Maryland invests $20 million in historic revitalization

ANNAPOLIS, MD— Governor Wes Moore has announced the awarding of $20 million in historic revitalization tax credits through the Maryland Historical Trust. The funding will support 10 projects totaling more than $236 million in estimated costs, including affordable housing, makerspaces, and community facilities.

Moore emphasized the importance of preserving Maryland's history. Moore declared, "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. In partnership, we are taking under-used, historic properties and transforming them into new homes, studios, and hubs of community life."

The Maryland Historical Trust has overseen the Historic Revitalization Tax Credit program since 1996, investing more than $498 million in Maryland rehabilitation projects. These investments have resulted in improvements to 5,659 residential properties and 872 commercial historic structures.

A 2020 study by the Abell Foundation found that the program has created an estimated 24,460 jobs through the construction and adaptive reuse of significant historic resources.

The program aligns with the Maryland Department of Planning's (MDP) strategy for sustainable growth. "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. "We're prioritizing state investment in projects within established population centers."

The $20 million in tax credits will leverage more than $108 million in additional investment, according to the governor's office. The projects include affordable housing, makerspaces, and facilities that serve communities.

The Maryland Historical Trust selected the 10 projects based on a set of established criteria, including those outlined by the U.S. Secretary of the Interior's Standards for the Treatment of Historic Properties.

Several of the selected projects include affordable housing elements, creating a variety of living spaces. These projects include the Liberty Trust Bank Building in Allegany County, the Institute of Notre Dame, and the Mutual Benefit Society of Baltimore (all located in Baltimore City), and a former private home at 605 Upland Road in Baltimore County.

The following projects have been awarded historic revitalization tax credits:

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

Additional details and photos of each project are available online .