This 320, deteriorated, barracks-style, 50+year-old apartment complex located at the gateway to Cherry Hill was the blight of this south Baltimore neighborhood and a magnet for local crime.
In partnership with a local-nonprofit organization and the Cherry Hill 2000 Master Plan, thirty-four of the buildings (68 units) were demolished to reduce density and to make way for future homeownership. The remaining 126 buildings (with 252 units) were converted to two-story townhouses by combining the two bedroom units on the first floor with identical units on the second floor to create two story three(3) or four (4) bedroom townhouses ranging in size from 1200 to 1800 square feet. In Phase II, the non-profit partner developed and sold 24 townhouses. Thus, a new mixed-income, mixed financed, mixed tenured community was born and unit density was reduced by more than 50%.
This “New Urbanist” traditional Baltimore-style townhouse community consists of 126 rental townhouses and 24 single-family, owner-occupied townhouses. These spacious residences include a mix of features such as front porches, bay windows, cozy backyards, parking pads and privacy fences. The owner-occupied homes include garages.
At the end of the tax credit compliance period, the rental townhomes will be converted to affordable owner-occupied residences made possible, in part, by a unique Homeowners Incentive Savings Program that helps residents build equity and improve their financial credit scores.
This thriving new community known as Riverfront Townhomes, was highlighted in Fannie Mae’s American Dream Annual Report for fiscal year 2001.
- Crestar Bank/SunTrust
- MD State Rental Housing
- City of Baltimore