The next phases of redevelopment of the former Perkins Homes public housing community in East Baltimore are set to begin this fall and will add 150 apartments.
The Housing Authority of Baltimore City and the developer McCormack Baron Salazar (MBS) have closed on more than $87 million worth of investment as part of Phases 5A and 5B of Perkins Square, the $398 million project transforming the former Perkins Homes.
“When we began this work, the vision was about much more than replacing buildings. It was about creating a truly mixed-income neighborhood while honoring the commitment made to the families who called Perkins Homes home,” said Vincent Bennett, CEO and President of McCormack Baron Salazar.
The first three phases of the housing project have been completed and are now occupied, and the fourth phase is currently under construction and running ahead of schedule, according to the developer.
Phases 5A and 5B are expected to be completed in 2028. Upon their completion, 715 of the 795 planned homes at Perkins Square will have been built.
That leaves Phase 5C, which will include the construction of the remaining 80 units.
In an effort to create affordable housing, 67 apartments across Phases 5A and 5B will receive project-based voucher assistance. This is part of the redevelopment’s one-for-one replacement commitment for the original Perkins Homes public housing units.
“With 715 homes now complete or moving into construction, we are nearing the finish line on an extraordinary transformation,” said Bennett, of MBS. “Most importantly, every former Perkins household has been offered the opportunity to return, and families are continuing to come home to the new Perkins Square. We are grateful to the residents, HABC and the many public and private partners whose commitment has made this possible.”
Among the 150 apartments in Phases 5A and 5B will be 111 income-restricted properties and 39 market-rate homes.
Phase 5A will include 60 apartments and will cost about $41.6 million. Phase 5B will include 90 apartments and will cost about $45.7 million.
MBS and HABC have partnered on the Perkins Square project, with support from a $40 million HUD Choice Neighborhoods Implementation (CNI) grant awarded in 2018. The redevelopment is part of the larger Perkins Somerset Oldtown (PSO) Transformation. The state of Maryland has committed more than $256 million to the broader PSO Transformation.
The project also includes new public streets and infrastructure; on-site amenities such as a fitness center, community rooms and a computer lab; and comprehensive resident services delivered by Urban Strategies, Inc.
The Baltimore Curriculum Project operates City Springs Elementary and Middle School next to the community. A new $69 million school building is scheduled to open in 2027.
The project architect for Perkins Square is Hord Coplan Macht, and the general contractor is Commercial Construction Group.
RBC Community Investments provided financing for Phases 5A and 5B as a tax credit equity investor. Financing also came from the Maryland Department of Housing and Community Development, the City of Baltimore and its Department of Housing and Community Development, HABC, and HUD. Cconstruction financing is being provided by Legacy Bank and Trust.
