Noah and Ark Communities Partner on Baltimore Workforce Housing Development, Yorkewood

BALTIMORE, Aug. 11, 2021 /PRNewswire/ -- Ark Communities, a newly launched workforce strategy from Landmark Partners, and Noah, the leading workforce housing brand part of the Common family of brands, today announced their collaboration on Yorkewood. Located at 1101 ½ Ramblewood Rd., Yorkewood will meet the increased demand for high quality attainable and middle-income housing in the greater Baltimore area. Noah's technology-first approach to property management paired with Ark's commitment to quality and serving the local community will bring a better living experience to residents in this 286 unit apartment building.

Ark will execute a unit renovation program for Yorkewood, becoming its flagship workforce housing property in Baltimore. The 68 building community features garden-style apartments with Noah and Ark's signature resident-first style of property management which prioritizes convenience and value. Post renovation, the community will focus on serving residents who earn 80% or below of AMI.  Despite COVID-19, rent prices in Baltimore are slowly increasing across the city. There has been a year-over-year increase in rental prices of 3.2% With prices continuing to soar, attainable rental housing like Yorkewood will continue to be essential to the community. 

"With Yorkewood as Noah's official entrance into Baltimore, we're proud to be working with local housing experts, Ark Communities, to provide quality workforce housing to the area with the focus on expansion throughout the city and state," Brad Hargreaves, Founder and CEO of Common, said. "Reliable property management is not often prioritized in workforce housing, even though it is poised to become one of the most important national housing categories post COVID-19. Noah is on a mission to change this fact, and Yorkewood is a perfect example of exactly what the future of workforce housing should look like."

Ark Communities is led by Landmark Partners, an innovative real estate developer based in Baltimore and focused on providing comprehensive living solutions. With the need for thoughtful housing in Baltimore, Ark Communities was founded on the principle of putting residents at the center. Its mission is to elevate the resident experience by providing high-quality units and creating new opportunities for residents with enhanced education and financial stability to impact the present and future.

"It's imperative we protect and grow the attainable housing stock in Baltimore with focus on high quality spaces and high-touch service. We're confident our partnership with Noah will provide the comprehensive skills and solution set to achieve our mission through rapid growth, impact-driven technology and coordinated resident programs," said Jon Pannoni, President of Landmark Partners. "We are, and always will, place community first and seeking every opportunity, to build the relationships and experiences our residents have within our ecosystem." 

Noah is the expert in workforce housing with 12 properties in the US and a proven track record in providing a better property management experience for renters, making living easier. Noah is under the family of brands from Common, the leading residential brand in the US that designs, manages and leases multifamily apartments in over 10 cities. Common has over 26,000 signed units opening in 22 cities across the globe, and continues to disrupt the property management space. This past year Common announced its takeover of the majority of management agreements from Starcity, added the former Deputy Mayor of New York City to its Board of Directors and raised $50 million in its Series D venture capital funding round from Kinnevik.

About Noah

Noah Living is a residential brand from Common providing high-quality and reliable workforce apartment rentals at prices that make sense. With renter-focused property management and thoughtful community-focused amenities, Noah makes life easier for essential workers and everyday people to find housing in and outside of big cities. Noah residents have access to a host of benefits including security-deposit free rent, financial planning programs, and wellness perks. Noah partners with real estate firms to implement their value-add business plans and build new attainable housing. To learn more, visit NoahApartments.com or follow us at @noahapartments.

About Ark

Ark Communities focuses on acquiring, renovating, and operating large-scale rental communities with reliable and innovative programming that places its residents first. Our goal is to build safe communities through quality spaces, run by thoughtful and high-touch management teams with added services to enhance the future of all tenants. We partner with local businesses and key stakeholders to deliver thoughtful solutions and incentives to our residents while leveraging technology platforms to provide a more comprehensive experience. Our ever-growing pursuit towards bettering the entirety of the rental and resident experience will impact communities and cities now and for the future.  

Media Contact:
Phoebe Dinner
[email protected]

SOURCE Common

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www.common.com

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