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Baltimore Housing to Take Vacants to Value to Coldstream - Homestead - Montebello

(Baltimore, MD – Tuesday, March 19, 2013) Today Baltimore Mayor Stephanie Rawlings-Blake and Housing Commissioner Paul Graziano joined elected officials, community leaders and Coldstream-Homestead-Montebello (CHM) residents to demolish 7 vacant, blighted and crime-ridden structures on the 2700 block of Tivoly Avenue.

Tivoly Avenue intersects E. 33rd St. near The Alameda has struggled with stability since the 1968 Baltimore riots, drugs in the 1980s and later predatory lending. Baltimore Housing has worked closely with the CHM Community Corporation to identify the sites for demolition. This blight elimination effort will improve the quality of life, security and safety for the surrounding neighborhood.

“Vacants to Value is working closely with our community partners to turn our neighborhoods around,” said Mayor Stephanie Rawlings-Blake. “Today is another step toward bringing the Coldstream-Homestead-Montebello community to it greatest strength in decades.”

“Coldstream-Homestead-Montebello is a strong community that has withstood a lot trials, but they don't waiver,” said Housing Commissioner Paul T. Graziano. “Removing this blight will create some much needed safety, security stability for the community.”

Launched in November of 2010, Mayor Rawlings-Blake's Vacants to Value initiative seeks to encourage reinvestment in neighborhoods impacted by blighted properties by strengthening code enforcement, promoting rehabilitation, streamlining the sale of vacant city property, and by providing new, targeted incentives for homebuyers and developers who invest in vacant properties.

Since its launch, Vacants to Value has produced impressive results:

  • Property sales have increased fivefold, from 100 in fiscal year 2010 to 524 in fiscal year 2012.
  • The City has issued more than 1000 citations, at a cost of $900, to vacant building owners who have failed to maintain their properties, spurring more than $47 million in private investment.
  • More than 1000 vacant properties have been rehabbed or are undergoing rehab.
  • 106 $10,000 Homeownership Booster Program incentives have been provided; 28% of these homeowners are new to the city.
  • City wide, nearly 600 vacants and blighted properties have been demolished

For more information about Vacants to Value, visit www.baltimorehousing.org.

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