Urban revival. Investing in the community, block by block.
Sep 15, 2021
Sep 15, 2021
Blight to right. Helping to transform a neighborhood. Re-use. Two blocks of vacant buildings into market rate and affordable housing. Opportunity for investors. In an Opportunity Zone. Opportunity for homeowners. Down payment assistance. Triple bottom line. Offering a return to investors, the neighborhood and the tenants.
Baltimore City, also known as Charm City, is in a period of revival. The Aruka Midway revitalization project is expected to add to that revival in East Baltimore. The first phase calls for the rehabilitation of two contiguous blocks of East 22nd Street. 23 vacant row houses are planned to be renovated into 32 units, including 15 single-family homes, eight rental apartment buildings with 16 units, and one commercial unit located on the ground floor. The developer has formed also an initiative to provide future home-buyers with educational resources, counseling support and a down payment assistance package of up to $43,000. In addition, a ten-year tax-credit is available on some properties that are located in the locally designated historic district of Barclay Greenmount, saving future home-owners an average of $70,000 on taxes over time.