Reinvestment Fund is helping Historic East Baltimore Community Action Coalition (HEBAC) rehabilitate five vacant rowhomes in the Milton-Montford neighborhood of East Baltimore. These five homes are part of a larger public-private partnership to rebuild the neighborhood by eliminating vacant housing, upgrading existing housing and rebuilding the social fabric of the neighborhood.
Known as the Station East development, the larger effort includes demolition of homes adjacent to the rail line, creation of 40 to 50 fully renovated for-sale homes, exterior repairs of existing occupied units, creation of green space, new street landscaping and lighting, and organizing support to the neighborhood association.
Financed in part through the Baltimore Energy Initiative (BEI) and meeting high energy-efficiency standards, these completely rehabilitated homes will feature new roofs, windows, mechanical, electrical and plumbing systems, framing and flooring. In addition, project is leasing solar panels to each home, which will result in a roughly 10% savings on electricity prices for the homeowner. Upon completion, the homes will be eligible for a 10-year tax freeze at the pre-rehab value from the Commission for Historical and Architectural Preservation (CHAP), which is a significant benefit to home-buyers.
These homes are part of an effort to build a more mixed-income community in the area around Johns Hopkins Hospital. The target population will be university employees who will qualify for a Live Near Your Work grant of up to $36,000 for this neighborhood.