Home Program

Renaissance Square – Gateway Arts and Entertainment District, Hyattsville, by Housing Initiative Partnership, Inc. (HIP)

When completed, Renaissance Square will be one of several anchors in the Prince George’s County Gateway Arts and Entertainment District. Being developed by Housing Initiative Partnership Inc., (HIP), a Prince George’s Community Housing Development Organization (CHDO), Renaissance Square will consist of 44 apartments. HOME Funds provided $950,000 in gap financing. This project is financed primarily with 9 percent low-income housing tax credits. Apartments will be targeted to artists’ households with incomes at or below 60 percent of the area median. Project completion is scheduled for late 2008.

Cheval Court – Forestville
HOME funds provided $540,000 in supplemental financing to construct the 26-unit Cheval Court senior rental project in Forestville. Construction is 95 percent completed, and opening is scheduled for September 2008. The HUD Section 202 program provided primary financing. Victory Housing, Inc. is the project developer.