National Equity Fund, Inc. National Equity Fund, Inc.

Extraordinary things happen when you have great partners
Since 1987, National Equity Fund® has invested more than $13 billion revitalizing neighborhoods,
fostering economic growth and creating affordable sustainable housing.

Cumberland Meadows

Cumberland Meadows

Senior Housing

Cumberland Meadows offers 64 residences to seniors 62 plus in Cumberland, Maryland. The property offers many features for seniors to live a social life, including a community room with kitchenette, exercise room, lounge, a playroom for grandchildren, and a patio and gazebo at the rear of the property that provide panoramic views of the western Maryland hills.

Cumberland Meadows is adjacent to Western Maryland Health System, the major hospital in the region and is two miles from historic downtown Cumberland, which is accessible by public transportation as well as a shuttle service.

Sponsor, The Woda Group, began its operations in 1990 working exclusively in Ohio. Over the years the company has expanded into West Virginia, Kentucky, Michigan, Pennsylvania, Maryland, and South Carolina. The Housing Authority of the City of Cumberland, a partner in the development, refers individuals to the leasing office and coordinates administration of supportive services such as health screenings and transportation service with the county’s office on aging.

National Equity Fund® invested $5.1 million of LIHTC equity in Cumberland Meadows, its eighth investment with Woda.


Project Details

Completed
2011
Location
12510 Old Willow Brook Rd SE
Cumberland, MD
Project Type
Elderly
Total Units
64
Mix of Residences
32-1 br; 32-2 br
Limited Partnership
Cumberland Meadows, LP
Tax Credit Equity
$5.1 million
Total Project Costs
$9.1 million
Sponsor
Woda Development of Ohio
Permanent Lenders
Summit Community Bank

Housing Authority of the City of Cumberland

State of Maryland Dept of Housing & Community Development
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