Baltimore Groundbreaking Marks Hogan Administration’s Commitment to Jobs, Revitalization
Baltimore – Standing in the heart of the Station North Arts and Entertainment District on a beautiful fall afternoon Tuesday, Maryland DHCD Deputy Secretary Ellington Churchill, Jr. helped break ground for City Arts II, a new affordable housing development in the Greenmount section of Baltimore.
City Arts II received $900,000 through DHCD’s Rental Housing program and more than $1.2 million in Federal Low-Income Housing Tax Credits, providing an estimated equity value of $12.4 million to the project. Through the division of Neighborhood Revitalization, DHCD provided an additional $100,000 in financing through the Baltimore Regional Neighborhoods Initiative program in FY 2014 for pre-development costs including architectural and engineering services for the project.
The project is a joint partnership between Homes for America, Jubilee Baltimore, and TRF Development Partners.
“Governor Hogan knows that a healthy housing market is key to a healthy economy,” Churchill said.
“As with the original City Arts project, City Arts II will show that affordable rental housing is also a key component to the ongoing revitalization that strengthens our communities. That is why the Hogan administration and DHCD are committed to great partnerships that make projects like this a reality.”