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Baltimore, MD

Completing a historic building renovation to host a community wealth hub and furnished apartments.

• Mission-driven hub: First-floor space dedicated to mutual aid, business training, and local investment programs.
• Mixed-income lodging: Five furnished apartments target corporate housing and short-term visitors for reliable revenue.
• Historic tax credits: Part 1 approved and Part 2 submitted, with up to $400 k in equity anticipated from HTC investors.
• Exit to community: Planned 2034 sale or refinance designed to transfer ownership to local residents and tenants.
• Experienced stewardship: Led by Jenny Kassan and a team with deep expertise in mission-aligned real-estate finance.

Baltimore Community Commons at The Mulberry is raising community capital to complete the historic renovation of a four-story, 6,525-square-foot building at 15 West Mulberry Street in downtown Baltimore. Additional funds will finish interior build-out, furnishings, and fixtures after unforeseen structural issues increased the construction budget from $1.1 million to roughly $1.5 million. With mechanical, electrical, plumbing, and fire-suppression rough-ins already in place, the project can be finished in about five months, bringing five furnished one-bedroom apartments and a first-floor gathering space online by July 2026.

The ground floor will house Baltimore Community Commons, a nonprofit hub for time-banking, community business education, and local investment programming, while the upper residences will serve short-term travelers and corporate guests eager to experience authentic Baltimore. Investors participate through preferred interests in the managing entity and are projected to receive returns from operating cash flow and an “exit to community” sale or refinance in 2034. Historic tax-credit equity and prior private funding have already secured over two-thirds of the $3.1 million project cost, anchoring a mission-driven model for neighborhood wealth building.

Company Info

The project is restoring a historic Baltimore building into a nonprofit community hub with five furnished apartments, funded by a blend of private capital, tax credits, and crowdfunding.

Baltimore Community Commons at The Mulberry is a mixed-use rehabilitation of a four-story, 6,525-square-foot building at 15 West Mulberry Street in downtown Baltimore. The ground floor will host a nonprofit membership organization that promotes mutual aid, community investing, and hands-on business education, featuring an open living-room gathering space, event and workshop rooms, and a small retail café. Above, five fully furnished one-bedroom apartments are aimed at the short-term rental and corporate housing markets, providing visitors revenue-backed access to the charm of central Baltimore while supporting the Commons mission.

Managed by OMS Management LLC, the project bought the property in 2021 and began renovation in 2023; unexpected structural issues raised total costs to roughly $3.1 million. About $2.57 million has already been secured through preferred equity, private loans, donor-advised funds, and pending federal historic tax-credit equity, leaving a final gap of approximately $550,000 now being raised via Regulation Crowdfunding. Once fully funded, construction is expected to complete within five months, targeting an opening by July 2026. Investor returns are planned from operating cash flow and an exit to community sale or refinance projected for 2034.