Phoenix Apartments

Property Information

Originally built in 1971, the property sits atop 9.3 acres just off the Baltimore-Washington Parkway, within a ten-minute commute into the District, and within walking distance to amenities including a Walmart, neighborhood-serving retail, several schools, parks, and community centers.

Jair Lynch purchased the property in an off-market transaction from Miami-based owner Florida Value Partners, with Melnick Real Estate Advisors serving as the buyer’s broker, for $72.5 million in August 2021. This acquisition represents another investment in Jair Lynch’s attainable housing strategy aimed at increasing and/or preserving affordable and workforce housing throughout the Mid-Atlantic region for working families and individuals earning between 30% – 120% AMI.

Plans for the property include improvement of amenities, addressing all deferred maintenance, and preserving the affordability and quality of housing for the existing residents long term.