BDC issues RFP for redevelopment of property

Maryland– Properties that are located in Baltimore’s Market Center National Historic District are for sale and development. The city is seeking a developer to buy and make over the following vacant properties:

-114 W. Lexington Street with land area of 1,793 square feet and a 3-story structure.

-116-120 W. Lexington Street with land area of 4,027 square feet and a 3-story structure.

-207-209 Park Ave. with land area of 912 square feet and a 4-story structure.

The Baltimore Development Corporation’s (BDC) request for proposals (RFP) states that respondents may bid on the entire offering or parcels on an individual basis, but redevelopment of all properties by a single team is preferred. The site is eligible for the 10-year High Performance Tax Credit for market-rate rental housing and is located within the city’s Enterprise Zone. The properties may also be eligible for the Commission for Historical and Architectural Preservation tax credit for historic rehabilitations and restorations, as well as for several state and federal tax credits. The BDC will hold a pre-proposal conference on-site at 114 W. Lexington Street at 10 a.m. on March 13.