The grand opening of Phase III of the Glenarden Hills Redevelopment Project, a $115 million project, was recently celebrated by Pennrose, Redevelopment Authority of Prince George’s County, B&W Solutions, SHABACH! Ministries and local officials.
This final phase adds 158 mixed-income rental homes to the 27-acre master-planned community. It was developed through a combination of competitive 9% and 4% low-income housing tax credits.
According to Patrick Stewart from Pennrose: “The completion of Glenarden Hills Phase III is an incredible accomplishment for all involved – the Redevelopment Authority, Prince George’s County and City of Glenarden. It showcases what can be achieved with a strong vision and public/private partnership.”
Financing for this phase was provided by Bank Of America,M&T Realty Capital Corporation,Cedar Rapids Bank And Trust,Maryland Department Of Housing And Community Development,and The Redevelopment Authority Of Prince George’s County.
