Mayor Young and DHCD Announce Developer for Tivoly Triangle in Coldstream Homestead Montebello
Friday May 24th, 2019
Better Schools. Safer Streets. Stronger Neighborhoods.
FOR IMMEDIATE RELEASE
BALTIMORE, MD. — Today, the Baltimore City Department of Housing & Community Development (DHCD) announced that Urban Green – LNW&A Development Team has been granted the development rights for Phase 1 of the Tivoly Triangle Redevelopment Area in Coldstream Homestead Montebello (CHM). The Team has plans to develop the City’s first net-zero homeownership community; a Tivoly eco-village. Net-zero energy homes generate 100 percent of the energy they consume by using renewal energy sources such as solar.
“I am extremely excited to join community members and our Commissioner for the Department of Housing & Community Development to announce our developer for the Tivoly Triangle in the Coldstream Homestead Montebello neighborhood,” said Mayor Bernard C. “Jack” Young. “Revitalizing this community has been a long-time priority for the city and is an essential
component as we continue to redevelop Northeast Baltimore. The Tivoly Triangle development by the Urban Green - LNW&A Development Team will serve as an anchor for future developments in the area. I am enthusiastic about this new partnership with the state, the community and our developers to revive this community.”
Leon N. Weiner and Associates, a developer with more than 70 years of experience in both rental and for-sale housing, will serve as lead developer and will be responsible for financing the project. Urban Green, LLC will serve as co-developer and minority equity partner. Headquartered in Columbia, Urban Green has nearly 20 years of experience in affordable housing and sustainable development.
“We’ve been working for years with our community partners towards the goal of revitalizing this area, and we’ve invested heavily to clear and prepare this site,” said Baltimore City DHCD Commissioner Michael Braverman. “It’s very exciting to see new homeownership opportunities on the horizon where there once was so much blight. ”
The revival efforts for Tivoly Triangle build upon ongoing state and city investment to eliminate blight and replace it with a new homeownership community in Coldstream Homestead Montebello. CHM includes Clifton Park, Lake Montebello, City College, and two 21st Century schools. These communities also sit within the City’s targeted East Impact Investment Area –
areas the City has identified as located strategically near anchor institutions, major redevelopments, and/or strong markets which are poised for near-term transformative growth.
This project includes 79 units, featuring 59 duplexes and 20 single-family homes. Targeted sales prices for duplex units will range from $250,000-$260,000, and single-family units are estimated to range from $280,000-$290,000. The homes will be locally manufactured by Blueprint Robotics – a Baltimore housing manufacturer that uses computer-based design and robotic technology to manufacture the framework and housing system. Additionally, the proposed development includes solar and heating systems that will generate electricity and hot water for the homes and can operate as a resiliency hub for first responders in the event of a regional grid blackout.
The City and State have supported this effort, with state funding most recently through Governor Larry Hogan’s Project C.O.R.E. initiative. Project C.O.R.E., or Creating Opportunities for Renewal and Enterprise, is a multi-year partnership between the State of Maryland and the City of Baltimore to demolish, deconstruct, or stabilize vacant and derelict buildings in Baltimore and replace them with green space, residential or commercial use projects, parks and other redevelopment that serves the needs of the community. The Maryland Department of Housing and Community Development provided $500,000 for predevelopment costs as part of an overall investment of $9.6 million for the project. The City and State have invested more than $10
million over the years to help bring this plan to fruition.