citybiz+ Calvin Young Named Chair of East Baltimore Development

East Baltimore Development, Inc., a nonprofit corporation tasked with rebuilding the area near Johns Hopkins Hospital, has named Calvin Young, general partner at Green Street Impact Partners, as its new chairman.

Young, who represents the private equity firm based in Washington, D.C., succeeds Jeanne Hitchcock, who stepped down from the role after her retirement from Johns Hopkins University and Medicine.

An engineer with an MBA from Harvard Business School, Young previously worked at Camden Partners, the Harbor Bank of Maryland and Raytheon Technologies. He also serves as treasurer of Mayor Brandon M. Scott’s re-election campaign team.

EBDI is supported by the federal and Maryland governments, as well as the City of Baltimore, the Annie E. Casey Foundation, Johns Hopkins Institutions, the Harry and Jeanette Weinberg Foundation, the Atlantic Philanthropies and others.

In 2016, Young ran a community development program for Harbor Bank. As vice president of Harbor Bank’s Community Development Corp., he helped bring together venture capital and minority tech entrepreneurs to stimulate investment in local businesses. The program attracted investments from Abell Foundation, Camden Partners, Early Charm Ventures, Meridian Management Group, Sagamore Ventures, the Maryland Technology Development Corp., Village Capital and Momentum Advisors.

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“We wanted to demonstrate that’s it’s all about putting the right companies in the room with the right investors,” he was quoted as saying then. “Now we have investors sending us notes saying ‘Thank you,’ because we introduced them to a group of companies with great potential that they’ve not seen before.”

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When completed, EBDI will have over 2,000 mixed income homeownership and rental housing units, 1.7 million square feet of life sciences research and office space, a 7-acre community learning campus with an early childhood center, a public K- 8 elementary school, fresh food stores and other retail amenities, green spaces, and a new community linear park.

Green Street focuses on technology enabled education–K-12, higher education and workforce learning firms, eyeing the “double bottom line” of financial performance and social impact.