NHP Foundation Breaks Ground on $52M Senior Living Community
The affordable housing project is part of a major revitalization plan in Baltimore.
The Park Heights Senior Apartments will meet the National Green Building Standards for energy efficiency. Image courtesy of The NHP Foundation
The NHP Foundation has broken ground on Park Heights Senior Apartments, a 100-unit affordable senior housing community in Baltimore. The development, which marks NHP’s fourth affordable housing property in the city, is expected to be completed in mid-2025.
The $52 million project received financing from multiple sources:
- $8.7 million from HUD
- $22.5 million from the sale of tax credits to R4 Capital in conjunction with Aetna
- $13.3 million provided by the City of Baltimore
- $5.4 million from Maryland CDA
- $2.1 million in deferred developer fee
The new community will incorporate one- and two-bedroom floorplans. Common-area amenities are set to include a fitness center, a library, a computer center, a coffee bar, a kitchen and lounge areas. Park Heights Senior Apartments will meet the National Green Building Standards for energy efficiency and will feature rooftop, carport and gazebo mounted solar panels, as well as battery storage. The developer plans to use building materials and practices, which will reduce energy usage, pollution and waste.
NHP Foundation purchased the vacant lot at 4710 Park Heights Ave. from the City of Baltimore. The 17.3-acre site is close to Interstate 83, which provides direct access to downtown Baltimore. Sinai Hospital, Woodberry Woods and West Cold Spring Metro Station are within a 1.5-mile radius from the development.
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Part of a major redevelopment plan
The construction of Park Heights Senior Apartments represents a first phase of the Park Heights Major Development, a revitalization plan for the neighborhood. On a larger scale, the Park Heights Master Plan area covering 1,500 acres marks the largest redevelopment effort in Maryland’s history.
The Park Heights Major Development initiative also includes the construction of a multifamily apartment building adjacent to the senior living community, 17 for-sale homes, the redevelopment of Pimlico Racecourse, the construction of the new Enoch Pratt Free Library and two developments by Comprehensive Housing Assistance Inc. Plans also call for brand new infrastructure including new water, sewer, stormwater facilities, curbs, gutters and sidewalks.
