Hiring East Baltimore and Baltimore City Residents
EBDI set and achieved higher participation targets for minority-, women- and locally-owned companies than ever before. Economic inclusion at all levels of development is a bedrock principle of EBDI.
Relocation Benefits and Fair CompensationOn average, homeowners received five-times the value of their homes, or $150,000, which enabled them to move mostly to stable neighborhoods mortgage free. Renters received vouchers allowing them to rent affordably throughout the region.
Community Reinvestment FundEBDI,in partnership with a fund manager, is creating a loan and grant fund to support small and minority businesses and workforce development initiatives aimed at East Baltimore businesses and residents.
Opportunity To ReturnFulfilling a commitment made at the project’s beginning, EBDI is helping relocated homeowners and renters return to Eager Park by defraying closing and moving costs, narrowing financing gaps and ensuring a supply of affordable houses.
Affordable HousingWhen completed, the EBDI neighborhood will have an estimated 1,700 homes and apartment and one-third will be affordable to homeowners and renters.
Minority Development and Equity
From inception, EBDI set goals for the first time in Baltimore City that expanded on the traditional goals that organizations set for minority participation in design and construction to include minority and women developers and equity owners. Eager Park, among major Baltimore City redevelopment projects, is the first to emphasize and cultivate non-majority participation in all aspects of development, including ownership. For example, Forest City Enterprises and Presidential Partners (the predecessor name to Brookfield Properties) was a partnership of a publicly traded REIT and seven local African American developers.