The University is strategically shifting away from operating on-campus housing while ensuring a smooth transition for residents.
Since 2004, the University of Maryland, Baltimore (UMB) has provided two on-campus housing options for the University community: Fayette Square and Pascault Row.
Both properties have historically served as valuable housing options due to their affordability and proximity to campus. However, like many campus housing properties nationwide, Fayette Square and Pascault Row experienced significant declines in occupancy during the COVID-19 pandemic. While some improvement has occurred, occupancy rates have not returned to pre-pandemic levels, and both properties would require substantial capital investment to remain competitive with newer housing options in the area.
Given these challenges, and in alignment with UMB’s broader efforts to support a vibrant campus community for students and all members of UMB, the University has made the strategic decision to sell Fayette Square, as shared in a December 2022 communication.
We are pleased to announce that Zahlco Management has been identified as the buyer, with the sale date of Fayette Square recently finalized for Friday, Feb. 28, 2025. At that time, ownership will formally transition from UMB to Zahlco. With the transition to Zahlco’s ownership, Fayette Square will be rebranded as 500 W.
In addition to the sale of Fayette Square, the University has also decided to sell Pascault Row as part of its long-term plan to transition out of direct housing operations and better support near-campus vibrancy efforts. Zahlco will manage operations at Pascault Row until the property ceases operations on Aug. 31, 2025.
Zahlco is a local real estate firm with extensive experience in residential property management. The company is deeply connected to Baltimore, with several properties throughout the city, including two within proximity of the University. Zahlco has a proven record of providing high-quality living spaces and is well positioned to take on ownership of Fayette Square and interim management of Pascault Row.
While UMB will no longer own Fayette Square, Zahlco would like 500 W. (formerly Fayette Square) to be considered a preferred housing option for the UMB community. Under Zahlco’s management, 500 W. will remain a convenient and comfortable housing option. All members of the UMB community, including current and prospective students, are encouraged to consider 500 W. for their housing needs.
Key Facts About the Transition
The University has developed a transition plan to minimize disruption for current residents and is working closely with Zahlco to ensure a smooth transition of services and operations. You should know:
- All existing housing licenses will be honored under the new ownership for the duration of their agreements, including licenses tied to existing housing scholarships offered for the 2024-2025 academic year and 2025-2026 academic year.
- The University will no longer offer new housing scholarships.
- Zahlco will assume management of licenses for Fayette Square and is accepting new licenses for members of the UMB community interested in living at 500 W. (formerly Fayette Square).
- To comply with Baltimore City landlord/tenant regulations, Fayette Square residents will need to sign a new lease that maintains their current agreement’s terms after the sale on Feb. 28, 2025.
- Pascault Row residents will not need to sign a new license.
- All licenses for Pascault Row will conclude on or before Aug. 31, 2025. Current residents may extend their housing agreements through Aug. 31, 2025.
UMB has communicated this update directly to current residents and will keep residents informed as the closing date approaches and after the sale, as needed.
Moving Forward: Expanding Off-Campus Housing Resources
Moving away from ownership of on-campus housing aligns with the University’s broader strategic priorities to foster robust community partnerships and contribute to the growth of vibrant neighborhoods in West Baltimore. This change allows the University to focus more directly on its core mission of education, research, and service while leveraging external expertise and private investment to maintain high-quality, convenient housing and other amenities near campus for the UMB community.
We remain committed to supporting the campus community’s housing needs. To assist those seeking living accommodations near campus, UMB is developing off-campus housing resources to help students and other members of the UMB community navigate housing options in Baltimore City.
We recognize that affordability is a priority, particularly for students. As we develop these resources, we encourage you to share your input. We previously gathered feedback through the UMB housing survey issued in October. We will continue working with students to discuss the range of resources and options that they may find helpful. To participate in these discussions, current residents and other interested students can contact umbstudentaffairs@umaryland.edu.
We extend a special thank you to residents living in Fayette Square and Pascault Row.
We invite all members of the UMB community to share your thoughts, questions, or concerns by contacting UMB Student Affairs at umbstudentaffairs@umaryland.edu.