Celebrating the Financial Closing of Metro Heights at Mondawmin
Enterprise Homes, Inc. recently celebrated the financial closing for Metro Heights at Mondawmin in Baltimore! The 70-home affordable housing development will provide housing for families and for residents with special needs. Its location next to the Mondawmin Mall and Metro Station will provide tenants exceptional access to daily amenities and public transportation.
SunTrust is providing $14 million in construction financing. Permanent financing includes a $2.2 million loan from Bellwether Enterprise, a $2 million Rental Housing Funds loan from Maryland Department of Housing and Community Development, and a $1.25 million HOME loan from the City of Baltimore. Enterprise is providing $16 million of equity.