$700 Million in Demolitions and Redevelopment Announced for Baltimore
"[Maryland] Gov. Larry Hogan on Tuesday announced a nearly $700 million plan to tear down thousands of vacant buildings and replace them with new developments," report Luke Broadwater and Yvonne Wenger.
The announcement includes two components, according to the article. The first is Project C.O.R.E., which will create a partnership between the city and the state to spend $94 million to demolish 4,000 vacant properties. The state will find $75 million in demolitions and the city will add $19 million. The second is "$600 million in subsidies to encourage redevelopment."
Baltimore Mayor Stephanie Rawlings-Blake is quoted on the announcement describing the project as "demolition dollars on steroids." Gov. Hogan called the city's abandoned rowhouses "hotbeds for crime."
Hat tip to Kelsey E. Thomas for sharing news of the announcement.