14,000
Vacant Houses
& Structures
21,000
Vacant
Lots
34,300
Nearby At Risk Properties
$200 million
In Tax Dollars
Lost Annually
BUILD is calling for an investment of $7.5 billion in Baltimore's neighborhoods to end the crisis of vacant and abandoned homes in our city and to address the legacy of discriminatory housing policies and practices from redlining to today. This will require investing at least $2.5 billion in patient, public capital and will leverage another $4-5 billion in private capital.
This will create thousands of new, first-time homebuyers in Baltimore and $4.5 BILLION IN WEALTH for families in Black neighborhoods and neighborhoods impacted by disinvestment and vacancy.
THE SOLUTION
1
Investment at Scale
Over 15 years, we can invest $7.5 billion in Baltimore's neighborhoods ($2.5 billion in public money -- up to $200 million per year -- to leverage $4-5 billion in private capital).
This investment will reap enormous benefits: creating billions in wealth for current residents, investing in Black and minority-owned businesses and locally accountable CDCs, and rebuilding whole blocks and neighborhoods.
2
Use Special Purpose Entity to issue bonds, generate investment.
The only way to generate this scale of investment from public & private sources is to leverage a special purpose entity.
This entity would be locally accountable and could create intergovernmental agreements to ensure coordination of efforts to address vacant and abandoned homes across the city. State leadership will also need to be engaged in this process and work.
THIS YEAR
In 2023,
we can...
-
Act now in our neighborhoods to address issues.
-
Secure commitments from Mayor Scott & Gov. Moore to use a Special Purpose Entity.
-
Invest $100M in the Maryland State Budget to address vacant homes in Baltimore.
-
Expand In Rem Foreclosure.
-
Pass Sen. Hayes' legislation to address the appraisal gap in historically redlined communities.
We can fix this together.
In East Baltimore, BUILD & ReBUILD Metro have redeveloped 450 vacant units & properties without displacing residents. We have reduced vacancy by 85%, cut murders in half, and increased population by 45%. This work has created more than $50 million in wealth for existing homeowners. Throughout, these neighborhoods have remained more than 90% Black.
About BUILD
Founded in 1977, BUILD (Baltimoreans United In Leadership Development) is a non-partisan organization of more than 35 religious congregations, non-profits, and schools. We led the fights in Baltimore to pass the first living wage law in the country, to create the College Bound Foundation, Child First Authority, and Turnaround Tuesday, and to invest $1 billion to rebuild city schools.
We know how to lead & win tough fights. And this will be no different.
