Village Center (2019)

Baltimore, MD

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NMTC Amount: $15,000,000

Total Project Cost: $19,800,000

COMMUNITY IMPACT

SunTrust Community Capital (STCC) and Harbor Bankshares Corp. provided a total of $19.8 million in financing for Village Center at Stadium Place in Baltimore. STCC provided $4.8 million of equity and $4 million in its New Markets Tax Credit (NMTC) allocation. Harbor Bankshares contributed $11 million of its NMTC allocation. Govans Ecumenical Development Corp. (GEDCO) and Commercial Development and Investments LLC (CDI) are co-developing the property, which melds with the existing Stadium Place Adult Community Campus master plan. Village Center includes 70 discounted market-rate senior housing units and 30,000 square feet of medical office and retail space. Conveniently located at the corner of 33rd Street and Ednor Road, the Village Center retail and office space severs as a hub for the residents and surrounding community. Stadium Place features a community playground and full-service YMCA of Central Maryland, offering preschool for ages 2-5. Neighbors include Baltimore City College and the JHU Incubator Hub, located in the former Eastern High School directly across the street. This prime location also enjoys easy access to I-83, I-95 and I-895.

Project Map

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