11-19-2024 4:50am

HISTORIC BLDGS.

Governor Moore Announces $20 Million in Tax Credits to Promote Revitalization of Historic Buildings

Governor Wes Moore announced $20 million in historic revitalization tax credits through the Maryland Historical Trust. Leveraging more than $108 million in additional investment, the 10 projects that received funding include affordable housing, makerspaces, and facilities that serve communities.

"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," said Gov. Moore. "In partnership, we are taking under-used, historic properties and transforming them into new homes, studios, and hubs of community life."

Since 1996, the Historic Revitalization Tax Credit program, administered by the Maryland Historic Trust, has invested more than $498 million in Maryland rehabilitation projects. These investments have helped improve 5,659 homeowner properties and 872 commercial historic structures, preserving buildings that contribute to the distinct character of Maryland’s towns, cities, and rural areas.

According to a 2020 study by the Abell Foundation, the historic revitalization tax credit program has helped to create an estimated 24,460 jobs through construction and reuse of significant historic resources.

“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. “We’re prioritizing state investment in projects within established population centers.’”

Sixteen applicants sought more than $38 million in tax credits for construction projects totaling more than $236 million in estimated costs. The 10 projects selected for the 2025 tax credits were based on an established set of criteria, including those outlined by the U.S. Secretary of the Interior’s Standards for the Treatment of Historic Properties.

Several of this year’s projects, including the Liberty Trust Bank Building in Allegany County, the Institute of Notre Dame and the Mutual Benefit Society of Baltimore (both of which are located in Baltimore City), and a former private home at 605 Upland Road in Baltimore County, include affordable housing components to create a variety of living spaces.

Award recipients include:

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 County

To view photos and learn more about each project, visit this link.