BridgeWater Real Estate Brokerage is proud to present The Liberty Portfolio, a 322-unit workforce housing platform located across the Curtis Bay and Brooklyn neighborhoods of South Baltimore. Comprising 108 units at Liberty Bay and 214 units at Liberty Cove, the Portfolio features durable mid-century brick construction, efficient walk-up designs, and a concentrated geographic footprint that supports streamlined management and stable leasing performance.
A defining advantage of The Liberty Portfolio lies in its exceptional suitability for reconfiguring existing units into larger, family-oriented layouts—typically 3BR–4BR formats with optional 5BR expansion, achieved without density loss by leveraging the buildings’ unfinished basement levels. In many units, the upper-level living area and kitchen can be efficiently repurposed into a fifth bedroom and an ensuite master bathroom, utilizing the former kitchen footprint for the bathroom location. This approach creates a true 5BR / 3BA configuration without requiring structural modifications, enabling meaningful rent growth and NOI repositioning under LIHTC and HUD execution.
Most importantly, the Portfolio is ideally positioned for a 4% LIHTC acquisition–rehabilitation financed with HUD-insured debt. HUD underwrites to stabilized post-rehabilitation NOI rather than in-place income and permits developers to include the acquisition price in eligible basis, generating additional Low-Income Housing Tax Credits. The Portfolio’s building consistency, basement space, and redevelopment capacity support a scalable and impactful affordable housing repositioning that directly aligns with City and State housing priorities.