GAITHERSBURG, Md., June 2, 2020 /PRNewswire/ — Vantage Management, the arch mixed-income acreage administration aggregation in the northeast, today appear it has taken over administration responsibilities of Timberlawn Crescent accommodation association in North Bethesda, Md.
Timberlawn Crescent is a alloyed assets apartment association that appearance both bazaar amount and affordable apartment homes amid its 107 apartments and townhomes. The 40 percent of affordable homes will be allotment of the federal government’s Low-Income Tax Credit (LIHTC) program, while the actual 60 percent will be busy at bazaar rate.
The Apartment Opportunities Commission of Montgomery County owns the association and called Vantage to administer the association because of its ability in managing mixed-income Housing. Vantage provides centralized ability in affordable apartment acquiescence through its sister company, Edgewood Management, and cogent acquaintance managing high-end bazaar amount homes.
“Our bulge and acquaintance in the DC Metropolitan Area abnormally positions us to accommodate a seamless administration alteration for Timberlawn Crescent,” said Vantage Director, President and CEO Cindy Sanquist. “Our ability in operating tax-credit backdrop enables us to advance aerial control ante while adopting a absolute association atmosphere that yields aerial levels of citizen satisfaction. We’re aflame and accustomed to administer this association and abide to action affection active adventures in this market.”
For abounding jurisdictions, mixed-income apartment is acceptable the barometer as a band-aid to the affordable apartment crisis. The mixed-income apartment band-aid empowers developers to body financially achievable market-rate apartments while additionally accretion affordable apartment options. This increases the accumulation of housing, which is all-important to abode abiding affordability, while authoritative affordability accessible in the short-term.
“We feel advantaged to accept Vantage Administration booty over the onsite administration of Timberlawn Crescent,” said Montgomery County Apartment Opportunities Commission Chair Roy Priest. “Their clue almanac and acceptability as industry leaders in affordable and mixed-income apartment administration fabricated them the ideal best to booty the reins at this absorbing community. We attending advanced to watching the acreage curl below their direction.”
Situated forth Tuckerman Lane, amid Old Georgetown Road and Rockville Pike, Timberlawn Crescent offers absurd accessibility, with Route 270 and Washington Beltway both aloof a three-minute drive away. Association additionally adore accessible walking or cycling connectivity to Beach Drive, the Bethesda Trolley Trail and assorted accessible busline hubs.
Timberlawn Crescent includes a advanced fettle center, citizen lounge and bold room, and a association patio with barbecue grills. Free onsite parking is included, below a awning of complete copse and amidst by accustomed landscaping. The abundant area accommodate a agreeable haven area association can relax and escape the circadian grind. The surrounding adjacency appearance enviable dining, ball and arcade options, as able-bodied as accessible admission to groceries. Local attractions accommodate Timberlawn Local Park, White Flint Park, Tuckerman Station Swimming Pool, Strathmore Mansion and Josiah Henson Museum and Park.
Located at 5707 Luxemburg St., Timberlawn Crescent consists of one-, two- and three-bedroom attic plans, alignment from 856 to 1,200 aboveboard feet. The sprawling interiors and ample designs are accent by in-home washers and dryers, and avant-garde kitchens featuring high-end stainless animate appliances. The pet-friendly homes are comfortable with ample applicant closets, wood-style axle flooring, bottle asphalt akin baths, alone controlled air conditioning and clandestine patios or balconies.
About Edgewood and Vantage ManagementEdgewood Administration and Vantage Administration are East Coast affordable, market-rate and mixed-income acreage administration companies apprenticed by a 18-carat admiration to advice advance people’s lives. Through hands-on administration and added citizen services, Edgewood and Vantage accept become industry leaders in residential acreage management. Edgewood and Vantage administer a baddest portfolio of added than 140 residential communities in Delaware, Florida, Georgia, Kentucky, Maryland, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Virginia and Washington, D.C. For added information, amuse appointment www.thefordfamilycompanies.com.
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SOURCE Edgewood and Vantage Properties
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