State of Maryland Supports Creation of 150 New Affordable Apartments in Baltimore City Through Strategic Housing Investments
ANNAPOLIS, MD – Governor Wes Moore announced today that the Maryland Department of Housing and Community Development has closed financing for the State of Maryland’s latest investment in the redevelopment of Perkins Homes in Baltimore City. The department will administer more than $49.3 million in federal Low-Income Housing Tax Credits, bond financing, and state Rental Housing Works funds for the new construction of 150 affordable apartments.
“For it to be Maryland’s decade, it has to be Baltimore’s time,” said Gov. Moore. “We’re protecting and expanding affordable housing opportunities, including our continued investment in the redevelopment of Perkins Homes because our administration is dedicated to revitalizing Baltimore through thoughtful investments and community partnerships that support thriving neighborhoods and strengthen the entire city.”
The department’s investment in Phases 5A and 5B of the Perkins Homes redevelopment continues the State of Maryland’s ongoing partnership with the Housing Authority of Baltimore City to demolish and redevelop two aging public housing complexes, Perkins Homes and Somerset Homes, in East Baltimore. Modernizing these two apartment complexes is a key component of Baltimore City’s Perkins-Somerset-Oldtown (PSO) Transformation Plan to revitalize three communities and the commercial corridor bordering the Johns Hopkins Medical Campus.
During the Moore-Miller administration, the Maryland Department of Housing and Community Development has administered nearly $292 million to support the redevelopment of Perkins Homes and Somerset Homes through bond financing, low-income housing tax credit equity, and state Rental Housing Works funding.
“A housing initiative of this magnitude requires commitment and cooperation from all levels of government supported by strong private, philanthropic, and nonprofit partnership,” said Maryland Department of Housing and Community Development Secretary Jake Day. “This latest investment in the transformation of Perkins Somerset Oldtown marks another milestone to preserve and modernize these apartment communities and make sure the homes they provide remain affordable.”
When all phases are complete, the redeveloped Perkins Homes apartments will feature 1,346 high quality, energy-efficient rental units. Of the 1,346 units, 73 percent will be reserved as affordable housing. These units will replace the original 652 public housing units while creating 329 additional, new, affordable units. The remaining 27 percent, or 365 units, will be market rate units resulting in a vibrant, new mixed-income community.
“The Perkins Homes redevelopment is a prime example of how partnership between the State, the City, and most importantly, our residents is driving progress on affordable housing across Baltimore,” said Mayor Brandon M. Scott. “This project is especially meaningful because legacy Baltimoreans have helped to shape it from the beginning. Their impact is clear throughout this project, which brings new, affordable housing units and broader revitalization that will benefit the entire community.”
The latest development phase for Perkins Square will be led by McCormack Baron Salazar, a company that has partnered with the Housing Authority of Baltimore City on previous phases of construction and will also serve as property manager. The for-profit developer specializes in community development and urban revitalization and has built more than 22,000 high-quality homes for families, children, seniors, and veterans in 47 cities.
“When we began this work, the vision was about much more than replacing buildings. It was about creating a truly mixed-income neighborhood while honoring the commitment made to the families who called Perkins Homes home,” said Vincent Bennett, CEO and President of McCormack Baron Salazar. “With 715 homes now complete or moving into construction, we are nearing the finish line on an extraordinary transformation. Most importantly, every former Perkins household has been offered the opportunity to return, and families are continuing to come home to the new Perkins Square. We are grateful to the residents and the many public and private partners whose commitment has made this possible.”
“The Housing Authority of Baltimore City is advancing the Perkins‑Somerset‑Oldtown transformation with one clear goal: real results for the families who live here. These new communities mark another strong step toward a more stable future for residents who have waited a long time for this investment,” said President and CEO of the Housing Authority of Baltimore City Janet Abrahams. “We appreciate the State’s partnership and shared commitment to ensuring every returning household has safe, high‑quality, affordable housing in a community built for opportunity.”
For more information about the State of Maryland’s work to create and preserve affordable rental housing in Baltimore City and across Maryland, visit the Maryland Department of Housing and Community Development website.
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CONTACT
Allison Foster, Director of Communications | allison.foster@maryland.gov
