In Spite of Challenging Development Environment,
Baltimore County Remains a Strong and Viable Market
Development of Renaissance Square Has Begun in Baltimore County
Baltimore, Md. – (February 10, 2009) – Baltimore County, in partnership with Enterprise Homes and Mark Building Company, announced today that construction has started on Renaissance Square, a new community located at the former Kingsley Park Apartments. Enterprise Homes recently secured financing for the newly planned community that will include 196 units of home ownership and senior housing in a community setting.
"We engaged in a very careful and thoughtful community planning process to develop a vision for this residential community that would meet the needs of the neighborhood," said Baltimore County Executive James Smith. "We are excited to be able to begin the development process on a most vital and important piece of land for the County."
The Renaissance Square community will include 115 homes for sale including a combination of townhouses, detached cottages, manors and villas. Design elements incorporate many green features. These new homes will be priced from $225,000 to $375,000. Closing and down payment assistance will be available on a limited number of for-sale homes. The homes will be built by Mark Building Company.
The new community will also include Evergreen, the senior component at Renaissance Square, featuring 81 one- and two-bedroom units. Community amenities such as a game room, community space with adjacent kitchen facilities, computer room, craft room, exercise studio, storage lockers, and a hospitality suite available to overnight guests will be included in the development. The senior development will be built by Bozzuto Construction.
Enterprise Homes, in joint venture with the Mark Building Company, which will also serve as the development's builder, was selected by Baltimore County last fall as the master developer of Renaissance Square, the 17-acre site at Back River Neck Road and Old Eastern Avenue in the Middle River area of the County.
"Enterprise is thrilled to begin the construction of Renaissance Square, a community for people from all walks of life. We hope to bring to life, the community's vision," said Chickie Grayson, President and CEO of Enterprise Homes, Inc.
Enterprise Homes, Inc. has completed more than 4,200 affordable and market-rate homes and rental residences in communities throughout the mid-Atlantic region. Enterprise collaborates with nonprofit and for-profit housing organizations, community groups, as well as city and county agencies to produce high quality housing, creating vibrant mixed-income communities.
The Mark Building Company is a fourth generation home builder and developer with a reputation for creating outstanding communities. Based in Baltimore County, The Mark Building Company has completed over 2,000 homes.
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