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$500,000 for a High-Quality, Affordable-Housing Project

Financial and Social Impact

  • Housing units developed: 8 low to moderate-income units on a vacant property
  • Jobs Created: 16 full-time jobs

A word-of-mouth referral brought Moses G. Parker to Baltimore Community Lending (BCL) in 2012 for financial help in rehabilitating an eight-unit apartment building in the historic neighborhood of Reservoir Hill.

The result: the $500,000 loan he needed.

Moses had sought traditional financing and been turned down. Because the project met affordable-housing guidelines, however― for households with incomes of less than 80 percent of the area median―he qualified with BCL.

Moses, a former Bethlehem Steel worker, was inspired to get into real estate development by a piece of advice from his grandmother, “They won’t be making anymore land, so you’d best invest in it.”

In 1985 he began buying and rehabilitating single-family properties for low-and moderate-income people, and bought the Reservoir Hill property in 2006.

He said he is driven to build with quality and cost in mind: “I like to create housing that I would live in — livable housing that is affordable.”

(Date of loan: 2012. Date of story publication: 2013)