75 Rental Homes in mixed-income community to be revitalized while remaining affordable
(Baltimore, MD – December 14, 2018) — The Housing Authority of Baltimore City (HABC) and Enterprise Homes recently closed on financing to renovate 75 rental apartment homes at Heritage Crossing in West Baltimore. The apartments will receive necessary upgrades to enhance the residents’ lives while remaining affordable. The work will take place under HUD’s Rental Assistance Demonstration (RAD) program, which enables public housing authorities to leverage public and private funds to reinvest in distressed public housing developments. HABC and Enterprise have also partnered on the Allendale Apartments RAD project, which reopened last year after renovations were completed.
“We are excited to partner with Enterprise Homes on the renovation of Heritage Crossing through HUD’s Rental Assistance Demonstration Program,” said HABC Executive Director Janet Abrahams. “This public-private partnership will enhance the living environment for 75 families in this West Baltimore community. Converting these affordable units to RAD allows HABC to fulfill its mission of creating and providing quality affordable housing opportunities in sustainable neighborhoods for the people we serve.”
Heritage Crossing was developed by Enterprise Homes and A&R Development Corporation in 2003 under HUD’s HOPEVI program to replace the George B. Murphy Homes high rise housing development. In addition to the 75 rental townhomes, Heritage Crossing includes 185 for-sale townhomes. The 32-acre community features open space, tree-lined streets and is located near Baltimore’s central business district, schools, recreational activities, transportation, and major employers, such as Lexington Market and the University of Maryland BioPark.
“Enterprise Homes is proud to continue our work with Heritage Crossing,” said Christine Madigan, Executive Vice President of Enterprise Homes. “The Heritage Crossing community has improved hundreds of lives, as well as the neighborhood, and modernizing these 75 homes and keeping them affordable will enable the community to remain a vibrant part of West Baltimore.”
Exterior and interior renovations, to include new roofing and hot water heaters, are projected to total $4.6 million in hard costs. Primary financing for the renovations came from the Low-Income Housing Tax Credit. Additional funding was provided by HABC, the Maryland Department of Housing & Community Development and SunTrust Bank.
HABC is committed to finding creative solutions to develop and preserve quality affordable housing opportunities in sustainable neighborhoods that support families, stabilize communities, and spark neighborhood investment. Earlier this month, HABC and Community Housing Partners closed on financing for The J. Van Story Branch, Sr. Apartments. The 357-unit, 20-story building in the lower Charles Village area will also be renovated through HUD's RAD program to preserve affordable housing for seniors and non-elderly disabled residents.
