Enterprise Homes and Pax-Edwards Celebrate Grand Opening of Red Run Overlook

12/3/19

Workforce rental community in rapidly growing section of Owings Mills features 72 mixed-income apartments with good connections to jobs, transportation and retail


(Photo credit: Alan Gilbert Photography) Photo Caption: L to R: Brian P. McLaughlin, President and CEO of Enterprise Homes, Inc.; Shelly L. Hettleman, State Delegate, District 11; Julian E. Jones, Jr., Baltimore County Councilman, District 4; Chickie Grayson, Enterprise Homes, Inc.; Kenneth C. Holt, Secretary, Maryland Department of Housing and Community Development; Jeff Paxson, President, Pax-Edwards, LLC; Christine Madigan, Executive Vice President and Chief Business Officer, Enterprise Homes, Inc.; Miles Cary III, Greater Maryland Market Senior Vice President, Bank of America; Jon S. Cardin, State Delegate, District 11)

Enterprise Homes, Inc. and Pax-Edwards, LLC were joined by Maryland State Delegates Shelly Hettleman and Jon S. Cardin, Baltimore County Councilman Julian E. Jones, Jr., and Maryland Housing Secretary Kenneth C. Holt today, December 3, 2019, for the grand opening of Red Run Overlook, a new workforce apartment community located in the heart of Owings Mills.

“Today, we welcome to Red Run Overlook 72 individuals and families who will add to the vitality of the Owings Mills community,” said Christine Madigan, executive vice president and chief business officer for Enterprise Homes. “The need for workforce housing in Baltimore County – open to people from all walks of life -- is great, and we applaud our many partners in the public and private sector who help make mixed-income communities like Red Run Overlook a reality.”

The 72 mixed-income apartments overlooking Red Run Boulevard provide well-designed homes in a “Community of Opportunity,” offering residents access to major employment centers, high-performing schools, healthcare facilities, retail, and entertainment venues as well as major arterial highways that provide convenient options for travel throughout the county and region.

“Congratulations to Enterprise Homes, Inc. and Pax-Edwards, LLC for building much-needed affordable housing in Owings Mills,” said Councilman Jones. “I am certain this will make a difference in the lives of those 72 families and enhance our economy.”

Red Run Overlook is a four-story, elevator-served building with a mix of one-, two- and three- bedroom apartments and a variety of common spaces, including a community lounge, homework/business center, game room, library, fitness center, and laundry/storage room. The well-landscaped site provides outdoor recreational areas for residents, including a dog park, and parking.

"Under Governor Larry Hogan's leadership, the Maryland Department of Housing and Community Development's rental housing investment has reached unprecedented levels," said Secretary Holt. "This includes more than $3 million in loans and tax credits for Red Run Overlook which creates 72 units of safe, decent, affordable housing for families in Owings Mills."

“This community would not have been built without the unwavering support and commitment of Councilman Jones and the Maryland Department of Housing and Community Development,” said Jeffrey D. Paxson, president of Pax-Edwards, LLC. “We are grateful for their steady and long-term commitment to this development and affordable housing for families in Owings Mills!”

Funding for the $22 million community came from a range of sources: the Maryland Department of Housing and Community Development, Baltimore County, Bank of America, N.A., Enterprise Community Investment and Bellwether Enterprise.

“Bank of America Community Development Banking was pleased to provide a $12.1 million construction loan, $9.95 million permanent loan and $12.3 million in LIHTC investment to help build this new construction, mixed-income housing development in Owings Mill, leading the way for much-needed affordable housing in Baltimore County,” said Miles Cary, senior vice president of Community Development Banking at Bank of America. “Red Run Overlook demonstrates our continued commitment to creating safe, affordable housing and supporting the communities in which we work and live.”

The architect and interior design firm is Moseley Architects, and the general contractor is The Whiting-Turner Contracting Company. R Home Property Management is the property manager.

Enterprise Community Partners is a proven and powerful nonprofit that improves communities and people’s lives by making well-designed homes affordable. We bring together the nationwide know-how, partners, policy leadership and investments to multiply the impact of local affordable housing development. Over 35 years, Enterprise has created nearly 529,000 homes, invested $36 billion and touched millions of lives. Join us at http://www.EnterpriseCommunity.org.

Over more than three decades, Enterprise Homes, Inc. has earned an unparalleled reputation for creating thoughtfully planned communities that deliver exceptional value and quality of life. Enterprise has developed and/or owns communities that include close to 11,800 homes throughout the mid-Atlantic Region. http://www.EnterpriseHomes.com.

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