191-Unit ‘Sharp-Leadenhall Apartments’ Complex Changes Hands

| January 27, 2022 | 0 Comments

The Sharp-Leadenhall Apartments complex at 911 Leadenhall St. was sold at the end of 2021 by Evergreen Partners to Hudson Valley Property Group (HVPG) for $18 million. The 191-unit complex has a HUD Section 8 contract and low-income housing tax credit income restrictions.

Sharp-Leadenhall Apartments has a six-story tower at W. Hamburg St. and Leadenhall St. and many three-level, two-unit apartment buildings on the 1oo block of W. Henrietta St., the 900 block of Peach St., the 100 block of W. Hamburg St., and the 1000 block of Leadenhall St.

“We are excited to be expanding our portfolio and impact in Baltimore and preserving more affordable housing in this thriving community,” said Jason Bordainick, managing partner and co-founder of HVPG, in a press release.

Sharp-Leadenhall Apartments is the fourth acquisition for HVPG in Baltimore City. This gives the company 650 affordable housing units in the area.

HVPG plans $1.8 million in upgrades to the complex, including “upgrades to common areas such as new furniture, paint, flooring, kitchen appliances and cabinetry; lobby upgrades; laundry room improvements; and an outdoor refresh targeting the building façade and functional landscaping; as well as security enhancement and tenant programing informed by the unique needs of the residents.”

Bordainick told SouthBMore.com the process to begin renovations has started and will likely be completed within a year. He said the improvements will be noticeable for people passing by high-traffic streets, such as W. Hamburg St. which is a gateway to the stadiums.

Community Realty Management (CRM) will take over property management at Sharp-Leadenhall Apartments.

The blocks occupied by Sharp-Leadenhall Apartments have been the site of violent crime over the years with a double shooting in 2020 that resulted in one homicide; an attempted murder in 2020; a homicide in 2019; a stabbing in 2019; and a homicide in 2017.

Bordainick said he plans on engaging with consultants and the residents to put the right security plan in place. “Part of creating a quality place to live is having the residents feel safe,” he said.

He also noted that CRM has “very high standards” for operating a property.

“Hudson Valley’s deep experience with senior and affordable housing will lead to an increased quality of life for our residents of Sharp-Leadenhall,” said Councilman Eric Costello in a press release. “I am thrilled that they continue to invest in our City and look forward to working with them for years to come as we continue to build on the efforts of Stadium Square to help revitalize the Sharp-Leadenhall community in a thoughtful and inclusive manner.”

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Founder and Publisher of SouthBmore.com, longtime resident of South Baltimore, and a graduate of Towson University. Diehard Ravens and O's fan, father of three, amateur pizza chef, skateboarder, and "bar food" foodie. Email me at Kevin@InceptMM.com and follow me on Twitter at @SoBoKevin.