REAL ESTATE DEVELOPMENT
ReBUILD Metro specializes in scattered-site single-family rehabilitation, but we also participate in new-construction single-family and multifamily projects. Our work benefits low- and moderate-income people and places by making innovative use of financing and subsidies to create quality rental housing and homeownership opportunities at affordable prices.
Our work blends market-based redevelopment and authentic community power-based organizing to achieve transformative regeneration in distressed neighborhoods. Our approach seeks to leveraging long-term debt by rehabilitating distressed properties, while supporting that investment through strengthening community equity, safety, and stability. These two prongs create a mutually-reinforcing virtuous cycle: strengthening this community secures housing investments, and a housing market is sustained with a strong and safe neighborhood around it.
To date, ReBUILD Metro has transformed nearly 200 scattered-site vacant buildings and lots into new housing units, with measurable effects on community revitalization. Our sustained investment in our East Baltimore target areas have achieved a sharply-decreased vacancy rate, broadly increased median sales prices, lower crime rates, and increased income diversity, all with no direct displacement of existing residents.
ReBUILD Metro also participates in more traditional affordable housing by partnering with experienced developers utilizing Low-Income Housing Tax Credits (LIHTC). These partnerships have created 500 affordable housing units in 6 communities in New Jersey, Delaware and Maryland.
In total ReBUILD Metro projects have invested more than $175 million in over 750 homes and apartments for low- and moderate-income people and places.
PATH TO OWN
Path to Own organizes cohorts of existing tenants seeking to improve their financial health and make homeownership an attainable goal. ReBUILD Metro partners with local homeownership counselors to provide homebuyer education classes, individual credit counseling, and financial planning. Path to Own is helping renters purchase their own home and continue putting down roots in their existing community.
PARKS AND OPEN SPACE
ReBUILD Metro’s early vacant lot strategy focused on building new homes to reduce vacancy and crime. As vacancy has decreased in our investment areas, we are increasingly focused on tapping the amenity value of open lots. In 2017, ReBUILD Metro partnered with KaBOOM! to bring a new playground to Baltimore’s Oliver neighborhood, culminating in a community build where the playground was assembled by neighborhood residents and volunteers in a single day. ReBUILD Metro has also engaged in planning, financing, and development of several other parks within our East Baltimore project areas.