Empire Homes of Maryland
has bought six rowhouses in the Station North Arts and Entertainment District that it will renovate and turn into affordable, one-bedroom apartments for the disabled.
The $3.3 million project in the 1600, 1700 and 1800 blocks of North Calvert Street will result in 18 apartments when its completed this summer. Construction will begin in January.
The Baltimore City Housing Authority owned the vacant rowhouses that are spread throughout the project site. Empire Homes, a non-profit developer and property manager of affordable housing headquartered on North Charles Street, bought the rowhouses at a cost of about $10,000 each, according to president and CEO T.F. Burden.
“Because they are public housing properties, they can only be used for that purpose," Buden says. "They can’t be rehabbed and sold for market rate or turned into single-family housing.”
The rowhouses are located near Amtrak’s Pennsylvania Station and Baltimore School of Design, a public high school.
Each of the six rowhouses will contain three units. Rent will cost about $650 per month, with the tenant paying a maximum of 30 percent of his or her income. The city and Innovative Housing Institute, a downtown nonprofit, will choose tenants from the city’s housing choice voucher wait list.
Empire Homes obtained funding from several sources for the project, including $1.8 million from the state, $700,000 from the city, $300,000 from the Federal Home Loan Bank and $300,000 from bank financing.
Last July, Empire Homes opened another affordable rental project in Station North. The Lillian Jones Apartments, at 1303 Greenmount Ave., were constructed on a vacant lot. The four-story, 74-unit building has one- , two- and three-bedroom apartments. Empire Homes and city real estate developer the French Development Company partnered on the $16.1 million project.
Source: T.F. Burden, Empire Homes of Maryland
Writer: Barbara Pash at email@example.com