The Park Heights neighborhood of Baltimore, MD has become the focus of a $400 million, 17.3-acre revitalization initiative which seeks to transform the historically dis-invested community into a mixed-income, multi-generational, transit-friendly neighborhood through sustainable, long-term investment. The multiple-award winning Terraces at Park Heights is phase one of this monumental project addressing critical demand for more affordable housing.

The Terraces at Park Heights is the new construction of 100% affordable senior housing integrating modern amenities with recreational spaces. The property design pays homage to architectural styles of the historic Park Avenue locale while exceeding National Green Building standards.

The Terraces at Park Heights is comprised of 90 one-bedroom units and ten two-bedroom units within one, elevator-serviced, four-story residential building. Every unit is restricted to senior residents earning 30%-60% of the AMI, with five units built to the Uniform Federal Accessibility standards and three more constructed for visual and hearing-impaired residents.

In addition to multiple on-site, shared amenities, like resident services, a fitness center, a café-like coffee bar, and community center geared toward creative programming for residents and the surrounding neighborhood, Park Heights is also located less than two miles from vital healthcare access at Sinai Hospital and various Lifebridge service centers.

The Terraces at Park Heights was financed with 4% tax credit equity provided by R4 Capital, as well as multiple loans and grants provided by the city and state.