Enterprise to develop affordable homes for families in Baltimore City

0
20

— Enterprise Homes, Inc. closed recently on financing to build 68 new, affordable apartments at 211 West Mulberry Street in Baltimore City.

Harkins Builders will begin construction on the $22.3 million building this month and expects to be ready for occupancy in the summer of 2016.

Called Mulberry at Park, the new development will feature 34 one-bedroom, 27 two-bedroom and seven three-bedroom apartments of which 13 will accommodate persons with physical disabilities.

Designed by Marks Thomas Architects, the building’s architecture is designed to speak to and complement the historic architecture in the surrounding neighborhood. Amenities will include a cyber café/lounge, outdoor terrace, fitness room and underground parking. The development will meet Enterprise Green Communities Criteria and LEED Silver standards.

Bank of America will provide $15.8 million in construction financing as well as tax credit equity and permanent financing. Additional construction financing will be provided by the State of Maryland Department of Housing and Community Development ($1.5 million) and the City of Baltimore ($870,000).

“We’re committed to building affordable homes for families, for people who work and struggle to afford a place to call home,” said Chickie Grayson, president and CEO, Enterprise Homes. “This new community brings us closer to our goal of ending housing insecurity within a generation by creating opportunity for people and providing them with connections to jobs, good schools, transit and health care.”