Charm City Builders has been one of our Market Boost renovation partners since 2014. They recently completed another renovation, 109 Ventnor Terrace, that quickly went under contract. The 3 Bedroom, 2 bath home is located on a great block in the St. Helena neighborhood, one of our Focus Neighborhoods for investment. It is just steps from shops in the Historic Dundalk Town Center, a major bus line, and just a few blocks from the brand-new Dundalk Elementary (opening this Fall) and a dog park located in St. Helena Park. Is it any wonder that a renovated home in this location went so quickly?
The purpose of our Market Boost Partnership program is to encourage more developers to undertake high-quality renovations for sale for home ownership and work together with Dundalk Renaissance to:
- Increase the volume of renovated homes for sale in targeted neighborhoods so they can serve as comparables for each other when appraised.
- Boost appraised values so renovations for sale can be more easily supported by the private market in the future.
- Increase the inventory of quality renovations for sale in our current Focus neighborhoods (St. Helena, Graceland Park, Old Dundalk, Dun-Logan, and Turner Station) to offer more choice for home buyers.
- Incentivize home buyers to purchase a renovated home in the Focus Neighborhoods to help strengthen these neighborhoods and their real estate markets.
Since 2014, Dundalk Renaissance has completed more than 55 homes in partnership with small developers, with an average increase in post-rehab appraised value of $96,000 per house. Increased home values strengthen Baltimore County’s tax base, help build wealth for adjacent property owners, and add to the appeal and stability of Dundalk’s neighborhoods. Together with our Market Boost partners including Charm City, we are strengthening neighborhoods that feed into a new elementary school to capitalize on the excitement of that investment, and neighborhoods adjacent to our Town Center, so that we will also support a stronger commercial district.
This program is funded by the State of Maryland Department of Housing and Community Development Baltimore Regional Neighborhood Initiative. You can learn more by contacting our Housing Initiatives Manager, Tasha Gresham-James or 410 282-0261 x 102.