Druid Heights Community Development Corporation (DHCDC) has been working diligently to encourage community development in Druid Heights since the 1970s. Located in central West Baltimore, Druid Heights is one of Baltimore’s oldest neighborhoods with a rich historical background. It’s mostly residential, and yet less than 30% of the homes are owner-occupied.
The Bakers View project is a core element of DHCDC’s effort to expand homeownership in the neighborhood and create wealth building opportunities for residents. With support from Baltimore City Department of Housing & Community Development, the project aims to create 57 quality, for-sale, single-family homes available to buyers earning up to 120% of the Area Median Income (AMI).
The Neighborhood Impact Investment Fund (NIIF) is pleased to have recently closed a second construction loan facility to DHCDC for $990k to finance an additional 4 affordable townhomes for homeownership. The loan is a hybrid facility that combines a bridge loan to advance funding from grant awards and a construction loan to be repaid through proceeds from the sale of the houses. This combined structure is a key product offering for NIIF, which provided a similar facility to DHCDC in 2023 for four houses that have already been completed and sold.
The projected is also supported by grants from Maryland Department of Housing and Community Development (DHCD) and West North Avenue Development Authority and the units are already under construction with plans to be delivered later this year. NIIF is proud to be one of the partners with DHCDC as it works to support homeownership and accelerate revitalization in the neighborhood.