Latest news with #ReinvestBaltimore
Yahoo
6 days ago
- Business
- Yahoo
Baltimore Mayor Brandon Scott, Gov. Wes Moore make progress on housing, but hurdles remain
BALTIMORE — Baltimore Mayor Brandon Scott's plan to build new housing to replace vacant units is making progress, but some hurdles remain. Maryland and Baltimore are racing to confront a deepening housing crisis — one defined by soaring rents, crumbling vacant properties, and a chronic shortage of affordable units. While state and city leaders have outlined bold, billion-dollar strategies to build, rehabilitate, and preserve housing, they face a maze of obstacles: budget shortfalls, bureaucratic delays, aging infrastructure, and the looming threat of federal funding cuts. For thousands of families, the stakes are immediate — stable housing hangs in the balance. As of this month, there are less than 13,000 vacant units in Baltimore City. This number has been steadily decreasing over the last five years, with more than 16,000 vacancies reported in January 2020. The city is on track to increase its rate of reducing the number of vacant units from 500 a year to 1,000 a year, Maryland Housing and Community Development Secretary Jake Day said. There's an opening for Baltimore to possibly help fill the housing shortage in Maryland, which sits at about 96,000 units. The Eager Park Partners' East Baltimore Development Project, which the mayor's office said is a part of the first new residential development in the Broadway East neighborhood in decades, broke ground during a Tuesday ceremony. The project plans to build 54 townhomes in place of once-vacant townhomes. 'It's made possible by the funding support from the state, from all our partners to make sure that we do not stop, that we keep building and we keep getting rid of vacants.' Scott said at the groundbreaking ceremony. This is the latest step towards building livable housing in Baltimore, where vacant units once were, as the city has seen many residents move outside of its limits in recent years. Last year was the first year since 2014 that the Baltimore population did not decrease. It grew by 754 residents. The mayor's plan to address vacant housing includes a 15-year plan to invest $3 billion in acquiring vacant properties and later rehabilitating the units or demolishing them to construct new housing. He has also made efforts to change some zoning laws that have made building high-density housing difficult. Gov. Wes Moore has also prioritized replacing or revitalizing vacant properties in Baltimore. The governor signed an executive order last fall to create a 'Reinvest Baltimore' program to coordinate the transformation of 5,000 vacant units into owned homes or other 'positive outcomes' within the next five years. Moore is also working to expand affordable housing across the state, especially near transit hubs. However, Scott and Moore's housing plans to encourage more people to move to Baltimore could be impacted by planned federal cuts to housing programs. This includes significant cuts to Section 8 and other federal rental assistance programs, proposed as part of a major Republican tax and spending bill being considered by Congress. Day said he is concerned about the proposed cuts to housing-related programs, but added that because there are state and city resources investing in housing in the area, the cuts would likely impact Baltimore City less than other areas of the country. 'It will affect all housing, it's going to affect every jurisdiction,' Day said. 'Baltimore might actually be in a slightly more advantageous position to other places given the investment that we're trying to make here.' There are also concerns about how these developments will impact the makeup of Baltimore and whether they will lead to the gentrification of neighborhoods. Scott downplayed these concerns when asked by The Baltimore Sun and pointed to the developers of the Broadway East neighborhood development, who are from Baltimore. The mayor said that these housing projects, which replace vacant units, have already led to families moving back to the city. _____
Yahoo
7 days ago
- Business
- Yahoo
Mayor Brandon Scott, Gov. Wes Moore make progress on housing, but hurdles remain
Baltimore Mayor Brandon Scott's plan to build new housing to replace vacant units is making progress, but some hurdles remain. Maryland and Baltimore are racing to confront a deepening housing crisis—one defined by soaring rents, crumbling vacant properties, and a chronic shortage of affordable units. While state and city leaders have outlined bold, billion-dollar strategies to build, rehabilitate, and preserve housing, they face a maze of obstacles: budget shortfalls, bureaucratic delays, aging infrastructure, and the looming threat of federal funding cuts. For thousands of families, the stakes are immediate—stable housing hangs in the balance. As of this month, there are less than 13,000 vacant units in Baltimore City. This number has been steadily decreasing over the last five years, with more than 16,000 vacancies reported in January 2020. The city is on track to increase its rate of reducing the number of vacant units from 500 a year to 1,000 a year, Maryland Housing and Community Development Secretary Jake Day said. There's an opening for Baltimore to possibly help fill the housing shortage in Maryland, which sits at about 96,000 units. The Eager Park Partners' East Baltimore Development Project, which the mayor's office said is a part of the first new residential development in the Broadway East neighborhood in decades, broke ground during a Tuesday ceremony. The project plans to build 54 townhomes in place of once-vacant townhomes. 'It's made possible by the funding support from the state, from all our partners to make sure that we do not stop, that we keep building and we keep getting rid of vacants.' Scott said at the groundbreaking ceremony. This is the latest step towards building livable housing in Baltimore, where vacant units once were, as the city has seen many residents move outside of its limits in recent years. Last year was the first year since 2014 that the Baltimore population did not decrease. It grew by 754 residents. The mayor's plan to address vacant housing includes a 15-year plan to invest $3 billion in acquiring vacant properties and later rehabilitating the units or demolishing them to construct new housing. He has also made efforts to change some zoning laws that have made building high-density housing difficult. Gov. Wes Moore has also prioritized replacing or revitalizing vacant properties in Baltimore. The governor signed an executive order last fall to create a 'Reinvest Baltimore' program to coordinate the transformation of 5,000 vacant units into owned homes or other 'positive outcomes' within the next five years. Moore is also working to expand affordable housing across the state, especially near transit hubs. However, Scott and Moore's housing plans to encourage more people to move to Baltimore could be impacted by planned federal cuts to housing programs. This includes significant cuts to Section 8 and other federal rental assistance programs, proposed as part of a major Republican tax and spending bill being considered by Congress. Day said he is concerned about the proposed cuts to housing-related programs, but added that because there are state and city resources investing in housing in the area, the cuts would likely impact Baltimore City less than other areas of the country. 'I think you don't care': Baltimore City Council slams mayor for not sharing salary data U.S. is seeking release of man wrongly sent to El Salvador, but it's not Abrego Garcia, court records show Why Gov. Wes Moore is making a sales pitch to businesses in South Carolina Rep. Steny Hoyer faces challenge from young political newcomer Baltimore County Council votes against environmental fund financed by paper bag fee 'It will affect all housing, it's going to affect every jurisdiction,' Day said. 'Baltimore might actually be in a slightly more advantageous position to other places given the investment that we're trying to make here.' There are also concerns about how these developments will impact the makeup of Baltimore and whether they will lead to the gentrification of neighborhoods. Scott downplayed these concerns when asked by The Baltimore Sun and pointed to the developers of the Broadway East neighborhood development, who are from Baltimore. The mayor said that these housing projects, which replace vacant units, have already led to families moving back to the city. Have a news tip? Contact Katharine Wilson at kwilson@
CBS News
03-04-2025
- Business
- CBS News
Maryland opens $50 million application round for Baltimore Vacants Reinvestment Initiative
The Maryland Department of Housing and Community Development has launched an accelerated $50 million application round for the Baltimore Vacants Reinvestment Initiative (BVRI). The funding round will prioritize community-based development organizations that efficiently address properties with vacant building notices. "The changes to the Baltimore Vacants Reinvestment Initiative will forge a new path for revitalization and rehabilitation in the City of Baltimore," Governor Wes Moore said in a statement. "If we want to drive investment and growth, we need to address the vacancy problem in Baltimore and do it efficiently." The application process requires organizations to detail how many vacant properties they can rehabilitate if adequately funded. Projects may include property acquisition, stabilization, renovation, and demolition, emphasizing achieving "whole block outcomes" that reflect community priorities. The state plans to partner with the Maryland Community Investment Corporation to expedite payments to recipient organizations, with awards expected by July 1, 2025. The initiative is part of Reinvest Baltimore, established by executive order in October 2024, which aims to address at least 5,000 vacant properties by fiscal year 2029 through coordination between state, city, nonprofit, and corporate partners. The state has made several efforts to tackle its ongoing vacant housing crisis. In October 2024, Maryland Governor Wes Moore signed an executive order establishing the Reinvest Baltimore program, which combines city, state, and non-profit resources to help revitalize neighborhoods. Later, Moore announced a $50.8 million investment into the program to accelerate the rehabilitation of vacant properties. In June 2024, JPMorgan Chase, a company that has been in Baltimore for 130 years, announced an $8.5 million investment into the vacant home crisis, including $6 million for nonprofit organizations addressing the cause. Baltimore City also passed legislation to triple taxes on vacant homes beginning in 2026, escalating to quadruple rates if owners fail to act. In March of this year, Baltimore City Mayor Brandon Scott announced a new plan that would speed up the property development process in the city, while maintaining safety standards and community input. The plan includes a $3 billion investment and a new Director of Permitting and Development Services role within the mayor's office. The goal of the position is to eliminate bottlenecks in the property development process.
