In June 2022, NIIF provided a $3.5 million bridge loan to support Phase 1 of revitalization of the now-vacant Madison Park Property, a strategic location between Bolton Hill and Reservoir Hill, Station North and West Baltimore. The project will create 120 for-sale townhome units, a new street grid, traffic lights, and public space.
The town homes represent the first phase in the long awaited redevelopment of the site as a mixed use community that will ultimately include commercial and office components as well. The eight-acre parcel on North Avenue, between Park and Linden Avenues, previously housed apartments that were built in the 1970s as an urban renewal project and subsequently razed in 2017.
The MPN project is being led by MCB Real Estate, along with MLR Partners and Atapco Properties. “This is a significant project for the City that will serve as a gateway to West Baltimore,” said MCB’s David Bramble. “it represents true neighborhood development, and we are pleased to have NIIF as a partner in this important effort.”