Choice Neighborhoods Baltimore – Perkins Somerset Oldtown

Development, Financial Advisory


Completed

2024

Client

Housing Authority of Baltimore City

CSP Role

Co-Developer, Financial Advisory, General Contractor

Contact

Rachel Apostoles

Download a PDF of this project

Funded in 2010, the Choice Neighborhoods Initiative is a federal program that aims to catalyze change by supporting locally driven strategies to transform neighborhoods of extreme poverty into sustainable, mixed-income communities.

The program, which is administered by HUD, provides grants to fund critical improvements in community assets, including vacant property, housing, services, and schools, to support safe, thriving neighborhoods.

PSO Transformation Plan Overview

Located within minutes of Downtown Baltimore and the thriving waterfront, Perkins Somerset Oldtown (PSO) is a community of over 5,939 residents in 2,122 households. The target public housing site—Perkins Homes—is currently home to 587 families in 629 units. Built in 1942, Perkins Homes has long outlived its useful life such that complete demolition is now necessary.

The long-term vision of the PSO Transformation Plan is to convert Perkins Homes and the surrounding neighborhoods into a Community of Choice that promotes resident pride and unity among neighbors, and is integrated into the surrounding area.

The Housing Authority of Baltimore City (HABC) requested and was awarded $30M in Choice Neighborhoods Implementation grant funding that will leverage more than $540M in committed funding and investments from public, private, and nonprofit partners.

Approach

The PSO Transformation Plan recognizes that the heart of this neighborhood is its residents. As such, the Plan leverages the strengths of the community—building upon existing assets and harnessing the market forces already transforming nearby areas. This two-pronged approach will forge new connections between PSO and the Johns Hopkins Medical Campus to the north and the vibrant waterfront to the south.

PSO Transformation Plan Booklet
PSO Transformation Plan website

In The News: Choice Neighborhoods Baltimore – Perkins Somerset Oldtown

10/09/2018

East Baltimore Represents A Chance To Finally Do Affordable Housing Right

Bisnow Baltimore

07/19/2018

Baltimore neighborhoods — and lives — reimagined

The Baltimore Sun

07/20/2018

Baltimore Gets $30M Grant to Help Housing Redevelopment

U.S. News & World Report

07/19/2018

Baltimore receives $30 million federal HUD grant for Perkins Homes, East Baltimore redevelopment

The Baltimore Sun

06/18/2018

City to make 'special announcement' at Perkins Homes

Baltimore Business Journal

06/19/2018

Pugh administration seeks $102 million subsidy for East Baltimore, Perkins Homes redevelopment

The Baltimore Sun

06/18/2018

City seeks $102.3M TIF for massive redevelopment in East Baltimore

Baltimore Business Journal

05/02/2018

Baltimore creating $55 million neighborhood investment fund by leasing garages

Baltimore Business Journal

05/02/2018

Pugh launches $55 million investment fund for under invested communities

Baltimore Fishbowl

05/01/2018

New mixed-income housing project to kick off $1B redevelopment in East Baltimore

Baltimore Business Journal

04/18/2018

Baltimore named finalist for grant that would kick off East Baltimore redevelopment

Baltimore Business Journal

04/03/2018

Baltimore and its Developers Know Each Other

Bisnow

03/23/2018

City housing officials to seek up to $100M subsidy for East Baltimore development plan

The Baltimore Sun

03/21/2018

Residents, officials react to $1B redevelopment plan near downtown

Baltimore Business Journal

03/20/2018

Developers, city plot $1 billion plan to transform 200 acres near downtown

Baltimore Business Journal

09/25/2017

Financing options for redevelopment of Perkins Homes include controversial incentives

The Baltimore Sun