HABC, Michaels, and AHC-Greater Baltimore Host Ribbon-Cutting Event for Latest Phase of New Housing at Key's Pointe Residences
BALTIMORE, November 1, 2018 (Newswire.com) - The Housing Authority of Baltimore City (HABC), together with its private-sector partners, The Michaels Organization and AHC-Greater Baltimore, hosted a grand opening event for the newest phase of housing now open at Key’s Pointe. Key’s Pointe Residences is part of a comprehensive revitalization of O’Donnell Heights, a distressed public housing community located on Baltimore’s southeast side. The current revitalization plan for O’Donnell Heights calls for new affordable and market rate townhomes and apartments with new parks and green space.
“Today, we celebrate a major milestone in the transformation of O’Donnell Heights,” said HABC Executive Director Janet Abrahams. “At the heart of this revitalization initiative is the people we serve. Thanks to the support of our development, local, state and federal partners and the O’Donnell Heights community, we are fulfilling our mission of creating new affordable housing opportunities.”
It has been our privilege to be the Housing Authority's partner, whose vision for this critical redevelopment effort has been unwavering.
Curtis Adams, Vice President, Michaels Development
Key’s Pointe Residences Phase 1B offers 68 modern, high-energy efficiency apartments, in layouts from one- to four-bedrooms. There are 34 Section 8 project-based apartments for households with very low incomes. Fifteen of these apartments are reserved for persons with disabilities.
These newest apartment homes are built on streets adjacent to Phase 1A, a 76-unit townhouse-style apartment community that opened in 2014. New roads, along with new public infrastructure were introduced during the first phase, including new streetscapes and storm water bioretention facilities.
Residents of both phases can enjoy the community’s amenities, which include an outdoor fitness circuit, a central green park, two playgrounds, a computer center, a community meeting room, and a pavilion with seating and barbeque grills.
“It has been our privilege to be the Housing Authority’s partner, whose vision for this critical
redevelopment effort has been unwavering,” said Curtis Adams, Vice President of Michaels Development. “We are also grateful for the strong support of not only the city’s political leaders, but also many other local stakeholders, including the current and former residents of O’Donnell Heights.”
“AHC-Greater Baltimore is delighted to see the second phase of Keys Pointe Residences come to life,” said Mary Claire Davis, Director of AHC Greater Baltimore. “Thanks to a wonderful public-private partnership and an extensive community process, many O’Donnell Heights residents have a new, high- quality and affordable community they can call home along with additional services and recreation opportunities.”
Financing for the $23 million Key’s Pointe Residences Phase 1B includes $8.8 million in private capital raised through the sale of 4% Federal Low Income Housing Tax Credits, and $7.6 million in Replacement Housing Factor Funds from the HABC. The Maryland Department of Housing and Community Development contributed almost $500,000 in Rental Housing Works Funds. Riverside Capital invested in the tax credits.
About The Michaels Organization: A national leader in residential real estate, The Michaels Organization offers full-service capabilities in development, property management, finance, and construction. Michaels brings comprehensive solutions to communities that jump start housing, education, civic engagement and community prosperity, and is committed to creating communities that lift lives.
About the Housing Authority of Baltimore City (HABC): HABC was established in 1937 to provide federally-funded public housing programs and related services for Baltimore's low-income residents. The agency’s mission is to create and provide quality affordable housing opportunities in sustainable neighborhoods for the people it serves. HABC is one of the largest public housing authorities in the country, serving over 19,500 households through public housing, the Housing Choice Voucher Program, HUD's Rental Assistance Demonstration Program (RAD), and other rental assistance programs. For more information, visit www.habc.baltimorehousing.org.
About AHC-Greater Baltimore: AHC-Greater Baltimore has been in the Baltimore region since 2002 and has developed nine properties with more than 2,000 affordable apartments. Projects include Barclay Greenmount, Greenspring Overlook, Kirkwood House, Lansdowne Apartments, MonteVerde, Union Rowe, and Madera in addition to Key’s Pointe. AHC-Greater Baltimore is part of AHC, Inc., headquartered in Arlington, VA, a private, not-for-profit developer of affordable housing in the Mid-Atlantic region providing quality homes for low- and moderate-income families. Since its founding in 1975, AHC has built or preserved more than 7,000 apartment units in 50+ properties in Maryland, Virginia, and Washington, DC. The organization also provides onsite educational and social services programs to improve the quality of residents’ lives. For more information, visit www.ahcinc.org.
Source: The Michaels Organization