Affordable Housing Developers
HDC MidAtlantic has been developing and managing affordable housing communities since 1971. As a non-profit, mission-driven organization we provide the best choice in affordable apartments by using high design standards, adopting green building practices and using energy-efficient equipment. Our real estate development team has a broad range of experience in real estate acquisition, financing, land development approvals, and construction management. We customize affordable housing to match the architectural heritage of the neighborhood or the community revitalization goals of our partners*.
Housing and Urban Development
Our earliest successes were high-rise towers for senior citizens built with financing from the federal Housing and Urban Development in the 1970s. Our emphasis now is on preservation by green retrofitting these apartments. We recently completed major renovations at Trinity House and are initiating major energy-efficiency upgrades at other properties.
Another project financed with HUD money is Sylvan Retreat in Mountville, Lancaster County. It was completed in 2003 and was built on a suburban campus next to market rate town houses and is distinguishable only by its seamless integration into the community. Few people know that these seniors are low-income except for the residents themselves.
U.S. Department of Agriculture (USDA), Rural Housing
The USDA has designated the bulk of HDC’s service area as rural. We proudly serve rural communities with quality town house developments such as Oak Bottom Village in Quarryville, Lancaster County, and rental subsidies for seniors in adaptive reuse buildings such as Henner Senior Apartments in the historic district in Womelsdorf, Berks County.
HDC is actively seeking existing USDA communities in need of refinancing or renovation where we may acquire, manage, or provide project management services during renovations. HDC is proud to be a Rural LISC community development corporation (CDC). LISC is Local Initiatives Support Corporation, which provides financial support to help transform distressed communities in urban and rural areas.
Low Income Housing Tax Credits
This federal program brings private capital investment into affordable housing projects through tax credits. Investors, who include individuals, local and regional banks and national syndicators such as Enterprise Community Investors, receive tax credits for every dollar they invest in an affordable housing development. Learn more about our Preservation initiative to retrofit and refinance early tax credit properties.
One of HDC’s LIHTC developments is Larkspur Crossing near Lancaster. Families earning up to $40,000 per year can qualify for 3-bedroom townhouses at affordable rents in in a township with the highest property values in Lancaster County. Their proximity has no impact on the neighboring houses selling in excess of $300,000. These rentals will be converted to home-ownership at affordable prices after 15 years.
*Partners: Our long history of partnering with faith-based non-profit organizations, market-rate developers, and municipal leaders has proven that the best affordable apartment communities are the result of collaborative effort. Our development team can facilitate adding low-to-moderate income housing to existing retirement communities, integrate rent-to-own workforce housing in market rate for-sale communities, or coordinate neighborhood revitalization efforts. Our commitment to Smart Growth land use practices has led us to many opportunities that have a dramatic community revitalization impact in the boroughs and cities we serve. We encourage community leaders to contact us to discuss their housing needs; HDC MidAtlantic will work with you to leverage state, county and private dollars to meet your revitalization goals.
For more information about real estate development, please contact: George Limbert, Director of Real Estate Development, at email@example.com