Maryland awards revitalization tax credits to 10 historic buildings
Nov 18, 2024
Ten Maryland historic buildings will be revitalized with millions of dollars worth of investment, Gov. Wes Moore announced.Moore announced $20 million in tax credits through the Maryland Historical Trust, as well as more than $108 million in additional investment.“Our history is our power. And in Maryland, we don’t just cherish our state’s heritage, we also recognize that preserving history can help drive economic growth and make our state more competitive,” Moore said in a statement. “In partnership, we are taking under-used, historic properties and transforming them into new homes, studios, and hubs of community life.”Of this year’s awardees, five are located in Baltimore City, two in Baltimore County, two in Allegany County, and one in Carroll County.The 10 projects that received 2025 tax credits are:Liberty Trust Bank Building – 81 Baltimore Street, Cumberland, Allegany County
Second National Bank Building – 71 Baltimore Street, Cumberland, Allegany County
Building 51B/46C, Crown, Cork, and Seal Highlandtown Plant – 4401 Eastern Avenue, Baltimore City
Detrick & Harvey Machine Works – 508 East Preston Street, Baltimore City
Institute of Notre Dame – 901 Aisquith Street, Baltimore City
St. Luke’s Parish House – 222 North Carrollton Avenue, Baltimore City
The Mutual Benefit Society of Baltimore – 407-413 West Franklin Street, Baltimore City
605 Upland Road – 605 Upland Road, Pikesville, Baltimore County
Holly Hill – 13801 York Road, Cockeysville, Baltimore County
Hampstead School – 1211 North Main Street, Hampstead, Carroll CountyThe state received applications from 16 projects, seeking more than $38 million in tax credits. Those 16 construction projects would have totaled an estimated more than $236 million.Affordable housing is part of several of this year’s projects, including the Liberty Trust Bank Building, the Institute of Notre Dame, the Mutual Benefit Society of Baltimore, and a former private home at 605 Upland Road.“The adaptive reuse of these historic places reflects the MDP’s whole systems approach for sustainable growth,” said Maryland Department of Planning Secretary Rebecca Flora, AICP, in a statement. “We’re prioritizing state investment in projects within established population centers.’”The Historic Revitalization Tax Credit program has invested more than $498 million to rehabilitate Maryland projects since 1996, including 5,659 homeowner properties and 872 commercial historic structures.The program helped create an estimated 24,460 jobs, a 2020 study by the Abell Foundation found.Photos and additional information about the projects are available here.