Dominion Properties is making a major move into the multifamily housing market with the acquisition of its first two apartment communities: Cedar Hill at 901-903 Woodson Rd. and Hampshire House at 6001 Park Heights Ave. With a long-standing mission to offer safe, simple housing solutions for homeowners in distress and transform underutilized properties into beautiful, functional homes, this expansion marks an exciting new chapter in the company’s commitment to strengthening Baltimore’s neighborhoods.
Dominion currently manages over 850 rental units, ensuring well-maintained, affordable housing across the city. By entering the multifamily sector, the company is broadening its impact—providing more families with high-quality, stable housing while continuing its mission of revitalizing communities.
A Shift in Strategy: Why Multifamily, Why Now?
Historically, Dominion has focused on single-family homes, but recent instability in commercial real estate markets has created unique opportunities. According to Brian Leibowitz, Director of Acquisitions for Dominion Properties, the timing was ideal.
“Right now, we’re seeing historically better pricing in multifamily than we’ve seen in years,” Leibowitz shared. “For us, this shift isn’t just about diversification—it’s about seizing opportunities.”
Dominion’s multifamily portfolio is set to grow further, with upcoming projects including the Park Ave Block (46 units), Howard St. (14 units), and 5215 Todd Avenue (61 units).
Cedar Hill: A Stable Community with Potential
Dominion purchased Cedar Hill, a 20-unit property in the Lake Walker neighborhood, for $2.3 million—approximately $115,000 per unit. This acquisition was secured at a favorable price, partly due to challenges with the seller’s documentation and property management.
“This property had its share of problems,” Leibowitz said. “The seller was missing documents, provided inaccurate estimates, and turned off other buyers. But for us, that was an opportunity. We dug in, underwrote the numbers, and recognized the potential.”
Cedar Hill boasts a stable, family-oriented community with low turnover and a desirable location. Dominion plans to update units as they become vacant, focusing on maintaining affordability without transitioning to luxury apartments.
“It’s not luxury; it’s stable, affordable housing—exactly what the neighborhood needs,” Leibowitz emphasized.
Hampshire House: A Diamond in the Rough
Hampshire House, a 28-unit property purchased at auction for $2.94 million, presented a starkly different challenge. With 14% vacancy and significant deferred maintenance, this property required a more intensive renovation strategy.
“The previous owner’s mismanagement and failure to maintain the property scared off other investors,” Leibowitz noted. “But for us, it was an opportunity to leverage our in-house construction and property management teams.”
Renovations include new kitchens, bathrooms, flooring, and critical updates to electrical and plumbing systems. Dominion plans to renovate vacant units immediately and address others as turnover occurs.
Dominion’s Multifamily Vision
The acquisition of Cedar Hill and Hampshire House is a significant step in Dominion’s broader strategy to expand its multifamily portfolio. Leveraging its integrated structure—including Dominion Properties, Dominion Management, and its in-house construction team—enables the company to tackle properties that other investors might find too daunting.
“These properties are in our backyard, and we have the resources to turn them around,” Leibowitz said. “Our approach is hands-on, and that’s what sets us apart.”
Dominion’s entry into multifamily is not just a business pivot but a testament to its adaptability in a fluctuating market. As more projects come online, the company remains committed to revitalizing neighborhoods and providing quality housing in Baltimore.
About The Dominion Group of Companies
The Dominion Group of Companies, founded in 2002, operates as a privately held, vertically integrated residential real estate investment company based in Baltimore, MD. Specifically, it consists of Dominion Properties, Dominion Management, and Dominion Financial Services, focusing on revitalizing distressed properties and creating thriving communities.