Hollander Ridge

Affordable Housing in Baltimore, Maryland

Hollander Ridge is a 94-unit scattered site property located throughout Baltimore City, Maryland. The units include attached, semi-attached and detached single family houses. Hollander Ridge includes one- to four-bedroom house types, with each house being unique in design, construction, and other physical features such as decks, patios and garages. The properties were acquired on April 29, 2020 and immediately underwent rehabilitation.  Most homes underwent only moderate rehabilitation, while others required more extensive replacement of core systems such as HVAC replacements and total kitchen replacements (new appliances, etc.).

Total Cost

$41,035,862

Financing: Tax Credit Rehabilitation
Secured financing and funding for this project include:

$10,702,0344% LIHTC Equity
$9,445,650Seller Note
$7,246,113Third Party Loan
$6,228,000Perm Loan / T-E Bonds (Freddie Mac)
$2,500,000Rental Housing Works Funding
$2,379,000Baltimore Affordable Housing Development (BAHD) Soft Loan
$1,500,000Rental Housing Partnership Funding
$1,414,898Deferred Developer Fee