CROWNSVILLE – The Maryland Department of Planning announced last week that the Maryland Historical Trust has awarded 10 projects totaling more than $20 million in historic revitalization tax credits, leveraging more than $84 million in additional investment.
The Historic Revitalization Tax Credit, administered by the Maryland Historical Trust, has invested more than $489 million in Maryland rehabilitation projects since 1996. The investments have helped make improvements to 5,484 homeowner and 849 commercial historic structures, preserving buildings that contribute to the distinct character of Maryland’s towns, cities and rural areas.
“Throughout Maryland, we are fortunate to have many historic buildings that are irreplaceable examples of great design and craftsmanship and a reflection of our roots that often provide communities with a unique sense of place,” said Maryland Department of Planning Secretary Rebecca Flora, AICP. “The revitalization and preservation of these historic places supports the revitalization of communities and provides environmental benefits through the reuse of existing structures and materials demonstrating the inherent value of structures that are built to evolve with the ever-changing world around us.”
According to a 2020 study by the Abell Foundation, the state program has helped to create an estimated 34,701 jobs through construction, and new or expanded occupation of these significant historic resources.
Eighteen applicants sought more than $55 million in tax credits for construction projects totaling more than $305 million in estimated costs. The 10 projects selected for the 2024 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.
Several of this year’s projects, including the Diamond Building in Allegany County, the Baltimore Greyhound Station, the National Enameling & Stamping Company, and the PS 101 – Paul Laurence Dunbar Elementary School Annex in Baltimore City, as well as the Harrington & Bayly Building in Cambridge, include housing components to create different types of living spaces.
The 10 award winners are: