$100M Private Capital Effort Launched to Address Baltimore Vacant Housing Issues
The Greater Baltimore Committee (GCB) plans to launch a new Funders’ Consortium in November as part of its work with Enterprise Community Partners to develop a strategic investment framework. The initiative aims to align capital with a pipeline of projects and ultimately create a $100 million private fund to drive large-scale investment in Baltimore’s most challenged housing markets.
These efforts complement the $1.2 billion in public funding already committed to address vacant housing in Baltimore. The Funders’ Consortium will bring public, private, and philanthropic funders together around a growing pipeline of redevelopment activity. The move aims to support projects with remaining financing gaps, aligning different sources of capital to advance them.
The initiative builds on a partnership launched in December 2023 by GBC, Baltimoreans United in Leadership Development (BUILD) and the Mayor’s Office to address vacant and vulnerable properties. That work established a long-term strategy centered on more than $3 billion in public investment over 15 years, designed to address at least 37,000 properties and related infrastructure and leverage significant additional private investment.
Other News
Lewis Group Opens Second NorCal Rental-Home Community in West Sacramento
Independence in West Sacramento, a new gated community of 208 townhome-style rental homes developed by Lewis Apartments, opened its leasing office and model homes to the public on Saturday, Oct. 24. Located in West Sacramento’s Southport/Bridgeway Island area, Independence introduces rental homes designed for residents who want the space and privacy of a single-family home...
Learn more
CBRE Arranges Sale of Future Mixed-Use Development in Wisconsin
CBRE announced the sale of a 4.66-acre parcel at the northwest corner of County Highway MM and U.S. Highway 14 in Fitchburg, Wisconsin. Louisville, Kentucky-based Trilogy Real Estate Fitchburg LLC purchased the property from Fairchild Development LLC for $2.23 million, marking the company’s third location in the Madison market and expanding its footprint beyond its...
Learn more
Northmarq Arranges $96M Refi on SoCal Apartment Portfolio
Northmarq has arranged $95.8 million in refinancing for a six-property, 1,461-unit multifamily portfolio owned and operated by E&S Ring across Los Angeles and San Bernardino Counties. The financing was arranged through Voya Investment Management by Northmarq’s San Francisco Debt + Equity team, led by managing director Nathan Prouty, SVP Andrew Slaton Aand senior investment anaylst...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout