Lexington Terrace developers to lease land for $1 per year

March 19, 2000|By Ivan Penn | Ivan Penn,SUN STAFF

As part of the effort to rebuild the former Lexington Terrace Apartments, the city Board of Estimates has approved long-term lease agreements for $1 a year for the site where public and senior subsidized housing has been built.

The city gave the Lexington Terrace Senior Housing Limited Partnership a 55-year lease on the land and the Lexington Terrace Townhomes Limited Partnership a 50-year lease last week.

The developers received the deal because companies that build public housing are entitled to such benefits under city, state and federal law, said Arthur Gray, an executive assistant in the housing department.

Gray said the city comptroller's office raised questions about the payments in lieu of taxes agreement, but that no one opposed the deal. The board gave unanimous approval to the agreement.

The $9.22 million senior project will have 88 rental units, including 47 for public housing tenants. The $25.6 million townhouse complex includes 203 public housing units.

City Council President Sheila Dixon said the two projects are the kinds of developments residents have called for in the area.

"This is what came out of the discussions with tenants," she said. "This is what they were looking for."

In 1996, the city demolished the five high-rise and 25 low-rise buildings that made up Lexington Terrace in West Baltimore because they were dilapidated. The development included more than 670 housing units.

The site has been redeveloped into five developments. In addition to the senior and public housing, 100 townhouses, a business center and a recreation center are planned.

Baltimore Sun Articles
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.