Broadhouse Property Management
Broadhouse Property Management – Somerset Eutaw Place Partners in partnership with the non-profit Memorial Apartments Corporation (MAC), has completed construction of The Jordan Apartments in Baltimore, a new 62-unit market-rate apartment building with a pub gastro-neighbourhood, on the ground floor. The Jordan represents the second phase of redevelopment of the original 3.6 acre Memorial Apartments site located in Baltimore’s Bolton Hill neighborhood. The original site was subdivided to provide, in the first phase, for the $26 million renovation and preservation of 266 affordable units at Memorial Apartments — now named Linden Park Apartments — and to build new apartments at a rate of -market to create a new mixed income community. The award-winning Linden Park Apartments provides affordable senior living in a state-of-the-art building with many amenities and services.
Jordan Apartments has a fitness center, community space with full kitchen and roof terrace, bike storage, dog park, and gardens. Downstairs is a new gastro-pub called Tilted Row, run by the owners of Cafe Fili in Mount Vernon. The building is within walking distance of the Maryland Institute College of Art (MICA), the University of Baltimore (UB), the downtown campus of the University of Maryland and the Center of the State and has easy access to bus lines and the metro. The building is certified in the National Green Building Standards and Energy Star Homes. The modern architecture matches the scale and character of the surrounding historic neighborhood.
Broadhouse Property Management
Completed in the Summer of 2019, the redevelopment of the site as a mixed-use, mixed-income community fulfills the neighborhood vision set forth in HUD’s Choice Neighborhood Plan and complements ” missing tooth” of the urban fabric on Eutaw Place and McMechen. Roads. Jordan is catalyzing the revitalization of the Eutaw Place corridor, tying Bolton Hill and the neighborhoods west of Eutaw Place together into a vibrant, mixed-income, transit-oriented neighborhood . The development represents the re-establishment of this important intersection by replacing what was a derelict surface car park with a beautifully designed apartment building. With MICA and UB in the neighborhood and easy access to the city center, Jordan is an ideal location for students, administrators, young professionals, and empty nesters.
History Repeats On Housing, But How Long Will This Last?
Next door to the Jordan along Eutaw Place, Somerset Development Company and MAC partnered again to purchase Unity Hall with the intent of turning it into a Community Arts, Education and Training Center to bring the surrounding neighborhood together on both sides of Eutaw Place.
The development was financed with an FHA-insured first mortgage of $11.7 million through the loan division of Wells Fargo Bank under HUD’s 221(d)(4) program and $2.5 million of Developer’s equity.
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