Follow-on Investment for AREA 405 Arts Hub in Greenmount West
Neighborhood Impact Investment Fund
Arts and Culture, Loan Fund
Maryland
In March 2022, NIIF joined with the Reinvestment Fund to provide $2.8 million in financing to a unique joint venture between the Central Baltimore Partnership (CBP) and Ernst Valery, a local real estate developer, to support the acquisition and preservation of AREA 405 in the Station North Arts District. Since acquisition, the sponsors have completed a wide variety of improvements to bring the property into compliance with local building codes and to re-activate it as an artist studio hub, makerspace, performance venue and gallery.
