Olszewski Announces New Project to Provide Much-Needed Attainable Housing in Baltimore County

County Executive Johnny Olszewski, in partnership with Osprey Property Company, Pax Development and the Community Assistance Network, today announced a new multi-family housing development project that will provide affordable housing units for residents in Baltimore County. Loch Raven Overlook – a soon to be constructed 122-unit property in Towson – will deliver much-needed housing for working families and the most units ever toward Baltimore County’s Voluntary Compliance Agreement (VCA) goal.

“We are all in to change — and improve — the housing paradigm in Baltimore County, and this is yet another example of a strategic partnership that will deliver high-quality, affordable housing with great access to schools and parks, jobs and transit,” said Baltimore County Executive Johnny Olszewski. “I thank Osprey Property Company, Pax Development, and the Community Assistance Network – as well as our state and local partners – for their commitment to building stronger communities and expanding access to quality housing for all of our hardworking families in Baltimore County.”

Under this joint venture by experienced affordable housing developers, the Days Inn, located at 8712 Loch Raven Blvd. in Towson, will be demolished to make room for Loch Raven Overlook. This new attainable housing option in the Loch Raven Commercial Revitalization District will transform an underutilized parcel at the gateway to the District. The development will include a total of 122 units of which 115 will count toward the Baltimore County’s VCA commitment to supporting and incentivizing the creation of 1,000 affordable rental housing “hard units” by the end of 2027.  

Loch Raven Overlook represents the largest-ever commitment towards the county's VCA goal, with 908 total units now approved. Through sustained efforts and future housing opportunities, Baltimore County anticipates to exceed its 1,000-unit goal in calendar year 2025, far exceeding the initial deadline.

“We are proud to support Baltimore County’s vision to create more affordable housing through our Strategic Revitalization Programs,” said Maryland Department of Housing and Community Development Secretary Jake Day. “Projects like Loch Raven Overlook will make it easier for people to live here, start a business here and ultimately strengthen communities here in Baltimore County.”

This project is a major source of investment in reversing a decline at this critical commercial corridor. Construction of this project will bolster the entire area, which already benefits from major employers such as Towson University, Goucher College, Chesapeake Employers’ Insurance Company, and Stanley Black and Decker.

To support this effort, Baltimore County will provide $8 million in American Rescue Plan (ARPA) funding from its Housing Opportunities Fund for the project as a grant to the Community Assistance Network, which will use the funding to acquire the property. The project also benefited from State assistance via a Low-Income Housing Tax Credit and funding through its Strategic Demolition Fund.

“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,” said Baltimore County Councilman Mike Ertel. “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 be divided into two buildings – one with 72 units and one with 50 units. The 72-unit building will include 33 one-bedroom units preserved at 60% AMI, 29 two-bedroom units preserved at 60% AMI, 4 two-bedroom units preserved at 30% AMI and 6 units two-bedroom units preserved at 80% AMI for 40 years.

“Projects like this are only possible through strong partnerships with state, local, and federal programs and partners,” said Osprey Property Company President Brian Lopez. “By aligning resources and working together, we can provide high-quality, affordable housing options that will create jobs, strengthen communities, and improve the lives of our residents. We are thankful to all our partners who have made this project a reality.”

The 50-unit building will include one efficiency unit preserved at 60% AMI, 16 one-bedroom units preserved at 60% AMI, 9 two-bedroom units preserved at 30% AMI, 9 two-bedroom units preserved at 60% AMI, 5 three-bedrooms units preserved at 30% AMI and 10 three-bedroom units preserved at 60% AMI for 40 years.

This agreement is the latest effort from the Olszewski administration to improve access to quality housing in Baltimore County. Since taking office, the Olszewski Administration has:

• Secured passage of the HOME Act, ending housing discrimination by source of income — after years of unsuccessful attempts — and helped pave the way for similar statewide legislation in 2020;
• Created Department of Housing and Community Development to centralize Baltimore County’s housing efforts, eliminate overlapping functions, and streamline planning for key outcomes that are previously dispersed across multiple departments;
• Passed a package of foundational housing reforms proposed by the Olszewski administration to:
  • Establish a dedicated and permanent Baltimore County Housing Opportunities Fund for reoccurring investment to support the ongoing development, rehabilitation, and preservation of affordable, accessible, and attainable housing;
  • Create Baltimore County’s first-ever process to designate properties as “vacant,” serving as the foundation for future efforts to convert blighted and abandoned properties into housing, including homeownership opportunities;
  • Update the County’s regulations to expand family-member use of accessory apartments (accessory dwelling units or “ADUs”) to increase opportunities to keep families together and allow older adults more opportunities to age in place; and
  • Modernize new townhome construction to create additional housing opportunities aimed at residents who may be priced out of the current housing market; as well as a separate bill to strengthen rental housing registration and inspections processes to improve housing quality in Baltimore County
• Announced the largest attainable housing deal in Baltimore County history that preserves 460 housing units of attainable housing at three multi-family properties; and
• Issued an Executive Order requiring that housing developments receiving County financial support must include affordable housing units.

Construction is expected to begin by early 2026.