Kevin Seawright’s New Park Heights Renaissance Project Highlights the Need for Affordable Housing in Baltimore.
Residents are already looking forward to the next building and development project in the portfolio for Park Heights Renaissance. Construction of a 165-unit complex at Park Heights Renaissance that is dedicated to affordable housing has Board Chair Kevin Seawright excited about the prospect of providing for the community in impactful ways. There has long been a gap in affordable housing throughout Baltimore City, made worse by recent gentrification efforts that have revitalized neighborhoods while pushing out locals.
Park Heights Renaissance stands out as a vital and livable community for a number of reasons. First and foremost, residents will have access to modern accommodations with options for one, two, and three bedroom apartments. Residents will also be provided with a number of included amenities, ranging from a business center to on-site laundry. Checking off another critical component for Park Heights Renaissance is the development’s proximity to public transportation. The new property will be located just steps from West Cold Spring Station, which serves as a hub for the Metro and MTA.
Seawright has remained active in the Baltimore real estate scene, with “public-private partnerships [that] have created nearly 250 affordable apartment units” according to Seawright himself in a recent statement. The goal is to offer these accommodations to individuals and families in a way that helps break the rent cycle and empowers them as homeowners without further sacrifice to their quality of living or forced relocation. Gentrification continues to drive income inequality, and perhaps no other community has been more dramatically affected by this than Baltimore. The city has the fifth highest level of gentrification in the nation. The impact is that people are being displaced in soaring numbers as developers come in to update and redefine not just the structures in the area but also the people who can afford them.
Seawright’s own experiences growing up in Philadelphia helped frame his understanding of the impact the rent cycle and the power that becoming a homeowner can give to residents. To do this, he believes that housing needs to be both affordable and decent and that all individuals deserve a chance at a better quality of life. “With newly increased demand, some real estate developers have seen this as a way to increase prices…. Affordable housing opportunities are drying up, leaving almost nothing for middle- to lower-income families that are interested in homeownership,” explained Seawright in an interview.
The project underway with Park Heights Renaissance is just one example of this effort. Park Heights Renaissance also provides consulting when it comes to financial matters, helping buyers enhance their own financial literacy so that they can own the home of their dreams. Seawright believes in helping people purchase within their means and understand what those means really are. That can include advice ranging from being honest about what they can afford to looking at monthly payments rather than interest rates with a later goal of refinancing. The independence that comes from owning a home is something Seawright is also proud to watch his clients achieve. While he calls “buying a home the biggest transaction you will ever make,” he encourages people from all walks of life to pursue their goal. Seawright explained further, “The biggest thing is will you have equity in that home and be able to move forward to your next opportunity.” And that opportunity, provided fairly and affordably to the people who need it most throughout Baltimore, is what Kevin Seawright is all about.
