Downtown Baltimore gained a new affordable housing development today when Mayor Catherine Pugh and others cut the ribbon on the Mulberry at Park Apartments, a $22.3 million, 68-unit project in the Bromo Tower Arts and Entertainment District.
Enterprise Homes developed the building, which holds 34 one-bedroom, 27 two-bedroom and seven three-bedroom apartments, with average rents at approximately $750 per month.
Designed by Marks, Thomas Architects and built by Harkins Builders, Inc., the development is part of a wave of redevelopment activity on downtown’s West Side.
“Downtown continues to be the fastest growing neighborhood in the City,” Pugh said, “and Mulberry at Park adds much-needed affordable housing to the mix, making the dream of living in the heart of the City a reality for a broader percentage of Baltimore’s hardworking residents.”
Mulberry at Park “benefits both its residents and its neighborhood by offering affordable downtown apartments in Mount Vernon, and convenient access to employment and cultural centers” said Chickie Grayson, president and CEO of Enterprise Homes.
Bank of America provided $15.8 million in construction financing, tax credit equity and permanent financing. Additional financing sources include the Maryland Department of Housing and Community Development ($1.5 million) Baltimore City ($870,000) and the Federal Home Loan Bank of Atlanta ($500,000). Habitat America is the property manager.