State Awards More Than $20 Million in Tax Credits to Revitalize Historic Buildings

Tax credits leverage projects expected to create more than 1,000 jobs.

The Maryland Department of Planning announced today that the Maryland Historical Trust (MHT) has awarded ten projects totaling more than $20 million in historic revitalization tax credits, leveraging more than $84 million in additional investment.

McCleave Building – Allegany County (photo courtesy of the Maryland Historical Trust)

“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 Historic Revitalization Tax Credit, administered by MHT, has invested more than $489 million in Maryland rehabilitation projects since it began in 1996. The investments have helped improve 5,484 homeowner and 849 historic commercial structures, preserving buildings that contribute to the distinct character of Maryland’s counties, towns, cities, and rural areas.

“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 built to evolve with the ever-changing world around us,” said Secretary Flora.

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.

This year, eighteen applicants sought over $55 million in tax credits for construction projects totaling more than $305 million in estimated costs. The ten projects selected for the 2024 tax credits were based on established criteria, including those outlined by the US Secretary of the Interior for historic building rehabilitations.

According to the Maryland Department of Planning:

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 (listed alphabetically by county and Baltimore City) are:

  • McCleave Building – 63-69 Baltimore Street, Cumberland, Allegany County
  • The Diamond Building – 43-53 East Main Street, Frostburg, Allegany County
  • Baltimore Greyhound Station – 601 North Howard Street, Baltimore City
  • Kaufman Fireproof Storage – 524 West Lafayette Street, Baltimore City
  • Mt. Royal Mansion – 2001 Park Avenue, Baltimore City
  • National Enameling & Stamping Co – 1901-1902 Light Street, Baltimore City
  • North Avenue Market – 10 West North Avenue, Baltimore City
  • PS 101 – Paul Laurence Dunbar Elementary School Annex – 500 North Caroline Street, Baltimore City
  • Harrington & Bayly Building – 444-448 Race Street, Cambridge, Dorchester County
  • The Johnson Building – 527 Poplar Street, Cambridge, Dorchester County

Visit the Maryland Department of Planning website for more information.