TOWSON, Md. — Baltimore County will give $8 million of COVID-related funds to help buy the Days Inn in Towson, which is set to be converted into an apartment building.
The 122-unit "Loch Raven Overlook," at Joppa Road and Loch Raven Boulevard, will be the "largest-ever commitment" toward the county's goal of building 1,000 units of affordable housing, said County Executive Johnny Olszewski in a press release today.
The Days Inn would be demolished so the Loch Raven Overlook can be built in its place. Construction is expected to start by early 2026.
The county said 115 of the 122 units will count toward its 1,000-unit goal.
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The press release also says this is a large investment "in reversing a decline at this critical commercial corridor," and will benefit nearby employers like Towson University, Goucher College, Chesapeake Employers’ Insurance Company, and Stanley Black and Decker.
The Community Association Network will be the agency that actually buys the property.
The property also got a state tax credit and funding through a Strategic Demolition Fund, reported the county.
Baltimore County Councilman Mike Ertel said in a statement:
We are excited about the prospect of having a new residential apartment community in an area that has been a blighted property for many years. It will be an attractive, high-quality building that will provide affordable rents to hardworking people who already work and live on the Loch Raven Boulevard. I’ve been heartened by the collaboration of the developer and the surrounding community to bring this project forward.
The development will have two buildings, one with 72 units and one with 50 units.
The one with 72 units will have one-bedroom and two-bedroom units that will be charged up to 60 percent of the area's median income.
The one with 50 units will have units with up to three bedrooms, preserved at up to 60 percent of the area's median income, for 40 years.
