CATONSVILLE, MD — Maryland-based The Severn Companies and nationally recognized Enterprise Community Investment Inc. (Enterprise) have partnered to acquire Ivy Crossing, a 99-unit multifamily property in Catonsville. Ivy Crossing, built in 1947, provides vital affordable workforce housing to its residents.
“Making significant investment in older multifamily properties like Ivy Crossing is not common,” said Alexander Rouse, COO of The Severn Companies. “We realized this was a rare opportunity to make much-needed improvements while keeping these homes affordable for working families. We are dedicated to collaborating with Ivy Crossing residents as we bring this property up to modern standards and ensure residents enjoy a stable, thriving community for years to come.”
The Severn Companies’ renovation program for Ivy Crossing will include extensive exterior and interior work, covering everything from select roof, parking lot, exterior brick, sidewalk and grounds repairs to unit renovations, including refinishing hardwood floors and kitchen and bathroom updates. Renovations at the property have already begun.