NIIF Investments

NIIF Provides $1.7 Million Construction Loan to Redevelop Station North Landmark

In December 2020, NIIF closed a $1.7 million construction loan to support the redevelopment of the former Odell’s nightclub located at 21 E. North Avenue in the Station North neighborhood into a vibrant community facility.  Originally constructed in 1909 as an auto showroom, the building later served as a dance academy and finally a nightclub named for its owner, Brock Odell.  The nightclub closed in 1992 and the building has been vacant since then.

Upon completion, the building will house two non-profits: Code in the Schools and Young Audiences of Maryland.  Code in the Schools provides computer science education programming to Baltimore City youth to help them thrive in school and in the workforce.  Young Audiences of Maryland partners with hundreds of schools and community organizations in all 24 Maryland school districts to transform the lives of our youth through arts programming.

The $6.5 million redevelopment is being led byJubilee Baltimore, a local nonprofit sponsor with roots in the Station North neighborhood, and Property Consulting, Inc.  The project will leverage state and federal Historic Tax Credits, New Market Tax Credits and significant support from the State of Maryland, Central Baltimore Partnership and private foundations in the community, as well as bridge financing from Reinvestment Fund.  The renovation builds on other successful projects in the neighborhood including The Centre Theatre and The Parkway.