The new construction, mixed income development
along the Purple Line Corridor in Riverdale, Md. will provide nearly 300 new
affordable homes with unique community amenities.
RIVERDALE, Md., Oct. 7, 2024
/PRNewswire/ -- Lincoln Avenue Communities, a mission-driven
developer and owner of affordable housing, and Headen Spring
Development, LLC, a partnership between Refreshing Spring Church of
God in Christ and its non-profit affiliate, Sowing Empowerment
& Economic Development, Inc. (SEED), today announced their
collaboration to develop Headen
Spring, a multi-generational, mixed-income community to be
built on a 10-acre site adjacent to the Riverdale Park Purple Line
Station.
"Following a comprehensive selection process, we are delighted
to partner with LAC to bring our vision to a much-needed reality
for many families in our community," said Refreshing Spring Senior
Pastor Bishop James E. Jordan, Jr.
"Headen Spring will include features
that incorporate design and programmatic elements that support the
mental, social and physical health of the residents and the
surrounding community, and LAC is the right partner to guide us
through this important process."
Lincoln Avenue Communities is a leading acquirer and developer
of affordable housing, with a nationwide portfolio of 155
properties across 26 states. As a mission-driven company, LAC works
to expand access to affordable homes and strengthen communities,
providing valuable services for residents and enhancing the quality
and long-term resiliency of the properties they call home.
"We're thrilled to partner with SEED and Refreshing Spring
Church on this transformative new development, which will offer
amenity-rich, affordable, transit-oriented housing in Riverdale," said Stacy
Kaplowitz, LAC Vice President and Managing Regional Partner.
"LAC is committed to expanding access to affordable housing and
resident services for families, seniors and individuals across the
country in partnership with impact-driven organizations like Headen
Spring Development."
The conceptual master plan seeks to create a dynamic, urban
environment for residents with amenities that support active living
and promote a healthy lifestyle. The plan includes a mix of
multifamily housing, a community building with amenities focused on
the health, education and the empowerment needs of families within
the community; and green space and walkable trails to continue the
pedestrian experience from the light-rail station.
"Partnerships between mission-driven developers and our
non-profit communities are essential to increasing high quality,
affordable housing options for County residents," said Angie Rodgers, Deputy Chief Administrative
Officer for Economic Development for Prince George's County.
"This project aligns with our key economic development goals for
growing jobs and the commercial tax base, anchored by
infrastructure that serves a range of household incomes, especially
around transit-oriented development opportunities."
Refreshing Spring Church has been
a staple of the Riverdale
community since 1976. The Church's ministry focuses on the whole
needs of individuals and families, which led to the creation of
Headen Spring Development LLC with SEED as the managing partner.
SEED's mission has been to provide basic needs for families with
the goal of transitioning them from dependency to self-sufficiency.
This mission is fulfilled through a variety of community
development programs designed to improve the lives of those in
need.
"We are excited to move forward and engage in this level of
community development with an industry leader like LAC," said SEED
President & CEO Lisa Butler
McDougal. "Headen Spring will
set the standard for transit-oriented development along this
important corridor in Prince George's
County and throughout the region."
For 20 years, SEED has been servicing the local community. SEED
provides food, clothing, education and training while promoting
self-sufficiency and empowerment directly to low- to
moderate-income families and communities. In addition to operating
as a HUD approved housing counseling agency, SEED operates a K-8
charter school, afterschool and summer enrichment programs, and an
emergency food distribution center.
For additional information, email
info@headenspringdevelopment.org.
About LAC: Lincoln Avenue Communities (LAC) is one
of the nation's fastest-growing developers, investors, and
operators of affordable and workforce housing, providing
high-quality, sustainable homes for lower- and moderate-income
individuals, seniors, and families nationwide. A subsidiary of
Lincoln Avenue Capital, LAC is a mission-driven organization with a
presence in 28 states and a portfolio of 155 properties comprising
27,000+ units.
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SOURCE Lincoln Avenue Communities