Reinvestment Fund financing is helping Women’s Home Preservation acquire its first mixed-use property in Southwest Baltimore.
Women’s Home Preservation (WHP) is a Baltimore-based for-profit development company focused on providing housing and support for single working mothers in the community. As part of its mission, WHP helps working mothers acquire new skills and learn about entrepreneurship. WPH was founded by Nadine Ngouabe Dlodlo, a Cameroonian-born, Black single mother who moved to America to get her Harvard MBA and who has been in international investment banking and non-profit consulting. The project is helping Ms. Ngouabe Dlodlo build her capacity as an investor and developer.
WHP worked with local community organizations in Southwest Baltimore, to identify the property to acquire—a rowhouse with ground floor retail and two apartments. The retail space will house an affiliated business, ISONAH, which sells minimalist African print inspired clothing and will also serve as a workforce development hub. The retail space will include small workshop that will manufacture patterns and samples for the store. WHP will use the opportunity to support local workforce development including community hiring and skill training.
The apartments in the building will be marketed at affordable rates to low-wage healthcare workers in the nearby campuses of the University of Maryland Medical Center and Grace Medical Center who have a hard time finding affordable rentals near work. This demographic often includes single mothers with young families. The two units are an initial step by WHP to build an inventory of units throughout west Baltimore. The units will be affordable to families with incomes below 60% of the area median income.
The project will also continue to build on Reinvestment Fund’s work in Southwest Baltimore. The rowhome is ¼ mile west of the Lion Brothers building, our last major investment in the area.