BALTIMORE, Md.–(BUSINESS WIRE)–Harmony Communities, a Washington DC-based inexpensive housing proprietor and developer, has acquired 4 condominium properties with a complete of 340 items in Northeast Baltimore, Maryland. Walther Avenue Residences, Hazelcrest Residences and Northern Village Residences are situated inside one mile of one another in Northeast Baltimore. Harmony will instantly start evaluating the properties and devise choices for neighborhood enhancements.
Harmony Communities, a wholly-owned affiliate of nationwide actual property investor supervisor and developer Lowe, is actively pursuing growth alternatives to create inexpensive housing communities within the Mid-Atlantic area. Harmony can also be looking for alternatives to accumulate current properties that may profit from rehabilitation and improved administration.
“Harmony is devoted to creating high quality properties in welcoming communities that deal with the housing scarcity confronted by space residents,” stated Mark Rivers, Government Vice President of Lowe and Harmony Communities. “Contributing positively to our communities is certainly one of our firm’s foundational values. Drawing upon our experience, partnerships and alliances we consider we are able to transcend housing to supply enhanced residing experiences and supply fascinating communities for space residents at an inexpensive value.”
Harmony’s acquisition consists of:
- Walther Avenue Residences, situated at 6603 Walther Avenue. In-built 1967, this 64-unit condominium neighborhood gives residences starting from studio, to two-bedroom ground plans throughout six three-story buildings. Walther Avenue is at the moment 95 % occupied.
- Hazelcrest Residences, situated at 5717 Plainfield Avenue, was inbuilt 1965. The 48-unit condominium neighborhood options two-bedroom condominium items throughout eight, two-story buildings. Hazelcrest is at the moment 95 % occupied.
- Northern Village Residences East and West, situated at 6623 Pioneer Drive, was inbuilt 1972 and consists of 228 items in complete. The communities will supply a mixture of one-, two-, and three-bedroom ground plans throughout twenty-three, two-story buildings. The Northern Village property is at the moment 97 % occupied.
Ralph Crozier led the acquisition on behalf of Harmony Communities and Christine Espenshade of Newmark Knight Frank represented the vendor.
About Harmony Communities
Harmony Communities. a wholly-owned subsidiary of nationwide investor, developer and supervisor Lowe, was based in 2020 on the idea that accountable, insightful, empathetic neighborhood growth and redevelopment is the optimum methodology to make cities higher locations to stay and work.
Harmony is devoted to growing the manufacturing of high quality inexpensive housing. In depth new monetary commitments from banks, cities, states and social funding teams improve Harmony’s skill to leverage assets to comprehend a collective imaginative and prescient. Harmony applies its experience, partnerships and alliances to supply enhanced residing experiences and transcend housing for its residents, its communities and its companions.
Harmony applies its actual property experience, and collective efforts to expedite filling our nation’s want – and demand – for inexpensive housing communities that can join folks and place and enhance the lived expertise for these they serve. For extra data go to www.concordcommunities.com
Lowe, previously often called Lowe Enterprises, is a number one nationwide actual property funding, growth and administration agency. Over the previous 49 years, it has developed, acquired or managed greater than $32 billion of actual property property nationwide because it pursued its mission to construct worth in actual property by creating revolutionary, lasting environments and significant experiences that join folks and place. Lowe at the moment has greater than $2 billion in industrial actual property tasks within the pipeline or below growth. Lowe has been energetic within the Mid-Atlantic since 1980. Along with its Los Angeles headquarters, Lowe maintains regional places of work in Southern California, Northern California, Charleston, Denver, Seattle, and Washington, DC. For extra data go to www.Lowe-RE.com .