Developer to renovate apartments


A 757-unit apartment complex off Southbridge Drive will be renovated to provide affordable rental housing, county and federal officials have announced.

The 26-building complex, called Valley Brook apartments, has been bought by the Corcoran Jennison Co., a Prince George's County developer.

The complex is being renamed Villages at Marley Station.

The acquisition and renovation of the complex is being financed, in part, by a mortgage revenue bond issued by the county and purchased by the Federal National Mortgage Association (Fannie Mae).

Plans for the project will be announced today at a noon news conference at the complex, to be attended by County Executive John G. Gary, 1st District Republican Rep. Wayne T. Gilchrest and representatives of Fannie Mae and the developer.

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