Maryland and Baltimore Officials Celebrate th...

WinnDevelopment Joins Community Team to Build Residences at Belvedere Place

BALTIMORE (May 18, 2026) - Federal, state and city officials from Maryland today joined Baltimore community leaders and executives from WinnCompanies to break ground on a $28 million construction effort that will bring 83 affordable apartment homes and small business space to the Park Heights neighborhood in Northwest Baltimore. The project is being led by BRIDGES Community Development Corporation, WinnDevelopment, and Bon Secours Unity Properties.

The celebration of the long-awaited development, first envisioned and initiated eight years ago by BRIDGES CDC, brought together the project's public and private partners, including Maryland Congressman Kweisi Mfume and officials from the Maryland Department of Housing & Community Development (MD-DHCD), the City of Baltimore, Bank of America, and NewPoint Capital.

"Helping community leaders realize their long-held dream of creating affordable housing for the Pimlico neighborhood was fitting inspiration for our company's first development project in the State of Maryland," said WinnCompanies CEO Gilbert Winn. "We are excited to collaborate with state and city officials and private financial partners to make this project a reality and, hopefully, spur on other opportunities to advance Maryland's community development goals together."

To be known as Residences at Belvedere Place, the new community will offer 21 one-bedroom, 53 two-bedroom and nine three-bedroom apartments. Nine units will be available to households earning at or below 50 percent of Area Median Income (AMI) and 63 to households at or below 60 percent of AMI. In addition, 11 units of supportive housing will be created for families at risk of homelessness earning at or below 30 percent of AMI. Completion is scheduled for the spring of 2027.

This project received $500,000 in Fiscal Year 2024 Congressionally Directed Spending, secured by U.S. Senator Chris Van Hollen, Congressman Mfume, and former U.S. Senator Ben Cardin.

"For Marylanders struggling to make ends meet, affordable housing can often feel out of reach. That's why we fought to secure federal funding to support the future Residences at Belvedere Place. In addition to supporting local small businesses, this project will make affordable housing options a reality for dozens of Baltimore residents and families," said Senator Van Hollen.

"Affordable housing is one of the most pressing issues of our time, and I am incredibly proud to have supported federal funding for this project to bring 83 affordable homes to the Park Heights Community," said Congressman Mfume. "Being able to bring federal investments home to communities that need them is one of the most gratifying elements of being in the U.S. Congress, and I will not stop fighting to secure funding for worthwhile initiatives like this one."

MD-DHCD delivered Low Income Housing Tax Credits (LIHTC), tax-exempt bond financing and a subordinate loan for the project. "Every day, great things are happening across the State of Maryland to expand housing affordability for all Marylanders. In Baltimore, we're working with partners to revitalize disinvested neighborhoods, eliminate vacancy through whole-block strategies, and support the creation of more affordable homes for new and existing residents.

The Residences at Belvedere Place checks all of these boxes," said Maryland Department of Housing and Community Development Secretary Jake Day. "The Moore-Miller Administration is proud to support this much-needed, long-awaited project for the ENOUGH community of Park Heights through strong partnership with BRIDGES Community Development Corporation, WinnDevelopment, Bon Secours Unity Properties and the City of Baltimore," Secretary Day added.

Over the past several years the development team assembled 10 vacant and underutilized parcels near the famous Pimlico Race Course to create the 2.2-acre development site.

The City of Baltimore Department of Housing and Community Development provided land and a grant for the project, as well as loans from the city's Affordable Housing Trust Fund and from the HOME Investment Partnerships Program through the American Rescue Plan.

"Meaningful community development begins with believing in something you can't see. It begins, quite frankly, with faith. Faith before there are any development partners. Faith before there is any financing in place. Faith before there is any blueprint to do the work. This work takes time and it takes patience. I want to say thank you to the community of Park Heights for having patience" said Wendi Redfern, deputy commissioner for Development at the Baltimore City Department of Housing and Community Development (DHCD).

"The groundbreaking and development of Belvedere Place represents a vital step toward building a more vibrant and thriving community. By investing in the community, you're not just improving infrastructure, you are creating new opportunities for families, businesses, and local residents to grow and prosper," said Baltimore City Council Vice President Sharon Green Middleton.

State lawmakers serving Baltimore in the Maryland General Assembly unanimously praised the project.

 ● "Bringing this project to fruition reflects years of commitment to the Park Heights community and a shared vision for its future. I'm proud to have secured state-level support to help make this investment possible," said State Senator Dalya Attar. "After nearly eight years representing this district, it is especially meaningful to see this kind of progress take shape. I want to thank Pastor Michael Gaines for his steadfast leadership and dedication. This milestone would not have been possible without his enduring commitment to the community."

● "Community projects like this at Belvedere Place mark a major step forward. This is one of the projects in Park Heights that represents renewed commitment to our residents and over all community," said State Delegate Sean Stinnett. "This groundbreaking is a result of immense dedication from the City and State and most importantly, the valuable input and work from our community members."

● "I'm proud to stand with BRIDGES Community Development Corporation as we break ground on the Residences at Belvedere Place, because this is what real progress looks like in Park Heights. This didn't happen by chance. It came from leaders locking arms and refusing to accept anything less than investment that directly reaches our blocks and our families," said State Delegate Malcom P. Ruff. "This moment proves we're turning that vision into action. We're rebuilding a Park Heights where our young people can see excellence all around them and know they belong in it, and we're not slowing down until this community gets everything it's earned."

● "The groundbreaking for the homes and businesses of Belvedere Place is another very positive step forward for the communities surrounding the rebuilding of Pimlico Race Track," said State Delegate Samuel Rosenberg.

BRIDGES CDC is loaning $6 million to the project from various grants it has secured over the years to support its community development plan. The non-profit CDC was founded by the Manna Bible Baptist Church., which has served the Park Heights neighborhood for nearly 60 years.

"BRIDGES CDC is one of a number of community partners working in Park Heights to turn the tide of disinvestment in this community. The Residences at Belvedere Place is a cornerstone of the BRIDGES Master Plan to revitalize a portion of the Park Heights community that will serve as beacon of hope, renewal and beauty," said Michael Gaines, Sr., President of BRIDGES CDC.

The four-story 112,102-square-foot building will meet Energy Star standards for sustainability. It will include 8,442 square feet of ground-floor retail space, with dedicated parking for residents, along with a clubroom, a fitness room and open space featuring native plantings and works by local artists.

Resident households will receive case management and supportive services from Connected Communities, a non-profit affiliate of WinnCompanies and one of the nation's leading providers of community-based programs for affordable housing residents.

"For decades, Bon Secours has been rooted in West Baltimore, walking alongside residents and working to ensure that everyone has access to safe, stable, affordable housing. Belvedere Place is a testament to what is possible when community, government, and private partners share a common purpose," said Ruben Chandrasekar, Executive Director of Bon Secours Unity Properties, the housing and community development subsidiary of Bon Secours Community Works.

The Bank of America is the project's construction lender and LIHTC equity investor. "Financing projects like The Residences at Belvedere Place aligns with our purpose of helping to build strong communities through the intersection of affordable housing and economic development," said Janet Currie, president, Bank of America Greater Maryland. "This project in Park Heights is an example of how private-public partnerships support our neighborhoods, making a meaningful difference in the communities where we live and work."

NewPoint Capital provided the forward commitment for a Fannie Mae tax-exempt permanent loan. "We are proud to collaborate with WinnDevelopment, BRIDGES CDC, public agencies, and our financial partners to provide permanent financing for Belvedere Place," said Bryan Dickson, Senior Managing Director at NewPoint. "The successful closing of this complex transaction underscores what is possible when mission-aligned stakeholders come together to deliver lasting impact in Baltimore's Park Heights community."

A joint venture of Southway Builders, a Baltimore-based contractor, and C.L. McCoy Framing, a Baltimore-based minority-owned company, is the project's general contractor. Grimm+Parker, of Calverton, MD, is serving as architect. WinnDevelopment Vice President Laura Manville, Senior Project Director David Brotman and Assistant Project Director Ketti Gorski are overseeing the project, in partnership with Michael Gaines of BRIDGES CDC and Alicia Corson and Mauricia Holman of Bon Secours Unity Properties.

ABOUT WINNDEVELOPMENT

As development arm of WinnCompanies, WinnDevelopment creates and revitalizes high-impact mixed-income apartment properties through award-winning new construction, renovation and adaptive reuse techniques. The company prioritizes true mixed-income communities for households of all incomes. WinnDevelopment's track record of success has earned it a reputation as a trusted, stable community development partner among local planners, public sector agencies and private sector financiers. The company offers integrated asset management services, pioneering environmentally sustainable design and leading property operations expertise. Learn more at WinnDevelopment.

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