- Governor Hogan Announces Plan to Deploy $198 Million in Small Business Relief
- Hogan Administration Awards More Than $1.7 Million Through the Community Investment Tax Credit Program
- Governor Hogan Announces $200 Million Affordable Housing Package to Address Rising Costs
- VIDEO RELEASE: Governor Hogan, Cal Ripken Jr. Cut Ribbon on New Youth Development Park at Prince George’s County Police Department
- HUD Awards Maryland Over $6.9 Million in Housing Assistance for Marylanders with Disabilities
Groundbreaking for Affordable Housing in Downtown Baltimore Shows Governor Hogan’s Commitment to City’s Revitalization
New Carrolton, MD – New affordable rental housing near downtown Baltimore will help revitalize the city’s West Side and change things for the better for families and individuals with special needs, Governor Larry Hogan said today.
“Baltimore City residents will benefit because of the investments we are making to ensure Maryland has more affordable housing options.” the governor said.
DHCD Secretary Kenneth Holt on Tuesday joined Baltimore City Mayor Stephanie Rawlings-Blake, local officials and development leaders to celebrate the groundbreaking of Mulberry at Park Apartments, a 68-unit affordable apartment complex in the Bromo Tower Arts & Entertainment District of West Side Baltimore.
The Hogan administration helped finance the project with more than $1.5 million in 9% Federal Low Income Housing Tax Credits and a $1.4 million Rental Housing Program loan.
During the ceremony, Secretary Holt highlighted the administration’s commitment to supporting affordable rental housing development as an economic catalyst and job-creation engine in Maryland. Mayor Rawlings-Blake announced the unveiling of Leveraging Investments in Neighborhood Corridors Strategy, a development initiative aimed at improving five of Baltimore’s major corridors.
Mulberry at Park Apartments consists of 34 one-bedroom, 27 two-bedroom and seven three-bedroom apartments, with 11 of the units serving individuals with disabilities. The apartment complex features numerous energy-efficiency and environmental measures, which meet LEED Silver standards and Enterprise Green Communities Criteria.
Residents will also have access to a multipurpose cyber-café room, study room, fitness center and outdoor terrace area.
The project, which is slated for completion in 2016, will also benefit from a Housing Assistance Payment contract with the Housing Authority of Baltimore City for 19 units.
Additional funding included loans of $2,653,000 from Bank of America, $870,000 from Baltimore City, $500,000 from the Federal Home Loan Bank and a deferred developer’s fee.
This new apartment community will serve a tremendous need in Baltimore by providing affordable high-quality homes to families near employment, transit and cultural amenities.
Learn more about Maryland’s commitment to ensuring that low and moderate income families, senior citizens and individuals with disabilities have the opportunity to live in quality, affordable rental housing in desirable neighborhoods.
By Samantha Lozano