DHCD Announces Developer Opportunities in Park Heights - Three Property Bundles Available for Homeownership Outcomes
Tuesday Oct 31st, 2023
The Department of Housing & Community Development (DHCD) is seeking developers interested in rehabilitating properties along the 3400, 3600, and 4200 blocks of Park Heights Avenue. Three property bundles (totaling 14 properties) are being offered for homeownership outcomes. Applicants may apply for a single or multiple bundles (applicants cannot apply for individual properties within the bundle). The three bundles are:
The 14 properties are located within the Park Circle and Central Park Heights neighborhood, range in size from approximately 1,500 – 2,000 sq ft., and are zoned R-6. Properties are a mix of two-story, porch-front style rowhomes located at a key entryway into the Park Heights community. The spacious properties feature beautiful mature trees and sizeable rear yards. The buildings are currently vacant and will be sold in “as-is” condition.
Each property is eligible to receive up to $50,000 in appraisal gap funding through DHCD’s Developer Incentive Program. Eligible projects must be single-family projects for homeownership in the City’s designated Impact Investment Areas and serving households that earn no more than 80% of the HUD Area Median Income (AMI), as adjusted by household size.
Applications are due no later than November 30, 2023.
How To Apply
These bundles are being offered through DHCD’s BuyIntoBmore portal at http://buyintobmore.baltimorecity.gov/ . Once there, select Purchase City Property and "Bundle Sales" under Programs.
Applicant baseline requirements for consideration include:
- The applicant has $90,000 available for rehab per property.
- The applicant does not currently own vacant building inventory older than two years.
- Does the applicant own vacant building inventory for less than two years without a recent open/active permit?
- Does the applicant have open or pending criminal cases that might result in an inability to complete the project?
- The applicant does not have any open federal or state liens.
- The applicant does not have any open federal or state judgments.
Below are aerial images of the blocks with the properties being offered.