The Port Covington Development Team Contributes to Habitat for Humanity of the Chesapeake’s Mount Winans Project

| November 10, 2020 | 0 Comments

Habitat for Humanity of the Chesapeake completed a nine-townhome project earlier this year on the 2600 block of Huron St. in Mount Winans. Each of the townhomes were sold to and are now occupied by new homeowners who qualified with 30 percent to 80 percent of Area Median Income.

Habitat for Humanity of the Chesapeake CEO Mike Posko told that typically his organization is taking a loss. This is a result of the organization selling the homes for less than the cost of building them and buying down the interest on the homes so the owner can have a zero interest mortgage. Habitat needed to cover a cost of about $50,000 for each of the homes in Mount Winans.

The Port Covington Development Team chipped in with a $150,000 donation to cover the difference on three of the homes. Weller Development is one of the partners of the Port Covington Development team and Partner Steve Siegel said: “The Port Covington Development Team is committed to delivering on its promise to build affordable housing in Port Covington. The team identified an additional opportunity to partner with Habitat for Humanity to support the creation of for-sale, affordable homes in the SB7 community.  We are excited to support the development and to give people an opportunity to build wealth through homeownership.”

“We are extremely grateful for their partnership,” said Posko, who added Habitat for Humanity of the Chesapeake and The Port Covington Development Team will work together on more homes in SB7 neighborhoods, which consists of Port Covington and the six South Baltimore neighborhoods south of Port Covington, in the future.

The nine homes in Mount Winans each have three bedrooms, one-and-a-half bathrooms, and rear parking pads.

Posko said the Mount Winans project took about three years to complete and the land was in Habitat for Humanity of the Chesapeake’s inventory for 10 years.

Stanley Black & Decker was also a supporter of this project, bring volunteers to help for two weeks.

Also in South Baltimore, Habitat for Humanity of the Chesapeake will break ground on a five-townhome project on the 1100 block of Ward St. in Pigtown next spring. The organization is also planning a nine-townhome project in Curtis Bay.

Posko said Habitat for Humanity of the Chesapeake’s projects are “well-needed assets to the community” and “add value to the neighborhoods.”

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