BALTIMORE — Construction is underway on Phase II of Keys Pointe, a $36 million affordable housing development in Baltimore. Stakeholders include the Housing Authority of Baltimore City (HABC) and developers The Michaels Organization and Affordable Homes and Communities of Greater Baltimore (AHC). The multi-phase project is a redevelopment of the O’Donnell Heights public housing community that was constructed in 1942 in East Baltimore.
This newest complex will offer 60 affordable apartments, with floor plans that range from one- to four-bedroom apartments within townhouse-style buildings. Residents will have access to Keys Pointe’s shared amenities, including community spaces, an outdoor fitness circuit and two playgrounds. This project, known as Keys Pointe 2A, represents one part of Phase II and ties into the overall four-phase master plan.
In addition to the apartment homes, this phase includes new public and private infrastructure, including three new public roads with on-street parking for residents and guests, as well as accessible sidewalks. In addition, an existing bus stop adjacent to the development will be upgraded with a new concrete island.
Financing for Keys Pointe 2A included $13.5 million in private equity raised through the sale of federal Low-Income Housing Tax Credits and $8.2 million from Freddie Mac as a first mortgage. Berkadia syndicated the tax credits, which were invested in by Truist. HABC provided $7.7 million in Moving to Work funds, while Baltimore City provided $2.9 million in American Rescue Plan Act (ARPA) funds and $1 million in Department of Housing and Community Development Affordable Housing Trust (DHCD) dollars. Maryland Community Development Administration issued tax-exempt bonds.
Additional members of the development team include Bozzuto Construction, which is serving as the general contractor. Moseley Architects provided planning and architectural services, and Morris Ritchie Associates provided civil engineering services. A completion date and area median income caps for rents were not disclosed.