Ruscombe Gardens was built in 1983 and originally financed under Section 221 (d) (4). Evergreen Partners purchased Ruscombe Gardens in 2007 and completed a renovation program in Spring of 2008. The community includes 151 one-bedroom apartments for the elderly and disabled. All of the apartments are covered by Section 8 project-based subsidy. Ruscombe is located within the Coldspring Newton Planned Community, 10 minutes from downtown Baltimore. Originally conceived as a town within a town, Coldspring is considered to be one of Baltimore's most innovative planned communities. Residents have access to shopping, healthcare and recreational facilities.
4800 Yellowwood Avenue
Baltimore, MD 21209
Office Hours: M-F 9:00 am-5:00 pm
First Mortgage Financing: Tax-exempt financing using bonds issued by the Maryland Community Development Authority with FHA credit enhancement.
Equity Financing: Equity raised through the sale of 4% low income housing tax credits.
Section 8 Contract Renewal: yes
Over $2.4 million in total rehabilitation expenditures including: