CHP Begins Largest Real Estate Development in Its History
Community Housing Partners (CHP) has created and preserved affordable, sustainable homes for decades. Now, it has commenced the largest real estate development project in the nonprofit’s history following the acquisition of a 20-story, 350-unit apartment community in Baltimore’s Charles North neighborhood.
On Nov. 29, CHP closed on J. Van Story Branch Apartments, which serves senior and non-elderly disabled populations, and will be guiding a $72 million Rental Assistance Demonstration (RAD) conversion over the next 18 months. Funding was secured through a number of sources, including the U.S. Department of Housing and Urban Development’s Low Income Housing Tax Credits, the Maryland Community Development Administration, and the Housing Authority of Baltimore City (HABC).
The building, which opened in 1972, will see significant renovations starting in January. All apartments will be remodeled, and CHP has already begun upgrading temporary units where residents will stay during renovations in their apartments. A new laundry room will be added to each floor, and common spaces, including community rooms, lobby, hallways, entrances and outdoor areas, will be renovated. An additional elevator will be installed. All systems, including HVAC and security, will be updated.
“The extensive redevelopment taking place at J. Van Story Branch Apartments is a major milestone for us,” said David Schultz, Senior Vice President for Real Estate Development at Community Housing Partners. “We are excited to be a part of this community transformation. We are proud to contribute to helping improve the quality of life of our residents and to be expanding and strengthening our partnerships in Baltimore and the surrounding area.”
On Dec. 6, CHP organized a celebration for residents to meet CHP staff and project partners to better understand the renovations and its impact on them. (Read about CHP’s earlier meeting with residents on the renovation plans.)
“Our commitment is to provide a comfortable, safe and healthy place for our residents,” said Andy Hall, Chief Operating Officer at CHP. “We have already seen that J. Van Story Branch residents are eager for the improvements we will be making to their apartments, the building, and the services that contribute to their well-being. We have also been working to establish partnerships with local organizations to provide space for health and wellness activities in the building.”
J. Van Story Branch is the second property that CHP has purchased and managed in the Baltimore area, following its renovation of the 125-unit Primrose Place Apartments in southwest Baltimore in 2016. For both projects, CHP has worked with Southway Builders, a Baltimore-based construction management firm with clients throughout the Mid-Atlantic.