The program will sell homes that are vacant; this has been a problem for decades, and even in 1970, the same measure was implemented.
Baltimore plans to sell boarded-up houses for $1, aiming to revive neighborhoods that have been plagued by crime and decay.
The program, backed by Mayor Brandon Scott, will offer more than 200 vacant city-owned properties to residents who agree to repair and live in them. A city board approved the measure on Wednesday.
Vacant housing has been a problem for decades in the Maryland city that has one of the highest crime rates in the United States, concentrated in a few high-poverty neighborhoods.
The measure evokes Baltimore's "dollar house" program of the 1970s, which offered properties for one dollar to settlers if they fixed them up. A similar effort has also been attempted in Newark, New Jersey.
In 2022, there were approximately 15,000 abandoned properties across Baltimore, according to the city. (Bloomberg)
Who is the sale of cheap houses in Baltimore aimed at?
Baltimore's program is intended to prioritize individual buyers over developers, who will have to pay $3,000 per house.
There are $50,000 home repair grants available to help with renovations, but recipients must have prior approval for a construction loan, according to Governing.com.
Some non-profit organizations urged the city to put up barriers against handing over most of the housing to developers, which could drive up prices and displace poor residents.
While the housing program focuses on a few hundred homes, in 2022 there were nearly 15,000 abandoned properties across Baltimore, according to the city. More properties may eventually be included.
Some of Baltimore's attractions include the Hippodrome Theatre, the F. Lewis Regional Museum of African American History and Culture, and the National Slavic Museum.
In 2012, one of the largest medical complexes in the United States, Johns Hopkins Hospital, was inaugurated, featuring the Sheikh Zayed Cardiovascular and Intensive Care Tower.
Source: https://www.elfinanciero.com.mx/.
