Baltimore, MD April 5, 2017 – A very special ribbon cutting ceremony brought together a coalition of affordable housing champions, including: City of Baltimore Mayor, Catharine E. Pugh; Councilman John T. Bullock; Senator Barbara A. Robinson; Baltimore Housing Acting Commissioner, Michael Braverman; Director of the Office of Recapitalization, U.S. Department of Housing and Urban Development, Thomas R. Davis; Head of Affordable Housing and Senior Managing Director of RED Capital Group (RED), Tracy W. Peters; and Senior Vice President, Real Estate Development, Community Preservation and Development Corporation (CPDC), Christopher LoPiano, – to cut the ribbon and open the doors of the newly renovated Hollins House. This affordable housing community for seniors and non-elderly disabled residents in Southwest Baltimore is one of the first Rental Assistance Demonstration (RAD) projects in Baltimore City.
Hollins House received over $10 million in redevelopment funds to renovate and upgrade the 130-units. CPDC, owner and developer of Hollins House, has partnered with the University of Maryland-Baltimore, Johns Hopkins University and the Virginia Health Quality Center to provide access to wellness and critical care to its residents.
Tracy Peters, Head of Affordable Housing for RED, stated, “RAD, in combination with the FHA-insured loan and low income housing tax credits, is the best program to maximize capital to renovate and repair affordable housing communities like Hollins House.”