Basilica Place
124 W Franklin St
Baltimore, Baltimore City County, Maryland 21201

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Funding Programs

Basilica Place was developed and operates with Federal housing financing. The property utilizes the Section 202 Federal housing program to make rent affordable to lower income tenants.

Section 202

The property was developed with funding through the HUD Section 202 program which provides funding for housing for seniors who are 62 or older. The program provided both capital financing to construct the property and operating subsidies that work as rental assistance like the Section 8 program. Basilica Place is among only 113 Section 202 properties in Maryland and 6,166 in the country.

Overview

Basilica Place is an affordable apartment community located in Baltimore, Maryland which is located in Baltimore City County. The property is located in Maryland's 3rd Congressional District served by Representative John Sarbanes (D), Senator Chris Van Hollen (D) and Senator Benjamin Cardin (D).

Basilica Place is an apartment community containing 200 rental units. The property contains 210 bedrooms and based on typical apartment occupancy limits, Basilica Place is home to not more than 325 persons when fully occupied.

Rent Subsidies

Basilica Place provides rental subsidies to renters. The type of subsidy provided to apartment renters in Baltimore, MD by this property is Section 202 Rental Assistance.

This subsidy allows the renter to pay 30% of his or her income for rent while the subsidy pays the difference. To qualify, a renter must earn 50% or less of the Area Median Income.

There is no minimum rent at this property for residents receiving a rent subsidy but in recent years, there has been discussions in Congress to implement a minimum rent in the Section 202 Program to reduce cost burden on the Federal budget.

Unit Mix

Basilica Place contains a mix of 200 assisted one and two bedroom apartments for rent. There are 190 One Bedroom and 10 Two Bedroom apartments in this property. The unit mix is 95% One Bedroom and 5% Two Bedroom apartment rentals. The average bedroom size for Basilica Place is 1.04.

Maryland's 3rd

Congressional District

200

Total Units

200

Project Based Sec. 8 Units

200

Section 202 Units

200

Senior Units

99.7

% of Fair Market Rent

30-Sep-35

Project Based Sec. 8 Contract Expiration

One and Two

Unit Mix

1.04

Average Bedroom Size

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† These counts are estimates based on the data available from HUD. Learn More About Our Data