Howard County Housing Authority Acquires Orchard Meadows Apartments From Aaron Dixon For $62.6M

The multifamily property located at 3411 Sonia Trail in Ellicott City, MD was recently sold for $62,600,000. The sale involved a 240-unit complex, translating to a price per unit of $260,833. The buyer, Howard County Housing Authority, acquired Orchard Meadows Apartments in an effort to provide more affordable housing options in Ellicott City, using eminent domain to secure the property and outbidding a private developer.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $62,600,000
• Units: 240
• Price per Unit: $260,833
• Address: 3411 Sonia Trail
• Market: Ellicott City, MD
• Seller: Aaron Dixon - CREC Real Estate
• Buyer: Howard County Housing Authority

The sale of Orchard Meadows Apartments marks a significant transaction in Ellicott City, with Howard County Housing Authority stepping in to expand housing opportunities for the community, emphasizing the importance of affordable housing initiatives.