Dedication of Portside Apartments and Community Center

County Executive, James T. Smith, Jr., was the keynote speaker at the dedication of the Portside Community Center held on August 7, 2007. The newly-constructed community center and leasing office, located at the Portside Apartments, is a partnership between Osprey Property Company and the Dundalk Renaissance Corporation. The substantial rehabilitation of the 150 units and new construction of the community center were financed with a combination of over $14.2 million in federal, state, county and private funding. “This project is an excellent example of what can be achieved when collaborative partnerships are formed,” said County Executive Jim Smith. “This tremendous public and private investment is matched by the energy of the citizens of Dundalk who are determined to see their neighborhood thrive.”

Frank B. Coakely, newly-appointed Assistant Secretary of the Department of Housing and Community Development and Director of the Community Development Administration, applauded the Osprey/DRC partnership and CDA staff for their efforts in bringing the Community Center to the residents.

The apartments have been substantially renovated with new kitchen appliances including dishwasher and
disposal and new cabinetry and flooring; individual heating and air conditioning, wall-to-wall carpeting,
and secured entrances with fob access to renovated hallways. A new central laundry and postal boxes have
been installed on-site. The buildings have been professionally landscaped.

John Olszewski (“Johnny O”), Councilman 7th District, thanked Brian Lopez, Vice President of Osprey Property Company, for his leadership in moving this important project forward. “As we are going through the important renaissance of the Dundalk area, it is imperative that we have the private sector contribute and this is a prime example of working with state and local government to attain this goal. As a result of Osprey’s efforts, the quality of life of the residents has improved drastically,” the Councilman said.

The 3,520 square foot community center includes leasing & management offices, a meeting room, community lounge with kitchen, computer lab, fitness center and tot lot. It will also be utilized for the Resident Services Program which will include informational, educational and social programs.

Amy Menzer, Executive Director of the Dundalk Renaissance Corporation, thanked the state and local governments, and especially Mary Harvey, Director of the Baltimore County Office of Community Conservation, for her efforts in financing the construction of the community center and renovation of the apartments. Ms. Menzer also recognized long-time resident Rose Lunsford, who has lived at Portside for nearly 35 years.

There are 142 one-bedroom and two-bedroom apartments and 8 townhouses. Nine units are designated as
handicap accessible. Most units are affordable serving residents earning 40% to 60% of the area median
income which serves families with average incomes of $21,240 to $45,480. Affordable rents range from
$490 to $785 and market rate townhouses rent for $850.

The Cummins Apartments were built in the early 1950s as military housing for the army officers stationed at Fort Holabird. In the 1940s, the jeep and other military vehicles were developed and tested. When the army vacated the Fort in 1972, the apartments were sold to private investors as multifamily housing. Most of the Fort’s other buildings were torn down and later replaced with the Holabird Business Park.

Other development team members include: Grimm + Parker, architects; DMW, civil engineers, Linden
Contracting; general contractor, CharterMac, tax credit equity; BB&T, construction loan; Enterprise
Community Investment, private loan; and Habitat America, property manager.

Project financing includes: Federal housing tax credits – $8.66 million; Rental Housing Funds from DHCD’s Community Development Administration – $1.5 million; HOME loan from Baltimore County – $769,884; CDBG funds from Baltimore County – $400,000; and private loans – $2.67 million