MacKenzie Commercial Real Estate Services, headquartered in Lutherville, negotiated the sale of 5. 3 acres of land in downtown Odenton, Anne Arundel County, for $3. 75 million to Conifer Realty, LLC, a Rochester, New York-based company that specializes in the progression and control of multifamily housing. in New York, New Jersey, Pennsylvania and Maryland.
The previous owner of EL Gardiner’s circle of relatives in Annapolis. Conifer Realty will expand two buildings, containing approximately 150 hard work rental sets on site overlooking MD Route 175. David McClatchy of MacKenzie Commercial Real Estate Services, LLC represented both parties in this sale transaction.
The lot is located across from 1566-1580 Annapolis Road and is adjacent to Seven Oaks Mall and MD Route 32. Severn is about 8 kilometers from the site, Crofton is a few kilometers away and downtown Annapolis is about 32 kilometers away.
Workplace housing is the typical solution for middle-income staff to buy or rent housing in the neighborhoods where they work. It is used to the fullest by public service personnel such as teachers, police officers, and firefighters who earn salaries that cannot keep up with the emerging housing charge in their area. According to McClatchy, the Maryland Department of Housing and Community Development (DHCD) administers systems that offer tax credits and other monetary incentives to growth teams participating in this asset class.
Development work is expected to begin this fall and delivery is expected until the end of 2023.
Conifer Realty also has regional offices in Long Island, Mount Laurel, New Jersey and Columbia. Founded in 1975, the company has built more than 15,000 multifamily residential homes in more than two hundred communities.
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