Marlyn Development Corporation — A Business Banking Member

Marlyn Development Corporation (MDC) believes everyone deserves to love where they live. For decades, the Virginia Beach based company has dedicated itself to creating quality housing at affordable prices throughout Virginia, North Carolina, and Maryland. 

While MDC has vast experience in the construction and development of all types of multifamily housing, they find their affordable communities to be the most rewarding. The team works closely with Anne Conner, president of public finance and community investment at TowneBank, to utilize the Low-Income Housing Tax Credit program. 

“The program allows us to reach those that are the most impacted by high housing costs,” says Brian Staub, chief financial officer at MDC. “TowneBank has played an integral role in helping us build much needed affordable apartment homes for families and seniors.” 

The partnership between MDC and TowneBank has created over 800 units of affordable housing in Hampton Roads and Richmond, with two additional projects that will push that number over 1000 by the end of 2022. “Marlyn was our very first community investment partner,” says Anne. “Their mission to produce high-quality, accessible housing dovetails perfectly with the TowneBank goal of enriching lives in the communities we serve.”

MDC also counts on TowneBank for their day-to-day banking needs, using our business online banking and treasury services tools, in addition to business lending solutions like letters of credit. 

“TowneBank is the finest regional bank that I’ve worked with,” says Dave Jester, president and founder of Marlyn Development Corporation. “The management is connected and intelligent. They are proactive and always look for ways to make things happen.” 

“We are grateful for TowneBank’s commitment to our community and the impactful investment they have made toward improving housing security for lower income households,” adds Brian.

TowneBank is dedicated to serving others and enriching lives through partnerships with companies and organizations dedicated to the betterment of our local communities. Contact us today to learn more about how TowneBank can help your business. Or, call your local TowneBank office to speak with a banker today.