Community Redevelopment (CRDV) is thrilled to announce that their subsidiary, Mosaic Homes - a build and renovate for-sale company, recently acquired its first property in Baltimore, Maryland - the first of several strategic acquisitions in the region. [View Press Release]
According to a report commissioned by the Maryland Department of Housing and Community Development published on NPR in Feb 2021, "The analysis from the University of Maryland's National Center for Smart Growth and Enterprise Community Partners, a nonprofit housing lender and advocacy organization, says Maryland must add thousands more housing units by 2030 to accommodate a swelling population of low-income residents, while also meeting unmet demand from moderate-income residents, seniors and people with disabilities."
Furthermore, "The state's supply of for-sale homes is still hampered by high construction costs and limitations on building apartments, townhomes and other denser housing types. Gaps in the housing market have also contributed to racial disparities in homeownership, the analysis says; the Black homeownership rate in Maryland is 26 percentage points lower than that of whites." [Read NPR's full article here.]
We (CRDV) have a strategic plan to enhance smart growth in the Baltimore/Washington DC regions by investing in naturally occurring affordable housing that will provide healthy, safe, and sustainable homes for lower income populations.
Additionally, we (CRDV) strive to create opportunities for minority developers to gain access to capital by creating investment opportunities for those who traditionally lack access due to being unbanked or underbanked - cultivating long-term, sustainable communities.
As a mission-driven company we (CRDV) are committed to providing accessibility to affordable housing which is why Mosaic Homes will work with local non-profit housing organizations to identify prospective residents who have received homebuying counseling. One of the many ways we intend to make a difference.
Learn more about our vision and investment opportunities by visiting our Website and Subscribing!
“Twenty percent of the housing stock of Baltimore is vacant and Mosaic Homes is helping to revitalize neighborhoods by purchasing these vacant homes and renovating them - providing individuals and families the opportunity to purchase homes in their local neighborhoods. Closing the first Baltimore acquisition is a significant milestone and I congratulate our team on this achievement.”
~ Richard Balles,
Head of Development for CRDV
Learn more about Mosaic Homes Here