Enterprise Community Development Celebrates Grand Opening of The Vision at Parkway in Columbia, MD

COLUMBIA, MD - Enterprise Community Development, one of the largest nonprofit affordable housing providers in the Mid-Atlantic, celebrated the grand opening of The Vision at Parkway today, a newly constructed 82-home mixed-income community in Columbia. The celebration featured hopeful remarks from U.S. Senator Chris Van Hollen and Howard County Executive Calvin Ball about the impact more affordable and accessible housing will have for families and communities across Columbia.

"Having a place to call home is an essential foundation for success, but an affordable home is out of reach for far too many," said Senator Van Hollen. "That's why we need to invest in more affordable housing in our communities, and our congressional delegation worked to secure federal funds for these new homes in Columbia. The opening of the Vision at Parkway will expand housing options in Columbia and provide more Marylanders with an affordable place to call home."

Built on the site of the former 41-unit Ranleagh Court property, The Vision at Parkway doubles the number of homes previously available at the site and is part of Enterprise's broader effort to replace approximately 300 aging apartments across a one-mile stretch of Columbia with nearly 600 modern homes.

Together with Legacy at Twin Rivers and Legacy at Cedar Lane I/II, which recently celebrated its grand opening, The Vision at Parkway expands housing options in Columbia while continuing Enterprise's longstanding investment in the community.

Designed with families and residents of varying needs in mind, The Vision at Parkway features one-, two, three- and four-bedroom apartments with modern finishes, contemporary layouts and in-unit washers and dryers. Residents also have access to a clubroom, after-school homework space, business center and fitness center, as well as outdoor amenities including a playground, dog park and landscaped plaza.

"The Vision at Parkway reflects our commitment to creating communities that meet residents' needs today while providing lasting opportunity for the future," said Janine Lind, president, Enterprise Community Development. "By doubling the number of homes at this site and bringing together a range of apartment sizes, accessible design and spaces for families to learn, gather and connect, we're creating a community where more people can build their lives in Columbia."

Accessibility is integrated throughout the community, with all homes incorporating features that make them easier to access for residents and visitors with mobility limitations. Five percent of the homes are built to meet Uniform Federal Accessibility Standards requirements. The development was also built to Enterprise Green Communities standards and incorporates high-efficiency HVAC systems, ENERGY STAR appliances and a rooftop solar array to support greater energy efficiency and sustainability.

The Vision at Parkway follows an industry-leading mixed-income model, with one-third of the homes reserved for the lowest-income residents, one-third designated as workforce housing and one-third offered at market rate. The model helps preserve housing options for longtime residents while creating opportunities for households across a range of incomes to live in a community with access to schools, employment centers, healthcare, recreation and other amenities.

The $47.88 million redevelopment was financed through a combination of public and private investment, with support from JPMorgan Chase Bank, M&T Realty Capital Corporation, the Maryland Community Development Administration, Howard County, the U.S. Department of Housing and Urban Development and Congressionally directed Community Project Funding. Low-Income Housing Tax Credit, Section 45L and Investment Tax Credit equity was syndicated by Enterprise's housing credit investments business, and project-based rental assistance contracts support 29 homes.

The Vision at Parkway was previously owned by Community Homes Housing, Inc. (CHHI), a Howard County-based nonprofit organization that, together with Enterprise, developed the shared vision for transforming the former Ranleagh Court property into a modern, mixed-income, sustainable and accessible community. CHHI provided favorable seller financing and additional support through its affordable housing fund as part of its investment in the redevelopment of The Vision at Parkway and Legacy at Cedar Lane I/II.

The project team includes Moseley Architects and Harkins Builders, Inc., and the community is managed by Enterprise Residential, LLC, providing residents with professional property management and resident services.