Earlier this month, at Baltimore's CREW (Commercial Real Estate Women) Beacon Awards ceremony, our development team of Anath Ranon, Ethan Marchant, Allison McElheny, John Fricano, and our client Cross Street Partners were awarded the Community Impact award. This award recognizes real estate projects that transform the built environment and have the power to transform and revitalize a community, often beyond the boundaries of the project. The Community Impact Award honors a commercial real estate professional or team that played a pivotal role in a real estate project that was completed or achieved a significant measurable milestone in the last 24 months, and which had a significant and measurable positive impact on the community. Another aspect of this redevelopment project's success can be attributed to the Maryland Historic Tax Credit program.
“Without the historic tax credits, this building would have remained empty and abandoned. Its tenants would not be actively contributing to the renaissance of this neighborhood.” -Anath Ranon, Lion Brothers Building project Principal in Charge
The redevelopment has drawn a dynamic mix of tenants, including the University of Maryland, Baltimore County’s intermedia and digital arts program, the University of Maryland, Baltimore’s Graduate Research Innovation District (GRID); and a number of other businesses and organizations. For recommendations on how to determine whether your building is eligible for the historic tax program, how to apply, and how to ensure you receive the credits, download the guide here.