64 New Construction Homes, 48 market-rate and 16 affordable units, Expected By 2024
Today, East Baltimore Development, Incorporated (EBDI), alongside Castle Street Development, LLC, elected officials, community leaders, and other stakeholders, broke ground on the third, final, and most extensive phase of the Towns at Eager Park. This phase will bring a total of 64 new, for-sale homes to the 88-acre EBDI project area, featuring 48 market-rate units and 16 affordable units.
The Towns at Eager Park is located northwest of the Henderson Hopkins School and bounded by Chase Street (North), Washington Street (West), Chester Street (East), and Eager Street (South).
“This project brings residential density to our neighborhood, which in turn creates more opportunities for relocated residents to return, makes our neighborhood more suited to attract amenities like a grocery store, and proves that there is a thriving housing market in East Baltimore,” said Cheryl Y. Washington, Esq., EBDI President and CEO.
Phase III of the Towns at Eager Park is expected to complete construction in 2024, offering homes in the $300,000 range. Dedicated to welcoming members of different socioeconomic brackets to the Eager Park footprint, a generous menu of capital stack options will be offered for homebuyers to consider.
Castle Street Development, LLC—a joint venture between GEI-Rutland, LLC and ND CH Development, LLC, a local- and minority-owned business—is developing this project. The home builder is NVR/Ryan Homes.
In addition to the Towns, EBDI is currently managing three other active projects that will continue or begin during this fiscal year, including:
- Henderson Crossing – resulting in 53 new and historic for-sale units;
- Preston Place – resulting in 25 new for-sale units; and
- Eager Square – resulting in 252 market-rate rentals.
In 2016, Phase I of the Towns at Eager Park completed construction, yielding 49 new townhomes, and Phase II erected 34 total for-sale units in 2020. To date, EBDI has completed 477 housing units with nearly 950 additional units either actively under construction or in the pre-construction phase, offering a combination of rental and for-sale units, of which 59 percent are affordable.
About East Baltimore Development, Incorporated
East Baltimore Development, Inc. (EBDI) is a 501 [c] [3] established by community, government, institutional and philanthropic partners to revitalize, re-energize and rebuild the East Baltimore neighborhood, as well as catalyze economic development in surrounding communities. Once completed, the 88-acre area will include 2,100 units of mixed-income homeownership and rental housing units, 1.7 million square feet of life sciences research and office space, a new 7-acre community learning campus with an early childhood center, a public K- 8 elementary school, fresh food stores, and other neighborhood-serving retail amenities, green spaces, and a new community linear park. For more information, visit http://ebdi.org/.
