“More Than 5,000 Units of Blight Eliminated In Baltimore City Launches First Phase of Redevelopment Plan for Historic Perkins-Somerset-Oldtown Neighborhood
“ANNAPOLIS, MD (August 30, 2021) – Governor Larry Hogan today marked the milestone of 5,000 units of blight eliminated through Project C.O.R.E. (Creating Opportunities for Renewal and Enterprise) with the demolition of the last building of Perkins Homes in Baltimore City. Project C.O.R.E.—a city-state partnership—was launched in 2016 to remove vacant or blighted properties and encourage revitalization.
“To date, Project C.O.R.E. has awarded nearly $119 million in state funding for blight removal and redevelopment in Baltimore City through the Maryland Department of Housing and Community Development and the Maryland Stadium Authority. Over $2 billion in public and private sector investment has been leveraged for community redevelopment projects.
““Today’s demolition is the latest effort in our transformative Project C.O.R.E. initiative, which has now eliminated more than 5,000 blighted units from Baltimore,” said Governor Hogan. “The State of Maryland has committed nearly $230 million for this important redevelopment effort, and Project C.O.R.E. has enabled us to leverage over $2 billion in public and private sector investment in Baltimore City community redevelopment projects. These investments are about taking our communities back and renewing hope and opportunities, and that’s exactly what we are doing here today.””
One of two aging U.S. Department of Housing and Urban Development (HUD) public housing complexes managed by the Housing Authority of Baltimore City, Perkins Homes and the nearby Somerset Homes are being demolished in the first phase of a comprehensive transformation plan for the neighborhood to make way for a new, mixed-income apartment community. The State of Maryland has committed nearly $230 million for the redevelopment of Perkins Homes and Somerset Homes through Project C.O.R.E., rental financing programs, and estimated federal Low Income Housing Tax Credit equity.
When all phases of the housing redevelopment are complete, the project will create nearly 1,350 new, high quality, energy-efficient rental units. Approximately two-thirds of the available units, including all of the units from Perkins Homes and Somerset Homes, will be reserved as affordable housing. The remaining units will be available at market rate with the goal of creating a vibrant, mixed-income community.
The revitalization of the Perkins-Somerset-Oldtown community is also supported by a $30 million Choice Neighborhoods Initiative grant from HUD, managed by the Housing Authority of Baltimore City. In addition to affordable housing development, the Perkins-Somerset-Oldtown transformation plan includes: a new school; parks and recreation space; infrastructure improvement; shared community space, and crime reduction and safety initiatives.
For more information about Project C.O.R.E. and the State of Maryland’s rental housing programs, visit http://dhcd.maryland.gov