Sharp-Leadenhall Project to Provide Affordable Housing for 192 Families

CROWNSVILLE, MD (April 23) – Maryland Department of Housing and Community Development Secretary Raymond A. Skinner has announced the commencement of the Sharp Leadenhall Apartment development in south Baltimore, just blocks from Camden Yards and M&T Bank Stadium. The project involves the acquisition and rehabilitation of 192 apartments for families.

The property, which is almost 30 years old, is comprised of 13 townhouse buildings and one six-story mid-rise building. The mid-rise building houses 77 units and the remaining 115 units are located in the townhouse buildings.

“Projects such as this are much needed especially during these challenging economic times when the short supply of affordable rental housing is particularly acute,” said Secretary Skinner. “This effort reaffirms the O’Malley-Brown administration’s commitment to putting families first by developing more affordable housing opportunities for Baltimore City’s workforce and their families.”

DHCD’s support of this project primarily comes in the form of an allocation of approximately $773,000 of federal Low Income Housing Tax Credits, which generated over $5.9 million in equity, as well as the reservation of nearly $17 million by way of a Multifamily Bond Program loan.

All units will be occupied by households with annual incomes at 60% of Area Median Income (AMI) or below. Tenants received rental assistance through a project-based Section 8 contract from the U.S. Department of Housing and Urban Development (HUD).

Sharp Leadenhall Apartments is being developed by Evergreen Properties. The general contractor is Whiting Turner, and the property manager is Preservation Management.

The Sharp Leadenhall development is just one of many DHCD projects that incorporate Smart, Green & Growing components. Smart, Green & Growing is a multi-agency, statewide initiative launched by Governor Martin O’Malley to help Maryland achieve a more sustainable future by linking community revitalization, transportation improvements, economic development, smart growth and environmental restoration efforts. For more information, please visit Maryland: Smart, Green and Growing

The Maryland Department of Housing and Community Development works with partners to finance housing opportunities and revitalize great places for Maryland citizens to live, work and prosper. To learn more about DHCD and its programs, visit Department of Housing and Community Development (DHCD).