Our real estate model targets properties that are on the edge of the emerging pockets of wealth and benefit from the lack of demand in those areas with low acquisition prices. Despite the low acquisition costs, the rental market is strong and demands rents that are higher in proportion to acquisition. Long term we see potential for these high income pockets in Baltimore to mirror what has developed over the last 25 years in areas of DC and Philadelphia.
Additionally, professionals are drawn to Baltimore for Federal Government jobs, education, healthcare, biotech, cybersecurity, and finance industries. At this time, it's tough to compare Baltimore to any other major US city. Baltimore is a "pocket centric" city, meaning people with income tend to only live in particular areas (Fells Point, Federal Hill, Mount Vernon). Our business model is to invest in those specific areas and build boutique, amenity rich living environments of less than 35 apartment units.