It is with great sadness that we announce that we have ceased our efforts to establish a senior cohousing community in Baltimore City.
We were in the midst of the feasibility period - the period of time between when we signed a Purchase and Sale Agreement (PSA) with the owner of the site we had identified, and the closing date for the purchase of the site, 120 days in our case. During this time we engaged engineers and architects to evaluate the site, met with the city Planning Office staff, and continued marketing to identify potential members to work with us to ultimately purchase and develop the site.
In the end, the cost to develop this particular site was appearing to be increasingly expensive, making the anticipated cost of the individual units more costly than most interested individuals were prepared to spend. Therefore, as is provided for in the PSA, we were able to cancel the acquisition of the site and receive our earnest money back. We will not, however, receive any return on the thousands of dollars spent to evaluate the site. We knew this going into it.
We are very disappointed, to say the least. Several households had recently joined us as Explorers, and we were just getting to know them. They are great people, people we were hoping would be our neighbors. We are taking a very big break. We will step back and take stock. In the mean time we won't be offering any information sessions, newsletters, or events.
April 2, 2025
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