REDI certified developers balance making financially sound investments in undervalued neighborhoods while paying attention to people and their needs.
A building that was once home to a popular Baltimore restaurant sat vacant for nearly 20 years, reflecting its blighted surroundings. In 2010, Station North Development Partners, SA+A Development, Ernst Valery Investments, the Reinvestment Fund, and Stratford Capital came together to purchase the property from the City of Baltimore.
In 2013, the Chesapeake restaurant was back in business and the rest of the building was developed to create retail space, event and office spaces, and apartments.
Partnering with the Baltimore Integration Partnership, the restaurant created 43 permanent jobs for local residents. As part of the leasing criteria, the restaurant and other businesses must show a commitment to establishing economic inclusion through local hiring, purchasing, and community reinvestment.
The project is a crucial piece to revitalizing the Station North neighborhood, which is a short walk from major public transit, including Amtrak and MARC commuter trains.Learn More
In 2010, Somerset Development Company and THCAH entered into a purchase contract with the owners of Webster Gardens, a 52 unit apartment complex located in Ward 4, one block from the Armed Forces Retirement Home (Old Soldiers Home). EVI provided equity for the redevelopment of the property.
Built in 1921, Webster Gardens is one of the earliest garden apartments in the District of Columbia. The redevelopment of Webster Gardens preserved the affordability of the property for a range of family incomes, provided upgrades in the infrastructure and safety standards, thoroughly renovated all of the units and common spaces, remediated the environmental hazards and improved energy efficiency, built out new community spaces and a business center, provided on-site management, and preserved the historic character of the building.Learn More
Union Mill, a multi-use building in the heart of Baltimore, was redeveloped by Seawall Development Company after decades of neglect. The newly developed property includes 56 affordable residential units, 25,000 square feet of office space, and communal green space.
The building was designed with the needs of local teachers in mind and with an eye to create affordable work space for nonprofits working within the community and beyond.
Teachers are eligible for a $300-$600 discount on units and non-profits also get reduced rents along with other amenities and services to help them focus their time and resources towards their mission.Learn More