Hogan Administration Announces More than $9 Million in Tax Credits to Revitalize Historic Buildings
Tax Credits Leverage Projects Expected to Create More Than 700 Jobs
Crownsville, MD – The Hogan administration announced today that the Maryland Historical Trust (MHT), a division of the Maryland Department of Planning (Planning), has awarded seven projects more than $9 million in tax credits, leveraging more than $33 million in additional investment.
“The Historic Revitalization Tax Credit is yet another one of our effective investment tools for strengthening Maryland’s local economies,” said Governor Larry Hogan. “The seven projects awarded this year will bring new housing, commercial, and arts opportunities through redevelopment across Maryland.”
The Historic Revitalization Tax Credit, administered by MHT, has invested more than $412 million in Maryland rehabilitation projects since it began in 1996. The investments have helped make improvements to 5,075 homeowner and 772 commercial historic structures, preserving buildings that contribute to the distinct character of Maryland’s towns, cities, and rural areas.
According to a study by the Abell Foundation, the program has helped to create an estimated 29,898 jobs through construction and new or expanded occupation of these significant historic resources.
“Planning continues to support historic rehabilitation while advancing community revitalization and economic development,” said Planning Secretary Rob McCord. “This funding helps encourage preservation and adaptive re-use of historic buildings and enhances the enjoyment of our state’s history, culture, and scenic beauty.”
Eleven applicants sought $15.5 million in tax credits for construction projects totaling more than $70 million in estimated costs.
The seven projects selected for the 2021 tax credits were based on an established set of criteria, including those outlined by the U.S. Secretary of the Interior for historic building rehabilitations.
The award winners are:
– Baltimore Traction Company Car Barn – South Central Avenue, Baltimore City
– Eastern Pumping Station – East Oliver Street, Baltimore City
– P.S. 103 Henry Highland Garnet School – Division Street, Baltimore City
– Buckingham House and Industrial School Complex – Buckeystown Pike, Frederick County
– The Academy School – Mill Street, Dorchester County
– 110 – 116 N. Potomac Street – North Potomac Street, Washington County
– Stevens Smith & Co. Building – Race Street, Dorchester County
—–
The Academy School – Mill Street, Dorchester County
$250,000 Awarded
Estimated Total Cost – $1.25 Million
Built in 1903 by prominent builder and architect J. Benjamin Brown, this two-story colonial revival school is a fine example of early 20th century educational architecture. It is touted as the first fireproof school being constructed of solid brick with pre-cast stone features and a slate roof which replaced a Victorian frame structure on the same site that was consumed by fire. The building features an intact original slate roof, wood windows, entrance doors, curved window jambs and wainscotting, and its interior classroom layout which will be retained. Vacant since 2003, the school will be converted to residential use.
Stevens Smith & Co. Building – Race Street, Dorchester County
$280,000 Awarded
Estimated Total Cost – $1.4 Million
Located in the center of the Cambridge Historic District, Ward III, 421 Race Street is a significant example of 20th century commercial architecture in the commercial corridor along Race and Poplar streets in Cambridge. Despite previous alterations of the storefront, this building retains its signature coffered and metal pressed barrel-vaulted ceiling with decorative leaded glass transom, which served as the original entrance into the retail space of the building as well as its large double hung 2nd floor windows. A central feature of the project will include a complete restoration of the original facade, removing the modern storefront to expose the historic entry way, constructing a new storefront based on historical photographs, and recreating the highly articulated cornice. Now vacant, this building will retain its first-floor commercial use with residential use on the upper floor.
# # #
~ Maryland Historical Trust
