We’re Proud to Support Borrowers who take on the challenge of revitalizing neighborhoods!

We’re proud to support borrowers who take on the
challenge of revitalizing neighborhoods.

Written By: Spring Garden Lending

In our series, “Developing Stories,” read about some of these borrowers an their experiences. One career just isn’t enough for some people! Rupert is a practicing architect and Gwen was in IT. After taking real estate investment training in 2018, they jumped into the industry. They have been engaged and thriving ever since. Having completed several projects on the private market, they started a new venture in 2020 focused on acquiring vacant properties through Baltimore’ One House at a Time program (OHAAT), which allows them to access city- owned properties to develop affordable housing. Most recently, they’ve mad the move from flips to rentals, and are currently renovating a property in Park Heights to keep in their portfolio.

For financing, they turned to Pete Pecoraro, Spring Garden Lending’s Baltimore Market Director. Pete brought his usual creativity and enthusiasm for the job and got the project going with a construction loan in a matter of weeks. Today, the project is 95% complete. Both Rupert and Gwen agree, “Spring Garden Lending is fast moving. The process has been problem free; inspections are scheduled as soon as we ask; and we are very impressed with the quick draws. All along Pete was very responsive and we benefited from his experience in the field.” Now Rupert and Gwen are bringing another generation into the business, with their adult children joining them for their next round of projects. They believe strongly that Baltimore needs quality affordable housing, and they intend to build it. At Spring Garden Lending, we agree, and are looking forward to being their partners along the way!

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