The NHP Foundation and Henson Development Company Open the Doors to Park Heights Senior Apartments

Development is first phase of $400M Neighborhood Revitalization Plan

BALTIMORE, May 22, 2025 /PRNewswire/ -- The NHP Foundation (NHPF), a national not-for-profit provider of affordable housing, partnered with The Henson Development Company (Henson), the City of Baltimore, the Maryland Department of Housing and Community Development (DHCD), and Park Heights Renaissance Community Development Corporation (CDC) to celebrate the ribbon-cutting of The Terraces at Park Heights—a $52 million development delivering 100 affordable one- and two-bedroom homes for seniors in Northwest Baltimore.

This milestone marks the first phase of a sweeping transformation of the 17.3-acre Park Heights Master Redevelopment Area (MRA), designed to revitalize a historically under-invested community into a vibrant, mixed-income, multi-generational neighborhood. The master redevelopment plan includes NHPF and Henson's 90-unit single-family home community, affordable multifamily building and new green spaces. This is expected to further support the neighborhood revitalization efforts which include the new Enoch Pratt Free Library as well as an overhaul of Pimlico Racecourse.

Distinguished guests at the ceremony included Maryland Governor Wes Moore and First Lady of Maryland Dawn Moore, Baltimore Mayor Brandon M. Scott, and First Lady of Baltimore City Hana Scott, Councilwoman Sharon Green Middleton, Housing Commissioner Alice Kennedy, Delegate Sandy Rosenberg, Senator Antonio Hayes, Park Heights Renaissance CEO Yolanda Jiggetts, and Elizabeth Tatum, Acting Director, Mayor's Office of Recovery Programs, and Delegates Malcolm Ruff and Sean Stinnett.

"Since taking office, we've invested more than $75 million into Park Heights to create jobs, grow the economy, and open pathways to work, wages, and wealth for Baltimoreans," said Gov. Wes Moore. "This project marks the next chapter in our work, and it will transform the city by ensuring seniors have access to affordable housing and a safe, vibrant community. When we say this is Maryland's decade and Baltimore's time, it's partnerships like this one that show us what that looks like."

Major Announcements Unveiled at the Event:

• The overall master-planned community will be called Cloverbrook Green. Cloverbrook was the first horse to win the Preakness Stakes that had been bred and trained in Maryland. The community will offer an array of "green" features including solar-powered common areas and energy-efficient appliances.
  
  
• 90+ single-family homes with a targeted construction start of 2026.
  
  
• A 59-unit affordable multifamily rental building will be named The Anderson, commemorating George "Spider" Anderson's legacy.
  
  
• A new sculpture of Anderson—one of only two African American jockeys to win the Preakness in its 150-year history—was unveiled along with other outdoor artwork created by Art with a Heart, a local organization dedicated to using art to enrich lives, bridge divides, and forge the leaders of tomorrow. George "Spider" Anderson was the first African American to win the Preakness Stakes on May 10, 1889 and May 10th, 2025, the date of the Ribbon cutting was the 136th anniversary of his win. 
  
  
• A mural by Baltimore based multi-hyphenate artist LaToya Peoples that honors the history of people of color in the racing industry and celebrates Baltimore's heritage.

"We see this as a unique opportunity to merge Baltimore's rich history with innovative, forward-thinking development that will reestablish this area as a cornerstone of economic and social activity," said Dana Henson, Vice President, Principal, The Henson Development Company, Inc. "There's a story here waiting to be retold, and we're excited to craft a narrative that blends the area's historic vibrancy with new opportunities for growth, connection, and celebration."

The event featured citations from both the Mayor's office and Senator Chris Van Hollen and representatives from the many vendors responsible for the project's completion: Southway Builders, Torti Gallas & Partners, STV Inc., D.W. Kozera, and Environmental Health Consultants. 

The celebration aligned with the 150th running of the Preakness Stakes and the 4th Annual George "Spider" Anderson Music & Arts Festival, reinforcing the neighborhood's cultural ties to Baltimore's racing history.

"You can see my family's home from the Terraces, so this groundbreaking is especially meaningful to me," said Baltimore Mayor Brandon M. Scott. "For many years, folks thought a project like this one, in Park Heights, was impossible. But here we are. This is the story of a neighborhood that never gave up, that stayed committed, and that came together to do the impossible. I couldn't be prouder to be a son of Park Heights—especially today—and I'm grateful to each and every member of the community who helped make this a reality."

Funding partners for the development include:

• $8.7M – U.S. Department of Housing and Urban Development (HUD)
  
  
• $22.5M – Tax credit equity from R4 Capital and Aetna, a CVS Health Company
  
  
• $13.3M – City of Baltimore
  
  
• $5.4M – Maryland CDA
  
  
• $2.1M – Deferred developer fees

Additionally, through community quarterback Park Heights Renaissance, Governor Moore's Office of Children funded the ENOUGH Grant Program which contributed $300,000 toward a new onsite maker space, providing hands-on creative programming for residents and the surrounding community.

"In partnership with our state, city and local partners, we are helping to restore Park Heights' position as one of the most prominent and sought after neighborhoods in the City," said Mansur Abdul-Malik, Senior Vice President, NHPF. "The new maker space reflects our commitment to investing in people and places which we feel are the two most important ingredients for any neighborhood revitalization effort."

Community-Driven, Sustainable Design

The Terraces at Park Heights incorporates rooftop, carport, and gazebo-mounted solar panels, battery backup power, and meet the National Green Building Standards. Amenities include a fitness center, library, computer lab, coffee bar, and lounge areas, along with original artwork and photography celebrating the neighborhood's horseracing legacy.

Resident services will be provided onsite by Operation Pathways, NHPF's dedicated resident services subsidiary.

"Housing is the foundation of strong communities. We are committed to building public-private partnerships that drive long-term change," said Eric Price, President and CEO of NHPF, "Though the road hasn't always been easy, we have remained true to our commitment—to the City and to the residents of Park Heights—to help make this a place where people want to live, grow, and thrive."

About The NHP Foundation (NHPF)
The NHP Foundation (NHPF) is a 501(c)(3) not-for-profit real estate corporation founded in 1989. With over three decades of experience in affordable housing acquisition, investment, development and construction, NHPF's team brings together deep knowledge of real estate fundamentals, attention to changing resident and community needs, and the expertise required to make sound investment decisions. We are also committed to providing equitable, tailored resident services programs, powered by our subsidiary, Operation Pathways, which offers Family-Centered Coaching to families facing poverty and hardship. Through strategic partnerships with financial institutions, the public sector, faith-based organizations, and other nonprofits, NHPF currently owns and operates 63 properties across 16 states and the District of Columbia serving over 25,000 residents. For more information, please visit www.nhpfoundation.org.

About The Henson Development Company
THE HENSON DEVELOPMENT COMPANY, INC. (THC), a 100% family owned and operated minority-owned business enterprise, is a fully integrated real estate developer, consultant and program manager based in Baltimore, Maryland. The president and founder of THC is Dan Henson, a successful developer who has a distinguished private and public sector career in housing. Founded in 2000, the company is committed to providing full service real estate development services in urban and progressive communities. THC has had particularly detailed experience with re-energizing former public housing developments into mixed-income, mixed-use communities for more sustainable and stable communities, offering a comprehensive vehicle to revitalize neighborhoods that nurture and support an improved quality of life for the families who reside there. THC has worked on or is currently working on real estate development projects totaling over $600 Million – 3,000 units in Baltimore, Maryland, Washington, D.C. and Florida. Additionally, THC serves as a consultant on numerous assignments across the country.

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SOURCE NHP Foundation