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Enterprise Community Development Closes Financing for MD Housing Project
Enterprise Community Development has closed construction financing for Riverwoods at North East II, a 9% Low-Income Housing Tax Credit (LIHTC) development that will deliver 48 affordable apartment homes in Cecil County.
The financing closing enables construction to begin on the second phase of the Riverwoods community, advancing long-term investment in affordable housing through a public-private partnership and coordination with local stakeholders. The development will include a unit mix of 14 one‑bedroom units, 18 two‑bedroom units, and 16 three‑bedroom units.
“This second phase strengthens our investment in the community and reinforces our mission to create stable homes that support long-term economic vitality,” said Janine Lind, President of Enterprise Community Development.
The development was financed through the competitive 9% LIHTC program and represents a total investment of more than $18 million. Construction is expected to begin shortly, with completion anticipated in January 2027.
