Celebrating the Grand Opening of Metro Heights at Mondawmin in Baltimore
Congratulations to Enterprise Homes on the grand opening of Metro Heights at Mondawmin in Baltimore. This development creates 70 affordable homes for families, including 11 for households with disabilities and seven for households experiencing or at risk of homelessness. Enterprise Homes will coordinate with several community partners to provide health and fitness education, financial literary, workforce development, and family services to residents.
Metro Heights at Mondawmin is in excellent location adjacent to the Mondawmin Mall, which includes a grocery, other retailers, and a Metrorail station. This represents an important investment in a neighborhood affected by the Baltimore protests and civil unrest that occurred in the spring of 2015.
SunTrust provided $14.0 million of Construction financing. Permanent financing includes $2.1 million from Bellwether Enterprise, $2.0 million from Maryland Department of Housing & Community Development, and $1.25 million of Baltimore HOME funds. Enterprise is excited to provide $16.05 million in equity.