Neighborhood Housing Services of Baltimore Receives $6M Allocation to Rehab 27 Homes
As part of the latest Smith NMTC transaction, a $30M closing with Community Housing Capital, Neighborhood Housing Services (NHS) of Baltimorewill use a $6M allocation to rehab approximately 27 single family rowhomes in West Baltimore, where a high vacancy rate has contributed to community distress.
NHS was founded in 1974 as a consortium of residents, community and philanthropic groups, business leaders and local governments dedicated to removing barriers of access to homeownership. The organization supports new homebuyers with financial coaching and down payment assistance, and helps residents stay in their homes with foreclosure prevention counseling and owner-occupied renovation. NHS prioritizes working with small, women, and minority-owned developers to amplify the impact of the community investment.
At least 55 percent of the homes rehabbed with this allocation will be sold to low-income buyers. On average, 74 percent of NHS Baltimore’s clients are African American and 72 percent are women.