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Housing Vacancy and Community Redevelopment

Housing vacancy constrains economic growth and stunts the revitalization of local neighborhoods. Working with the Mayor’s Office, State of Maryland and the nonprofit Baltimoreans United In Leadership Development (BUILD), GBC is part of a landmark agreement to aggressively combat Baltimore City’s vacant and abandoned properties over the next 15 years. 

Addressing Baltimore’s vacant housing crisis is about restoring hope and opportunity in our communities. Through my role with GBC’s Vacant Housing Committee and at Associated Black Charities, I’ve seen how collective action turns long-standing challenges into real progress. GBC’s role in convening diverse voices and building consensus is moving Baltimore forward.

—Chrissy Thornton Co-Chair Vacant Housing Committee, President and CEO - Associated Black Charities

A Historic Committment

In July 2023, GBC partnered with the Mayor’s Office and Baltimoreans United in Leadership Development (BUILD) to tackle Baltimore’s vacant housing crisis. The agreement called for public investment of $3 billion over 15 years – and billions more in private capital – to revitalize more than 37,000 vacant or at-risk properties, tipping market conditions for private development across an additional 33,000 houses and lots. This public-private collaboration was informed by an analysis by Public Financial Management, which that concluded that employing a “whole blocks, whole neighborhoods” strategy would ensure the effort pays for itself over time through increased local and state tax revenues.

Reinvest Baltimore Commits State Support

In October 2024, GBC joined Governor Wes Moore and state and local officials for the signing of an executive order to establish Reinvest Baltimore, a coordinated effort between the public sector and civic partners to eliminate 5,000 vacant Baltimore homes in five years, with a commitment of $900 million in state funding. GBC has played a central role in advocating for that support, championing the increase of Project C.O.R.E. funding along with several new state structures and initiatives designed to help high-need communities across the region and the state. GBC’s CEO sits on the Baltimore Vacants Reinvestment Council – created as part of the executive order – and co-chairs the Council’s Finance Committee.

Charting the Way Forward

Today, GBC is leading the effort to leverage the $1.2 billion in public investment commitments made to date with $5 billion in private sector financing, making this one of the most ambitious housing redevelopment programs in the nation. GBC and its partners aim to mobilize a portion of this private capital through a structured set of investment vehicles that align with both market realities and public priorities.

 

Relevant Media Coverage

Baltimore Advances Multi-Billion Dollar Housing Redevelopment Program
PR Newswire

Amid a growing national housing shortage, Baltimore is leading the nation’s most ambitious housing redevelopment program – supported by $1.2 billion in public investment commitments – and is aiming to leverage an additional $5 billion in private-sector financing, according to the Greater Baltimore Committee (GBC).

The People Betting on a Baltimore Comeback
The Wall Street Journal

For years, a housing-and-retail complex northwest of downtown was so crime-plagued it was dubbed the “Murder Mall.” Today, Ashleigh Choi Cross and John Cross are living at that location in a brand-new $400,000 townhouse. Read More.

Baltimore Takes a Gamble to Reverse Decades of Neglect
The New York Times

In the “birthplace of redlining,” an ambitious plan to promote homeownership and restore neighborhoods plagued by vacant houses is taking hold. Read More.

MD Department of Housing and Community Development announces $50 million to address Baltimore vacants
WEAA-FM

The Maryland Department of Housing and Community Development has accelerated the rollout of an initiative to address Baltimore City’s vacant property problems. Listen to Segment.

Maryland opens $50 million application round for Baltimore Vacants Reinvestment Initiative
WJZ-TV

The Maryland Department of Housing and Community Development has launched an accelerated $50 million application round for the Baltimore Vacants Reinvestment Initiative (BVRI). Watch Video.

‘Scale and speed’: State wants to fast-track redeveloping Baltimore’s vacants
The Baltimore Banner

Six months ago, Maryland Gov. Wes Moore packed into a crowded multipurpose room at a West Baltimore community center and set an ambitious goal: knocking 5,000 vacant homes off the city’s tally in five years. Read More.

$50 million initiative aims to improve Baltimore's vacant property problem
WMAR-2

It’s a major step towards combating Baltimore’s vacant housing crisis. After months of planning, officials are speeding up revitalization efforts. Maryland’s Housing Secretary approved $50 million for developers starting on July 1, 2025. Watch Video.

City, state to spend $50 million this year rehabbing Baltimore’s vacants
The Baltimore Sun

At Gold Street Park Wednesday, standing in front of a recently renovated block of rowhomes with still-vacant rowhomes in the distance — their windows covered by plywood and doors blocked off by chain-link fencing — city, state and local leaders gathered to share a message of hope for Baltimore City’s vacant homes: We can fix this. Read More.

Tackling vacants, block by block
The Daily Record

Two years ago, an email arrived in my inbox. It contained some thoughtful ideas put together by Joseph “Joe” Meyerhoff II about Baltimore City’s perpetual vacant housing inventory and how to do something about it. Read More.

Baltimore saw construction activity in nearly every part of the city in 2024
Baltimore Fishbowl

What constitutes a Renaissance and is Baltimore having one? Colin Tarbert, president and CEO of the Baltimore Development Corp. (BDC), says he doesn’t like to overuse the term when speaking about planning and construction activity in the city, but he can see why people might think the city is experiencing one. Read More.

Moore promises to eliminate 5,000 vacant Baltimore houses in 5 years
WYPR-FM

Baltimore has more than 13,000 vacant and abandoned houses and buildings, a number that officials say has barely budged in decades. On Tuesday, state and local leaders announced a new initiative to redevelop those buildings. Listen to Segment.

New program aims to tackle Baltimore's vacant housing challenges
WJZ-TV

Governor Wes Moore has signed an executive order establishing the Reinvest Baltimore program, a collaborative effort to tackle Baltimore’s longstanding issue with vacant properties. Watch Video.

Maryland governor launches initiative 'Reinvest Baltimore' to address vacant properties
WBAL-TV

State and city leadership converged Tuesday for a new plan that will address vacant properties in Baltimore a larger scale. Baltimore has more than 13,000 vacant structures and more than 20,000 vacant lots. Watch Video.

Special financing to rehab Baltimore vacants to be introduced to City Council
The Baltimore Sun

Legislation needed to create a first-of-its-kind tax zone aimed at rehabilitating thousands of vacant properties in Baltimore will be introduced to the Baltimore City Council on Monday, a crucial step in executing a $3 billion housing plan proposed by Mayor Brandon Scott. Read More.

Gov. Moore wants to eliminate 5,000 vacant Baltimore homes in 5 years
The Baltimore Banner

Gov. Wes Moore set a target Tuesday of eliminating 5,000 vacant Baltimore homes in five years, committing state support and making the issue an administration priority. Read Article.

Making change in Baltimore: A progress report on vacant housing
The AFRO-American Newspaper

It’s been a seven-decade streak of population loss and disinvestment for Baltimore’s neighborhoods.  The post-industrial headwinds that shook the economic foundation of America’s rust belt left a trail of abandoned industrial sites and brownfields, crumbling infrastructure and blighted communities from the Midwest states to the Black Butterfly of Baltimore. Read More.

Why JPMorgan Chase is betting on Baltimore
The Baltimore Banner

JPMorgan Chase is investing $8.45 million in nonprofit organizations and initiatives in Baltimore to help residents boost access to affordable homeownership and increase wealth among communities of color, the bank’s head of corporate responsibility said Tuesday. Read More.

Greater Baltimore Committee's first Black president & CEO helping write "next chapter" in the city's history
WMAR-TV

One of the major issues he and the GBC team plan to tackle is the heavy presence of vacant buildings in the city. “It becomes the image that people identify with Baltimore,” Thomas said. “That impacts whether a small business can get a loan, because people think you’re in an area that people don’t come to.” Watch Interview.

BUILD, Baltimore Mayor Brandon Scott and Greater Baltimore Committee partner to end vacant housing crisis
The AFRO News

On Dec. 11, Scott and the organizations’ leaders are set to host a public action meeting at Greater Harvest Baptist Church in Southwest Baltimore to update residents on their strategy to finance the rehabilitation of these homes. Read More.

Baltimore leaders propose ‘landmark’ $8 billion plan to confront vacant housing
The Baltimore Banner

A coalition of Baltimore faith and business leaders and Mayor Brandon Scott’s administration Monday unveiled an estimated $8 billion plan to revive thousands of vacant and abandoned homes funded by the city, state and private donors. Read More.

Baltimore's Vacant Properties Plan
The Baltimore Sun

Baltimore Mayor Brandon Scott unveiled an ambitious $3 billion plan Monday to attack the city’s thousands of vacant properties, promising to address a decades-old problem with funding from a newly created Tax Increment Financing zone and a yet-to-be-secured state investment. Read More.

Viewpoint: Why the GBC wants to tackle city's vacant housing issue
The Baltimore Business Journal

“Baltimore’s vacancy challenge is complex, and is an amalgamation of many economic and social issues. It is also a backdrop for other challenges,” GBC CEO Mark Anthony Thomas writes. Read More.

Committee plans to address city's vacant home crisis
WMAR-TV

There are more than 14,000 vacant homes in Baltimore. On Sunday, BUILD, the Greater Baltimore Committee, and Mayor Brandon Scott announced a joint effort to deal with the crisis. A steering committee will come up with a plan. Watch Video.

New GBC leader plans to mobilize business community to tackle Baltimore’s vacant housing crisis
The Baltimore Banner

The Greater Baltimore Committee, the area’s pro-business advocacy group, merged with the Economic Alliance of Greater Baltimore last year, condensing into one larger voice. It coincided with the departure of the GBC’s longtime leader, Donald C. Fry, who stepped down after nearly two decades at the helm. Mark Anthony Thomas, a newcomer to Baltimore with a fresh set of eyes, stepped in to replace him by the year’s end, eager to build a legacy. Read More.

Mayor, business and faith leaders say they’re uniting to attack Baltimore’s vacant housing crisis
The Baltimore Banner

A crowd of more than 500 people gathered before nightfall Sunday evening, their heads bent for an opening prayer at Memorial Baptist Church. They were urged to contemplate Baltimore City’s vacant housing crisis as they prepared to hear the details of a plan to work on ending it. Read More.

Greater Baltimore Committee developing new plan to deal with vacant homes
WMAR-TV

“When companies are making decisions, or when banks are making investment decisions for businesses they’re choosing to invest in, or when people are looking at a market at a hyper level, if you have population decline and blight, you’re already disadvantaged,” said Mark Anthony Thomas, President and CEO of the Greater Baltimore Committee. Watch Video.

Mayor Scott, city leaders renew push to end vacant and abandoned homes in Baltimore City
FOX45 News

There’s a new $7.5 billion proposed joint initiative in Baltimore City that seeks to turn around the long-standing issue of property vacancy and abandonment in the city. Watch Video.

Baltimore's vacant home crisis: Committee plans on obtaining billions to combat issue
WJZ News

A new initiative will bring together Baltimore leaders and faith organizations to help combat the city’s vacant home crisis. Baltimore Mayor Brandon Scott is partnering with organizations to build a steering committee together with a goal to get $7.5 billion to invest in vacant properties in Baltimore. Watch Video.

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