ANNAPOLIS, MD—Governor Larry Hogan on Monday announced that the Maryland Historical Trust (MHT), a division of the Maryland Department of Planning, has awarded eight projects more than $9 million in tax credits—leveraging more than $180 million in additional investment. The projects are expected to create more than 600 jobs.
“The Maryland Historic Revitalization Tax Credit is one of the most effective investment tools for strengthening Maryland’s local economies,” said Governor Hogan. “The projects awarded this year will bring hundreds of jobs, as well as new housing, commercial, and arts opportunities through the redevelopment of our communities.”
“Planning supports historic rehabilitation while advancing community revitalization and economic development,” said Planning Secretary Rob McCord. “This funding helps encourage preservation and adaptive re-use of historic buildings and enhances the enjoyment of our state’s history, while helping to breathe new life in our communities.”
Nineteen applicants sought $24 million in tax credits for construction projects totaling more than $235 million in estimated costs.
The eight projects selected for the tax credits were based on an established set of criteria, including those outlined by the U.S. Secretary of the Interior for historic building rehabilitation.
The eight award winners are:
- Glenn L. Martin Plant #2 / Middle River Depot – Eastern Boulevard, Baltimore County
- 1629 – 1631 Aliceanna Street – Aliceanna Street, Baltimore City
- Penn Station – North Charles Street, Baltimore City
- Strawbridge M.E. Church – Wilson Street, Baltimore City
- 3127 E. Baltimore Street – East Baltimore Street, Baltimore City
- 417 N. Howard Street – North Howard Street, Baltimore City
- 301-305 N. Howard Street – North Howard Street, Baltimore City
- Day Village – North Avondale Road, Baltimore County
Maryland-based developer Blue Ocean closed on its acquisition of Middle River Depot for an undisclosed sum back in September. At 1.9 million square feet, it represents Maryland’s largest industrial building.
Blue Ocean plans a rebranding and repositioning as a mixed-use project, with office, retail and recreational components along with industrial.
[Image via connect.media]