Silver Spring-based Charter House receives Freddie Mac donation to ensure elderly residents can return home

SILVER SPRING, Md., Dec. 20 /PRNewswire-FirstCall/ -- Homes for America, which owns the affordable senior community Charter House in Silver Spring, Maryland, received a $150,000 donation from Freddie Mac to ensure that recently displaced Charter House residents will be able to return home.

Charter House, a high-rise that serves frail and limited income seniors, was temporarily closed in early December after the building's water pump malfunctioned and flooded the boiler room. More than 200 residents were evacuated and relocated to homes and hotels while the center undergoes repairs. Homes for America expects repairs to take about six weeks.

Maryland Senator-elect Benjamin L. Cardin, commended Freddie Mac for their assistance noting, "Homes for America has done a remarkable job in assisting the residents of Charter House who were dislocated by more than seven-feet of flood water. This $150,000 grant from Freddie Mac will provide significant help in defraying the clean-up costs so that more than 200 frail and low- income residents who have been displaced can return as quickly as possible to their homes."

Homes for America Chairman Trudy McFall said: "We are truly grateful. Freddie Mac's generosity is helping us help our residents. As a small non- profit organization, this experience has had a huge financial and emotional impact for both our residents and us. This is a wonderful surprise. We cannot thank Freddie Mac enough."

"As a locally-based company with a housing mission, the plight of these elderly citizens concerned us, and we wanted to ensure that they weren't left homeless. We are pleased that our investment will help these senior citizens go home," said Ralph F. Boyd, executive vice president, Community Relations, Freddie Mac.

Homes for America, an Annapolis-based nonprofit, provided funds to residents to pay for their relocation housing. Freddie Mac's contribution will help residents by defraying costs not covered by insurance.

Homes for America is a 501(c)(3) nonprofit housing corporation which specializes in developing and preserving housing for low and moderate income households and special needs populations. Homes for America carries out its mission in a variety of ways, including as a developer of affordable housing, providing development services to nonprofit organizations, and providing technical assistance to government agencies to develop and implement housing programs.