Construction remains on schedule at Patuxent Cove, the the new multifamily community at Pegg Road in Lexington Park, MD, being built by Conifer Realty and St. Mary’s County Development Corporation.
Team updates show the project on schedule and budget as the end of Maryland’s fiscal year 2019 closed July 30. Patuxent Cove, a 60-unit family, affordable housing development with veteran preference, is a Maryland Tax Credit winner and will play an essential role in preserving income diversity and affordable housing options in Lexington Park.
This new community on Pegg Road will feature one-, two-, and three-bedroom fully accessible apartments. Andrew Hanson, vice president of development at Conifer Realty, said, “Patuxent Cove is an important mixed-income development in Lexington Park that will bring high-quality affordable housing to the community. The spacious and well-planned units will feature veteran preference, which will ensure that homes to those who need it most, are provided in Maryland.”
Tax credit recipients provide training and hands-on learning in large-scale development for partnering nonprofits. In addition to growing its community service capacity, St. Mary’s County Development Corporation (SMCDC) will also coordinate and oversee resident services programming for the Patuxent Cove community.
The corporation’s ongoing partnership with Three Oaks Center will further enhance the veteran preference emphasis at Patuxent Cove. Three Oaks is a Maryland non-profit, that will refer qualified veterans to Patuxent Cove and assist them through the application process. Specialized care for the veteran families will be handled by Three Oaks Center as it relates to specific benefits and programs provided by the Veterans Administration.
Persons interested in this housing opportunity are encouraged to go to the Patuxent Cove website complete the interest list form and you will receive leasing information once it is available. Occupancy is expected in winter 2020.
St. Mary’s County Development Corporation is a nonprofit agency promoting public and private investment in St. Mary’s County communities. The corporation was created in 1985, and seeks to develop community infrastructure projects designed to revitalize and boost investment in commercial and residential neighborhoods.
Conifer Realty is a nationally ranked, full-service real estate company specializing in the development, construction, management and ownership of high-quality, affordable housing communities. Since its inception in 1975, Conifer has grown considerably – currently owning and managing nearly 15,000 multifamily units representing 223 apartment communities in New York, New Jersey, Pennsylvania, and Maryland. In addition, the company consistently maintains a pipeline of over 30 unique projects in various stages of the development process. For more information, please visit its webpage.
