Tenants will move into a handful of rehabbed rowhomes in Baltimore’s Johnston Square neighborhood this summer as part of a $100 million wave of development.
The five three-bed, three-bath homes starting at 430 E. Biddle St., across the block from St. Frances Academy on East Chase Street, are the first of 15 rowhomes undergoing rehabilitation specifically to house teachers. The units, once completed, will stretch to 630 E. Biddle St. and make up Teachers Square, one piece of community developer ReBUILD Metro’s current $100 million phase that will also bring a multifamily apartment complex, a makerspace, a park and dozens of other rehabbed homes to the neighborhood in 2024 and 2025.
“We approach redevelopment as a market. Any one project is part of a much larger set of investments,” ReBUILD Metro President Sean Closkey told the Baltimore Business Journal in an interview.
The teacher homes are being rehabbed by Baltimore’s Edgemont Builders and cost roughly $8 million. That includes $3 million from city and federal grant funding plus $5 million via a low interest loan, which allows the homes to be leased at affordable rates. The homes will rent to three tenants each for $650 to $800 per room, utilities included, and will come with furniture, washers and dryers and parking options.
Click here to read the rest of the article written by Joe Ilardi over at Baltimore Business Journal
