However, many rehab projects never take-off, or stall for unforeseen difficulties-- owners can fall victim to a range of personal and business problems that delay or interrupt construction. We have seen them all.
Mayor Scott recently announced a thirty day study period by all departments of City Government. His stated goal is to immediately reduce the City's glut of vacant properties. To this end, the City's January 31, 2022 press release announces that:
As of January 28, 2022, there were 15,032 vacant houses in Baltimore City. About 13,560 of these vacant properties have private owners. Approximately one-third of the vacant buildings are already under a transformation: being rehabbed by a private owner; part of a larger redevelopment plan; in court under a vacant building receivership action; being prepared for demolition; or a City-owned vacant available for immediate sale to a qualified buyer ready to rehab. The Department of Housing and Community Development under Commissioner Alice Kennedy has ongoing initiatives in place to acquire and convert, stabilize or demolish these vacant houses. This directive aims to accelerate, expand, and enhance these processes and reduce the number of vacant homes in Baltimore City.
Young & Valkenet has represented owners, lenders, title insurers and contractors in all phases of Baltimore City receivership actions. We also represent adjoining neighbors who own property that has been damaged by the poor condition of a Baltimore City vacant.
