Sign In
Free Newsletter
A $1 million investment from the Baltimore Community Foundation will fund renovations to The Mayflower Apartments in east Baltimore to update the property to offer 64 units, with half of the units designated for formerly unhoused individuals who are trying to obtain housing using the public voucher system. The other half will be reserved for affordable housing renters. (Photo courtesy of Baltimore Community Foundation)
Baltimore Community Foundation invests $1M for more affordable housing in east Baltimore
The Baltimore Community Foundation partnered with national nonprofit Community Solutions and Thursday announced a $1 million investment in the Mayflower Apartments, helping provide more housing resources for individuals exiting homelessness or in need of affordable housing.
The Mayflower Apartments, at 4004-4012 Biddison Lane in the Pen Lucy neighborhood of east Baltimore, is one several multifamily complexes nationwide under Community Solutions’ Large Cities Housing Fund, a social-impact private equity fund addressing the country’s housing gap.
The $1 million investment is earmarked for permanent financing, which may be used to fund remaining improvements, but also is meant to affordably capitalize the project and secure its ownership under Community Solutions and its management model for at least the next 10 years.
The renovations will allow for the availability of 64 units, with half of the units designated for formerly unhoused individuals who are trying to obtain housing using the public voucher system. The other half will be reserved for affordable housing renters.
Based in New York City, Community Solutions has partnered with Baltimore, Charlotte, North Carolina; Denver, Jacksonville, Florida; Nashville, Tennessee; and Phoenix via its Large City Housing Fund which just closed upon reaching $135 million after launching in 2022.
