Enterprise Homes has broken ground on a $22.3 million development in the Bromo Tower Arts & Entertainment District in downtown Baltimore.
Mulberry at Park Apartments will feature 34 one-bedroom, 27 two-bedroom, and seven three-bedroom apartments, with rents ranging from $773 to $1,155. Designed by Marks, Thomas Architects, the building is designed to complement the neighborhood’s historic architecture. Amenities will include a cyber-café/multipurpose room, study room, fitness center, and outdoor terrace area. The development will meet Enterprise Green Communities Criteria and LEED Silver standards, offering energy-efficient features such as double-pane, low-E windows; water-conserving plumbing fixtures; Energy Star appliances; energy-saving light fixtures; and Green Label carpet. Habitat America will provide on-site resident services.
Bank of America Merrill Lynch is providing $15.8 million in construction financing, low-income housing tax credit equity, and permanent financing. Additional financing sources include the state of Maryland Department of Housing and Community Development ($1.5 million) and Baltimore City ($870,000).
“We’re continuing our commitment to build high-quality homes in Baltimore,” said Chickie Grayson, president and CEO, Enterprise Homes. “This new community brings Enterprise closer to our goal of ending housing insecurity within a generation by creating opportunity for people and providing them with connections to jobs, good schools, transit and health care.”