In accepting both awards on Shelter's behalf, Marilynn Duker, President of Shelter Development, praised the State of Maryland and its Department of Housing and Community Development for their support of workforce and senior affordable housing. "I am continually impressed and proud to be part of a creative partnership that brings together the State of Maryland, the Maryland Counties, the Federal government, and private-sector developers like Shelter to create much-needed affordable housing for those Marylander's who don't qualify for direct rent subsidies but who also cannot afford market-rate prices. All of us appreciate this special recognition from DHCD for our long-standing commitment to developing affordable housing."

When College Parkway Place's Section 8 housing contract expired in 2003, the owners considered taking advantage of the tight Annapolis real estate market by turning the property over for purchase to an owner who would convert the property to market rate housing. Having managed the property since 1982, The Shelter Group understood the significance of providing safe, good-quality housing for individuals and families with incomes well below the area median. So Shelter purchased the property from the original owners for $10.8 million dollars, and budgeted a further $5.4 million dollars for renovations and improvements.

The project-based Section 8 contract at College Parkway Place was renewed for another 20 years, ensuring that residents would not have to move or experience a change in their monthly rents.

The Commitment to Excellence Award also recognizes the creative partnerships and financing that made the purchase of College Parkway Place possible. Shelter worked closely with the Department of Housing and Urban Development (HUD), the Maryland Department of Housing and Community Development (DHCD), and Anne Arundel County to finance the transactions for the building's purchase and to answer a very real need for affordable housing in a community where such housing is quickly disappearing. MMAFinancial syndicated the tax credits awarded to the project by DHCD; the proceeds from this syndication significantly reduced the project's costs and made its affordable rent structure possible.

In acquiring College Parkway Place, Shelter knew the twenty-year old property would need updating. The building's exterior was repaired and repainted, the grounds received new landscaping and an updated tot-lot, and the common areas were completely transformed. The most significant enhancements, however, were made to the individual apartments. Each unit received new carpet, appliances, and cabinetry and all major plumbing and electrical systems were replaced.

Residents are enjoying the changes and note the family-like atmosphere. They also benefit from College Parkway Place's many service and social programs offered by volunteer, religious, and social organizations that operate with the help of Shelter's management team. As a result, College Parkway Place boasts one of Shelter's highest resident-satisfaction ratings among Shelter's more than 100 properties.

About Shelter: The Shelter Group is a national real estate development and property management company specializing in multi-family and senior living communities. From its founding in 1977, Shelter has grown into a top-ranked development and property management company. The firm's portfolio contains a broad range of properties, including conventional multi-family real estate, independent and assisted living communities for seniors, and affordable housing for families and the elderly. During its 27 year history, Shelter has developed nearly $1 billion of real estate and is known for the ability to develop properties that meet the needs of each local market while meeting the goals of its investors. For more information on The Shelter Group, please visit www.TheShelterGroup.com.