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Baltimore seeks $100 million more to fund stalled housing projects
The Greater Baltimore Committee is pushing for the extra $100 million after Maryland city and state officials already put $1.2 billion toward the effort, targeting about 11,800 vacant or abandoned houses and tens of thousands of vacant lots.
Maryland city and state officials are backing a plan to address urban decay in Baltimore, with the Greater Baltimore Committee seeking additional public funding for stalled housing redevelopment. Commercial Observer reports that the city and state have already provided $1.2 billion, and the GBC is asking for another $100 million through a “funders’ consortium.”
The GBC, led by President and CEO Mark Anthony Thomas, said the financing drive is intended to activate redevelopment of an estimated 11,800 vacant or abandoned houses, along with “tens of thousands” of vacant lots. Commercial Observer reports the effort adds up to a total of about 37,000 properties, according to the GBC.
In a statement, Thomas said the additional step is meant to help build private sector support to strengthen Baltimore neighborhoods. Commercial Observer reports the initiative is also aimed at creating collaboration opportunities for institutions looking to make an impact in the city.