Boston Capital Invests in 90-Unit Affordable Multifamily Community in Baltimore, Maryland

BOSTON, MA - Boston Capital is investing in the construction of Manor South, a 90-unit development for seniors located in Baltimore, Maryland.  The development will be built with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program. The developer is Comprehensive Housing Assistance, Inc., a non-profit housing and community development organization based in Baltimore.

"Boston Capital is pleased to partner with Comprehensive Housing Assistance in this investment, given the high demand for quality affordable housing for seniors in the Baltimore market," said Jeff Goldstein, chief operating officer and director of Real Estate at Boston Capital.  "Attractive amenities and a great location close to public transportation and retail services will contribute favorably to the desirability of this apartment community."

The construction of Manor South will generate $8.6 million in local salaries and create more than 130 new jobs in the Baltimore area. Boston Capital's investment in the development adds 90 units of affordable housing to its apartment portfolio.  To date, Boston Capital has invested in nearly 6,000 units of affordable housing in Maryland.

Manor South will feature 90 units in a four-story, elevator building in the Upper Park Heights neighborhood in northwest Baltimore. The development will include 53 one-bedroom and 37 two-bedroom units ranging in size from 653 to 1,006 square feet.  Units will feature an open-floor concept and will include a living/dining area, generous-sized bedrooms and walk-in closets.  Community amenities will include large common areas with a community room and kitchen, computer room and an outdoor patio.  Units will be available to seniors ages 62 or older earning 60 percent or less of the Area Median Income (AMI). 

About Boston Capital:
Boston Capital, headquartered in Boston, MA, is a real estate investment and advisory firm specializing in tax advantaged investments in affordable multifamily housing and equity investment in market rate apartment communities. Boston Capital's holdings include more than 2,260 multifamily apartment properties in 49 states and the District of Columbia, constituting more than 155,520 apartments with a development cost in excess of $15.1 billion. Boston Capital is the largest owner/investor of apartment properties in the United States.