Cambridge, MD – Projects to revitalize historic downtown Hyattsville and to redevelop the historic Union Mills district in Baltimore were big winners at the annual conference of the Maryland Economic Development Association.
Arts District Hyattsville is a $213 million revitalization investment featuring new townhomes, multi-family homes, live-work homes, and leasable retail space, just two miles from DC. When complete, the trendsetting Arts District Hyattsville will feature retail shopping and over 500 new residences in a captivating mix of rowhomes and condominiums. DHCD and developers EYA and Streetsense won in the economic development category.
Working with Seawall Development, DHCD helped transform a recently vacated 19th century building that had once been a major cotton foundry into vibrant residences marketed to new teachers and office space marketed to nonprofit organizations that focus on strengthening communities. Utilizing L.E.E.D. Gold certified standards as part of the rehab development strategy Union Mill is the first redevelopment project in Baltimore to be certified under the city’s green building standards. The project won in the economic redevelopment category.
Arts District Hyattsville and Union Mills are examples of the O’Malley-Brown administration’s significant commitment to create jobs and stimulate the state’s economy by investing in Maryland’s historic neighborhoods. Last year, DHCD’s neighborhood revitalization programs invested nearly $30 million through its loan, tax credit and grant programs, leveraging another $270 million in other public and private investment.
MEDA is a nonprofit organization of economic development professionals established in 1961 to promote the economic well-being of Maryland. This year’s annual conference focused on innovation and entrepreneurship. DHCD won two of the organization’s three 2012 economic development awards.