Historic Mount Vernon Building Gets Revitalized

On June 29, 2009, Commissioner Graziano joined Mayor Sheila Dixon, Congressman Elijah E. Cummings, City Council President Stephanie Rawlings-Blake, neighbors and new residents in a Ribbon Cutting Ceremony to celebrate the revitalization of the Professional Arts Building. Located in the heart of Mount Vernon, the building offers approximately 110,000 gross square feet, which includes 96 new market rate apartments and a ground floor retail space. The new apartments feature modern amenities while maintaining their historic charm. Residents can enjoy nine-foot-high ceilings with oversized windows that offer spectacular views of Baltimore.

Built in 1927, the structure was originally known as the Medical Arts Building and housed medical and professional offices. In the 1990s, it had fallen into disrepair and substantial vacancy. Then in 2006, the Somerset Development Company and its joint venture partner NAGE Housing, Inc., acquired the historic property. The development team utilized Federal Historic Tax Credits, Maryland State Historic Tax Credits and the Baltimore CHAP Historic Credit to preserve the building. Construction was completed in June 2009. The total development costs for this historic renovation and adaptive re-use project was $25 million.

The Somerset Development Company is a private development company specializing in urban revitalization; historic preservation; and mixed-use, mixed-income development. Somerset is a woman-owned business, focusing on developments that help strengthen urban communities primarily in the Baltimore and Washington, DC markets.