The Maryland Department of Housing and Community Development has announced the second application round of the Catalytic Revitalization Tax Credit program, which is designed to rehabilitate properties formerly owned by the government for economic and community development purposes. Eligible applicants can apply for the up to $15 million tax credit. “By bridging the funding gap […]
Real Estate
Posted inBusiness News
Laurel industrial park sells for $11M
The Baltimore office of Marcus & Millichap has sold Minnick Industrial Park, which is located at 5200 Minnick Road, Laurel. The 81,134-square-foot, multi-tenant industrial park sits on 6.73 acres with heavy industrial zoning; it is fully occupied by 13 tenants, most of which are long-term, with rent rates substantially lower than the market average. The […]
Posted inReal Estate
Howard home prices continue to rise
In August 2022, Howard County home sales continued to be strong despite more price increases and a cooling market, according to the Howard County Association of REALTORS. Low inventory has led to continued price growth in the Baltimore region, however, prices were up the fastest in Howard, where the median price was $542,000, representing an […]
Posted inNonprofit
ECD closes on financing, will redevelop Roslyn Rise
Enterprise Community Development closed on construction financing for Roslyn Rise, in Columbia. Roslyn Rise represents the first portion of a multiphase redevelopment project on a housing community originally built during the 1960s. Upon completion, Roslyn Rise will feature 153 households in a modern, amenity-rich, accessible and sustainable mixed-income community. The Roslyn Rise redevelopment represents ECD’s […]
Posted inHoward County
Expanded housing inventory slows price increases in Howard 
As prices rise throughout the region, they are increasing at a slower rate, especially in Howard County, where prices increased the least according to the Howard County Association of REALTORS. All local markets in metro Baltimore are experiencing a decline in home sales, with Howard experiencing the greatest decline year-over-year. Active listings in Howard County […]
Posted inBusiness News
More than 2.7M square feet of industrial leases in metro Baltimore 
More than 2.7 million square feet of industrial/warehouse space was leased in the greater Baltimore metropolitan region, nearly replicating the nearly 2.6 million square feet of space leased in first quarter 2022, according to a report recently released by Lee & Associates | Maryland. These figures add to the approximately 15 million square feet of […]
Posted inHoward County
Columbia office vacancy ticks up in second quarter
Although nearly 350,000 square feet of commercial office space was leased in the second quarter of 2022, the overall vacancy rate in the Columbia area ticked up slightly to 13.2 percent, after finishing the first quarter at 12.7 percent, according to the latest market report released by Lee & Associates | Maryland. Negative net absorption […]
Posted inEconomy
Low housing inventory continues in Howard
Despite an increase in active listings, housing inventory remains very low in Howard County, according to the Howard County Association of REALTORS. Active listings in Howard County during the month of June 2022, were up 8.4 percent (309) compared to the previous year (285). New residential listings (611) saw a 2.4 percent decrease compared to […]
Posted inHoward County
HCAR CEO accepts new position in California
The Howard County Association of REALTORS announced that Jessica Coates, CEO of HCAR, has accepted a new position as CEO of the Sacramento Association of REALTORS. She will remain CEO of HCAR through July 31. Coates has been the CEO of HCAR since 2018. Among her accomplishments are expansion of and focus on diversity, equity, […]
Posted inAnne Arundel County
Arundel selects Michaels for 7409 B&A Boulevard redevelopment
Anne Arundel County has selected The Michaels Organization to redevelop 13 acres of county-owned, underutilized industrial property located in Glen Burnie at 7409 Baltimore-Annapolis Boulevard. The project will include a mix of apartments, lofts and townhomes, as well as commercial space. The selection of Michaels through the Request for Proposal process builds on the collaboration […]