Published with permission of Novogradac & Company, LLP.
Novogradac awarded Woda’s Mary Harvin Center 2016 Development of Distinction for overcoming significant obstacle
The Mary Harvin Center in Baltimore was named as the Novogradac Journal of Tax Credits Developments of Distinction Award winner for 2016 LIHTC Property that Best Reflects Market Success in Overcoming Significant Obstacles Award. The Mary Harvin Center, which was funded by more than $12.2 million in low-income housing tax credits (LIHTCs), is a 61-unit, four-story building serving the local senior community. An example of mixed use, the development offers senior services to the tenants and the broader community, including counseling and a job training center.
A serious obstacle in the making this site a reality occurred on the evening of April 27, 2015, when the building was 45 percent complete. During the riots after the death of Freddie Gray a fire destroyed most of the building. Within hours, the development’s financial partners, local
community organizations, The Woda Group and Mayor Stephanie Rawlings-Blake came together to rally and commit to see the development through despite the huge obstacle and trauma. A mere five months after the fire, the project was back at 40 percent completion and is on schedule to open in spring 2016.
“This could be the most famous LIHTC project ever built. The fact that the parties were able to overcome this enormous setback and persevere with completion of the project made this the clear winner.” The quote is from Thomas Morton of Pillsbury Winthrop Shaw Pittman, and was included in Novogradac’s write-up for the award. More here.