Creating a new apartment community offering affordable housing can be challenging enough. Doing it while working through not one but two different local land use processes can add extra complexity.
But the development team at Green Street Housing persevered to open The Village at Blenheim Run in late June of last year, the first phase of a new community serving families in the outer Baltimore suburb of Havre de Grace.
In recognition of their accomplishment, the 51-unit complex offering a mix of one-, two- and three-bedroom apartments earned the $21 million project a 2024 Impact Award for multifamily development of the year, as judged by real estate professionals familiar with the market.
The developers broke ground on the project back in 2021 and in the intervening years the property was annexed from Harford County into the city of Havre de Grace, requiring the city to amend its zoning to allow for multifamily construction.
The property took advantage of a low-income housing tax credit program as well as a grant won through Federal Home Loan Bank of Atlanta to complement bank financing. The project also makes use of solar panels to help offset electricity costs. The developers were rewarded for their efforts as the project was fully leased by the end of the year.
"I think it's impactful as the area in general lacks low-income housing availability," wrote Chris Lamb, an Impact Awards judge who serves as vice president for asset management at Beatty Development Group.
About the Project: The apartment complex takes its name from Blenheim Run Creek, which runs through the property. A new road servicing the property was dubbed "Harriet's Way" in honor of Harriet Tubman, an American abolitionist and social activist who helped organize a series of safe houses known as the Underground Railroad to help those escaping slavery in the mid-1800s
What the Judges Said: The project "satisfied a need for affordable housing while also incorporating green energy solutions; a model that should be duplicated throughout the market," wrote David Dannenfelser, a managing director for the real estate services firm Cushman and Wakefield
They Made It Happen: Chase Powell, director of development, Tom Ayd, principal and Ray Perdue, development manager for Green Street Housing.
Senior market manager Nina Thilert contributed.