The Maryland Department of Housing and Community Development has launched an accelerated $50 million application round for the Baltimore Vacants Reinvestment Initiative (BVRI).

The funding round will prioritize community-based development organizations that efficiently address properties with vacant building notices.

"The changes to the Baltimore Vacants Reinvestment Initiative will forge a new path for revitalization and rehabilitation in the City of Baltimore," Governor Wes Moore said in a statement. "If we want to drive investment and growth, we need to address the vacancy problem in Baltimore and do it efficiently."

The application process requires organizations to detail how many vacant properties they can rehabilitate if adequately funded. Projects may include property acquisition, stabilization, renovation, and demolition, emphasizing achieving "whole block outcomes" that reflect community priorities.

The state plans to partner with the Maryland Community Investment Corporation to expedite payments to recipient organizations, with awards expected by July 1, 2025.

The initiative is part of Reinvest Baltimore, established by executive order in October 2024, which aims to address at least 5,000 vacant properties by fiscal year 2029 through coordination between state, city, nonprofit, and corporate partners.

How Maryland is tackling a vacant housing crisis

The state has made several efforts to tackle its ongoing vacant housing crisis.

In October 2024, Maryland Governor Wes Moore signed an executive order establishing the Reinvest Baltimore program, which combines city, state, and non-profit resources to help revitalize neighborhoods.

Later, Moore announced a $50.8 million investment into the program to accelerate the rehabilitation of vacant properties.

In June 2024, JPMorgan Chase, a company that has been in Baltimore for 130 years, announced an $8.5 million investment into the vacant home crisis, including $6 million for nonprofit organizations addressing the cause.

Baltimore City also passed legislation to triple taxes on vacant homes beginning in 2026, escalating to quadruple rates if owners fail to act.

In March of this year, Baltimore City Mayor Brandon Scott announced a new plan that would speed up the property development process in the city, while maintaining safety standards and community input.

The plan includes a $3 billion investment and a new Director of Permitting and Development Services role within the mayor's office. The goal of the position is to eliminate bottlenecks in the property development process.