$50 million funding aims to reduce vacant buildings, create more affordable housing in Baltimore

BALTIMORE -- Maryland Gov. Wes Moore announced a $50.8 million effort to create more affordable housing and rehabilitate vacant buildings in Baltimore City through the Baltimore Vacants Reinvestment Initiative. 

The plan is to revitalize Baltimore neighborhoods by reducing the number of vacant buildings across the city. The commitment will be included in Maryland's Fiscal Year 2025 budget and will accelerate the funding to rehabilitate vacant properties and clear the way for affordable housing, new green space and mixed-use developments. 

"In order for it to be Maryland's decade, it has to be Baltimore's time," Moore said. "This historic investment through the Baltimore Vacants Reinvestment Initiative will transform the City of Baltimore by addressing vacancy brick by brick and block by block."

The Baltimore Vacants Reinvestment Initiative is one of the Maryland Department of Housing and Community Development's seven State Revitalization Programs that provides funding to public, private and nonprofit partners in Baltimore City, according to the governor's office. 

"The $50.8 million in funding through the Baltimore Vacants Reinvestment Initiative is a key component of the Moore-Miller Administration's plan to build a stronger Baltimore by converting the city's vacant buildings into new homes and lovable spaces," said Maryland Department of Housing and Community Development Secretary Jake Day. "This funding will allow our local government and non-profit partners the ability to create stronger neighborhoods by increasing home ownership, adding more commercial space and creating new public spaces to make Baltimore better."

Funding will go directly to awardees to support identified projects, including:

• Baltimore City Department of Housing and Community Development, awarded $20 million to accelerate the acquisition of properties for demolition, stabilization and rehabilitation and reuse.

• Maryland Stadium Authority, awarded $9 million to support demolition, stabilization and related activities for vacant and abandoned properties in priority neighborhood target areas through the expanded partnership between the Maryland Department of Housing and Community Development and the City of Baltimore.

• Druid Hill Partnership Inc., awarded a combined $2.15 million for the stabilization and rehabilitation of several residential properties near Druid Hill Park, Reservoir Hill, West North Avenue and Penn North neighborhoods.

• Neighborhood Impact Investment Fund, Inc., awarded $1.5 million to support acquisition, demolition, infrastructure and/or design for the next phase of Reservoir Square on West North Avenue, which will include a nearby grocery store, neighborhood retail, and mixed-income apartments and parking.

• Southeast Community Development Corporation, awarded $1.5 million for acquisition and stabilization of the Crown Cork & Seal site on Eastern Avenue in advance of a large-scale rehabilitation effort for mixed-use live and work artist use. 

A complete list of awardees is available on the DHCD website.