Baltimore nonprofits, developer secure financing for $44M mixed-use community 

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BRIDGES Community Development Corporation and Bon Secours Unity Properties, both Baltimore-based nonprofits, teamed up with housing developer WinnDevelopment to secure financing for construction of a $44 million mixed-use community in Northwest Baltimore.

The construction project – which will produce “the Residences at Belvedere Place” – is expected to bring 83 affordable rental housing units and small business commercial space to the Park Heights community. 

BRIDGES CDC initiated plans for the development in 2018 that included the renovation of vacant homes and expanding its food pantry, according to a release. 

According to WinnDevelopment, 10 vacant and underutilized parcels in Park Heights were assembled to create the 2.2-acre development site. The structures were removed beginning in the 1990s and the final commercial property will be removed this year.

“The BRIDGES Master Plan is borne out of its mission to engage with the community to bring about revitalization in the built environment and the human spirit,” BRIDGES CDC President Michael Gaines said. 

“The Residences at Belvedere Place is a transformational project that will contribute to the accomplishment of this mission. As the initiating partner in the project, BRIDGES is loaning $6 million to the project from various grants it secured over the years.”

The Residences at Belvedere Place will contain 21 one-bedroom apartments, 53 two-bedroom apartments and nine three-bedroom apartments. 

Certain units will be specially designated for households earning at or below 50 and 60 percent of the area median income, and other units of supportive housing will be created for families transitioning from homelessness, according to a release.

The four-story building spans 112,102 square feet and includes 8,442 square feet of ground-floor retail space with surface parking for residents, club rooms, a fitness room and a space featuring plat and art displays.

Financing partners for the project include the Maryland Department of Housing and Community Development, the City of Baltimore, the Bank of America and Newpoint Capital. 

Construction is underway and is slated for completion in the spring of 2027.