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Female Real Estate Developers Manage Over $170 Million in County ProjectsThe Redevelopment Authority has 5 current projects with women at the helm
Largo, MD --- In a male dominated industry such as real estate development, it is rare to find a woman structuring the deal, assembling the financing and leading the development project to a successful outcome. Yet, in Prince George’s County, the Redevelopment Authority (RDA) has awarded development projects to four women who are heading current multi-million dollar projects designed to spur economic growth and development in the County.“We have major projects in Brentwood, Capitol Heights, and Glenarden that are poised to breathe new life into these communities and we are very excited about the development teams we have chosen to work with to make these projects a reality,” says Howard W. Ways, Executive Director of the Redevelopment Authority of Prince George’s County. “The principals of these projects have a long history in real estate development and are extremely adept in their profession.”Gina Merritt, with Community First Development Corporation, is leading the $36 million Maryland Park Drive redevelopment in Capitol Heights. This is a 4 acre site that has been County-owned for decades and through her leadership will be converted into a community of approximately 158 market rate apartments and 17 market rate “For Sale” townhouses and 7,000 square feet of street level retail space. This project will create a luxury flagship development within walking distance to the Capitol Heights Metro Station and other amenities such as the new Walmart being constructed in the District of Columbia at the DC/MD Line. For 20 years, Ms. Merritt has been managing real estate development in the Washington/Baltimore region, and still today is typically the only female in the room when meeting with partners, vendors and sub-contractors.Ivy Dench-Carter, with Pennrose Properties, LLC, is the principal for the $100 million redevelopment of the Glenarden Apartments, a former project-based Section 8 development of 478 low income apartments. All of the apartments have been demolished to make way for a new community of 429 mixed income units that will include “For Sale” townhomes and affordable senior apartments. This 27 acre site will have new streets, open space and 25,000 square feet of commercial/retail space. Ms. Dench-Carter has over 20 years of management and real estate development experience and heads Pennrose Properties’ Baltimore Regional office which includes oversight for projects in Maryland, Virginia, North Carolina and DC.Judy Siegel, Founder and Principal of the Landex Companies, is developing two Redevelopment Authority projects in Brentwood. Each location lines the Gateway Arts District on Rhode Island Avenue and further extends the development already completed in Hyattsville. The projects sit on prime retail sites in the Town of Brentwood. The first project, entitled, The Artisan, is a $24 million redevelopment located at 4100 Rhode Island Avenue. The 2.4 acre site was formerly a used car dealership and now will be developed into 82 market rate apartments with 11,000 square feet of ground floor retail. The second project, entitled, Studio 3807 is a $36 million located at 3807 Rhode Island Avenue, diagonally across the street from The Artisan. The site was formerly a supermarket, then a plumbing supply company. The site also had two dilapidated buildings. The RDA assembled the entire site in 2012-2013 for $1.6 million. Studio 3807 will include 147 market rate apartments, 6,000 square feet of retail and 3,000 square feet of artist work space. For more than 25 years, Judy Siegel has been leading the development and redevelopment of residential properties for her real estate development firm, Landex Companies. The Landex Companies specialize in new construction, adaptive/reuse, senior apartments, renovations and master planning.Maryann Dillon is Executive Director of Housing Initiative Partnership, Inc. (HIP), a long-standing, high performing non-profit community development corporation in Prince George’s County, which allows them to benefit from the numerous affordable housing funding sources that give priority to these types of organizations.For 25 years, HIP has played a role in the development of over 250 units of affordable rental housing in the Greater Washington DC area. For some projects, they have been the sole developer/general partner. In others, HIP has acted as a development partner or consultant. HIP has also received federal and State funds for Neighborhood Stabilization, to acquire, renovate and sell vacant, abandoned and foreclosed homes to income-qualified, first-time homebuyers. In addition, HIP is the co-administrator with the RDA for the $2.5 million Housing Rehabilitation Assistance Program (HRAP) which provides low interest loans to income qualified homeowners to repair their homes. HIP was founded in Hyattsville by a female, Mosi Harrington, and today is led by Ms. Dillon and a strong team of females who are dedicated to developing affordable housing in the Washington region. Some of HIP’s projects include: Renaissance Square Artists Housing in Hyattsville, Mount Rainier Artists Apartments, and single family homes in Suitland, Palmer Park, and Largo, just to name a few.For more information, please contact Alexis Revis Yeoman, Public Information on (301) 883-2760 or firstname.lastname@example.org