funding, and a HUD Section 108 loan guarantee. The project combined 4% and 9% Low-Income Housing Tax Credit financing.

The Vision at Parkway drew on loans from JPMorgan Chase and M&T Realty Capital, tax-credit equity, state and county funding, HUD support and congressional project funding. Enterprise said 29 of its homes also benefit from project-based rental assistance contracts. The funding figures represent components of separate capital stacks, not interchangeable loans or a single $112 million mortgage.

Both projects were previously owned by Community Homes Housing, Inc., which participated in the redevelopment and contributed favorable seller financing and other support. The developer described the work as part of a larger effort to replace approximately 300 aging apartments along a one-mile section of Columbia with nearly 600 modern homes.

Accessibility and energy efficiency

Enterprise said the new buildings include energy-efficient appliances, improved air filtration and rooftop solar arrays. The developments were designed with visitability in mind, and 5% of the homes were built to meet Uniform Federal Accessibility Standards requirements. Those features are project specifications reported by the developer; independent post-occupancy energy savings have not been established.

Legacy includes a resident lounge, coworking space, fitness facilities and outdoor recreation areas. Vision at Parkway includes family-oriented common areas, a homework space, a playground and a dog park. Enterprise Residential will manage the properties and provide resident services.

For housing policymakers, the redevelopment illustrates the complexity of expanding affordable housing supply in established neighborhoods. Replacement projects can add units and improve conditions, but they require layered financing, tenant planning and long-term affordability commitments. The October 27 opening is the underlying event; later industry coverage does not make this a new November 1 development.