city homes, inc. celebrating 20 years of providing affordable housing to baltimore families
TRANSCRIPT
City Homes, Inc.Celebrating 20 years of providing affordable housing to Baltimore
families
City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore
City Homes Accomplishments City Homes and its affiliates own or
manage 480 units of affordable housing, mostly in inner-city neighborhoods.
Rents average $390 per month. This is well below the rents other landlords charge for comparable units.
The vacancy rate has historically averaged under 1.5%, well below market standards.
City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore
City Homes tenants and rents
City Homes serves very low income tenants: Over 40% of City Homes households have incomes below 30% of area median.
23% of City Homes households have Section 8 subsidies; the remainder pay below market rents.
City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore
City Homes Accomplishments (continued)
CITY HOMES IS A MODEL LANDLORD… Its units are modest, and they are better
maintained and less expensive than comparable units owned by private investors.
City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore
City Homes Accomplishments (continued)
CITY HOMES IS FINANCIALLY SELF-SUFFICIENT….
Its rents and management income cover all operating and administrative expenses and debt service, AND funds healthy reserves.
City Homes relies on reasonable management fees and a highly efficient operation to stay financially healthy.
City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore
City Homes properties: Alley street in 500 block of North Duncan Street. City Homes owns all houses in this block.
City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore
Another view of 500 block of North Duncan Street, where City Homes owns all houses in the block.
City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore
City Homes properties: City Homes owns one of the houses in this row, the 2000 block of East Lafayette Ave.
City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore
City Homes property: 1030 North Collington Street.
City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore
What our tenants say about us
“You have been a blessing! I enjoyed every bit of it.” (Sylvia Gaines, 10+ year tenant of City Homes Project III)
“Maintenance issues are addressed on time, and I appreciate the patience with rent issues.” (Lavonnya Barnes, 5 year tenant of Newington)
City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore
City Homes property: 2237 Prentiss Place
City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore
More quotes from City Homes tenants
“I recommend you to people all the time.” (Cynthia Smith, 5 year tenant of City Homes West)
“Best landlord I've ever had.” (Brandy Shields, 11 month tenant of City Homes West)
City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore
City Homes properties: Bretton Terrace, 4 buildings in 3700 of Greenmount Avenue, funded with Section 8 Moderate Rehab.
City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore
City Homes property: Peabody Heights, former religious school rehabilitated into housing for seniors and disabled people, with
below market rents.
City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore
City Homes properties: Johnston Square, at East Eager and Homewood Streets, new construction with below market rents.
City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore
Neighborhood art at North Patterson Park and Henneman Avenues, in East Baltimore, near many City Homes properties.
City Homes, Inc. – Celebrating 20 Years of Providing Affordable Housing in Baltimore
City Homes office: 330 East 25th Street