North Market Revitalization
Frederick, Maryland

Development:
165 Rental Apartments
96 Homeownership Units

The North Market Revitalization in Frederick, Maryland: TCG-Venezia partnered with the Housing Authority of the City of Frederick (HACF) to develop multiple sites that improve the quality of affordable housing in the City. The development mix includes 213 affordable rental and homeownership units and 48 market-rate for-sale units. In addition, HACF will assist eligible families with 67 project-based Section 8 Housing Choice vouchers and 100 additional Section 8 Housing Choice vouchers.

The on-site phase abutting the North Market historic district will replace 146 barracks-style housing units with 99 new homes, including 42 affordable rental units, 36 market rate for-sale units, and 12 assisted units for sale set aside for families with incomes at or below 80% Area Median Income. Adjacent is a historic rehabilitation of two buildings containing four units on a portion of the on-site block.  There is also a mixed-finance, 23 unit, public housing senior building within the revitalization area.

Included in the revitalization plan is an off-site parcel located in the heart of one of Frederick’s largest residential and commercial areas.  This parcel of nine acres is developed into 60 rental units, both public housing and tax credit, and 29 for-sale town homes, with 7 homes for families with incomes at or below 80% of Area Median Income. 

Development Team:
TCG-Venezia  
Housing Authority of the City of Frederick

Financing:
Community Development Administration of the State of Maryland
Frederick County
Federal Home Loan Bank
F & M Bank (Now PNC)
The City of Frederick
Housing Authority of the City of Frederick
The National Equity Fund
SunAmerica Affordable Housing Partners
U.S. Department of Housing and Urban Development

Architect/Engineer:
Zavos Architecture + Design
Harris, Smariga & Associates

Contractor:
Harkins Builders, Inc. - Rental
R & J Builders – Homeownership

Marketing/Management:
TCGD/Community Market Services, Inc – Homeownership
NDC Real Estate Management – Family Rental
HACF – Senior Rental