Celebrating the Financial Closing of Heritage Crossing in Baltimore
Heritage Crossing involves the resyndication, RAD conversion and preservation of 75 affordable homes for families in Baltimore. Four homes are being set aside for residents with physical disabilities, and two more are set aside for those with hearing and visual impairments. Heritage Crossing involves closely scattered rental housing intermixed with owner occupied homes across fifteen city blocks.
Permanent financing includes a $6.54 million FHA loan from SunTrust, $3.03 million from Maryland Department of Community Development, and $2.75 million from a HABC Affiliate. Enterprise was thrilled to provide $4.26 million of equity for this development.