BALTIMORE, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Comprehensive Housing Assistance, Inc. (CHAI), together with the Federal Home Loan Bank of Atlanta and Truist, along with State, City and foundation funding, are pleased to showcase the completion of Woodland Gardens I, a new four-story building providing attractive, affordable housing in Baltimore, Maryland.
The project, developed by CHAI, provides 63 total housing units for families, including one-, two-, and three-bedroom apartments. Designed to provide housing opportunity to residents with a range of income levels, 14 units are designated for households with incomes between 50 and 60% of area median income (AMI), 36 units are targeted to households with incomes of 50% of AMI or below, and 13 units are available to families with incomes of 30 percent or less of AMI. Additionally, these 13 units are reserved for individuals with disabilities.
For partial funding of the $24 million project, CHAI partnered with Truist to apply for a $500,000 Affordable Housing Program grant from the Federal Home Loan Bank of Atlanta. The grant was awarded in 2021.
“We are proud to bring this project to fruition and offer much-needed new quality housing in Baltimore,” said Ellen Jarrett, CHAI’s vice president of Housing Planning and Development. “The modern apartments are located close to public transportation and are complemented by a community courtyard, game room, arts and crafts studio, business center, a children’s playroom and playground, laundry facility, fitness center and walking trails.”
“Investments in new affordable housing not only have a positive impact on residents, they can meaningfully support neighborhoods and local economies,” said Steve Smith, senior vice president and relationship manager at Truist. “Woodland Gardens is the result of like-minded organizations working together to inspire and build a community that will help residents thrive.”
Scott Brennan, director of Sales for the Federal Home Loan Bank of Atlanta, said, “This beautiful community is a reflection of teamwork, and we are proud to have a part in making the development possible. We hope to work with CHAI, Truist and other organizations going forward to bring even more affordable housing options to the people of Baltimore.”
A grand opening for Woodland Gardens will be held on Sept. 12 at 11 a.m. on site at 4755 Park Heights Avenue, Baltimore, MD 21215.
For more information, or if prospective residents are interested in an appointment, please visit the Woodland Gardens website.
About Comprehensive Housing Assistance, Inc.
CHAI is a nonprofit agency dedicated to strengthening neighborhoods in Northwest Baltimore through a comprehensive approach to community development. Since 1983, CHAI has enhanced quality of life for individuals and families through a wide range of programs and services, including affordable housing, homeowner support programs, older adult services, and collaborative neighborhood building projects. With a commitment to collaboration, innovation and sustainability, CHAI Baltimore continues to make a lasting impact on the community it serves, helping residents of all ages thrive.
CHAI is an agency of The Associated Jewish Federation of Baltimore. To learn more about CHAI, visit www.chaibaltimore.org.
About the Federal Home Loan Bank of Atlanta
FHLBank Atlanta is a member-owned cooperative that offers competitively-priced financing, community development grants, and other banking services to assist its member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank's members are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $9.1 billion in Affordable Housing Program funds, assisting more than 1.2 million households.
For more information, visit our website at www.fhlbatl.com.
Media Contacts:
Comprehensive Housing Assistance, Inc.
Audrey Weiss
aweiss@chaibaltimore.org
Federal Home Loan Bank of Atlanta
Sheryl Touchton
stouchton@fhlbatl.com
Truist
Brian Boudreaux
media@truist.com
