Baltimore City’s investment real estate market is one that is rapidly changing and continues to grow in its immense potential for prospective investors. As a major metropolitan hub in the region with strong property affordability, Baltimore sustains its rise as a highly sought-after area for realty investment. Making smart investments means becoming knowledgeable about the area and where it is heading. To become better prepared to explore Baltimore investment realty, the expert team at Ben Frederick Realty has rounded up the news you need to know about that can have an effect on property investing going forward.
Maryland Congressional Members Add $2 Million in Federal Funding to Move Forward In Removing the “Highway to Nowhere”
In 1969, Baltimore City attempted to make an addition to Interstate 70 that went through West Baltimore. In the process, 971 homes and 62 businesses were destroyed, forcing 1500 residents to move elsewhere. Instead of connecting I-70 with I-95 as intended, construction ended in the early 1970s, leaving the project incomplete. Now, with the Biden Administration’s new infrastructure bill, U.S. Senators Ben Cardin and Chris Van Hollen look to use the funds to redevelop failed projects such as the Highway to Nowhere. As of now, the plan for redevelopment is unclear and several solutions have been proposed. Regardless of what the funds are used for, expect this area to experience revitalization in the near future as the highway is converted back to residential and commercial space.
Further Reading:
https://www.wypr.org/wypr-news/2021-09-16/searching-for-a-turn-around-on-the-highway-to-nowhere
An Oversupply of Discounted Office Buildings in Baltimore is Unlikely
Despite a recent report stating that Baltimore ranked among the nation’s top markets for troubled office asset loans, industry experts claim that an oversupply of discounted office properties coming to the market is still unlikely. While many investors would assume that these troubled loans would lead to an abundance of low-cost commercial office buildings due to the owners defaulting on their loans, it is still unclear if this is true or if there will be any interest from investors. As of the end of 2022, no discounted office spaces of note have been sold within the city. This is likely due to uncertainty among investors of future demand for foreclosed commercial real estate in Baltimore City. As 2023 continues, the fate of these commercial office buildings, as well as their value as an asset, will become more clear.
Further Reading
Developer David Bramble Looks To Revitalize Harborplace
Baltimore-based developer, David Bramble, looks to transform and revitalize Harborplace in an attempt to bring more visitors back to the city’s core. When Harborplace completed its construction in 1980, the area quickly became a jewel of downtown Baltimore with its retail and dining pavilions serving as a major draw to the bayside community. Since then, its previous two owners have fallen short of their promises and have allowed the area to gradually go downhill. Now, with commercial vacancies and a declining reputation, Harborplace is in desperate need of relief and David Bramble hopes to instill a solution. His design process will incorporate active input from the local community to build a central hub everyone can enjoy.
Further Reading
Investors in Turkey Look to Buy into Baltimore
A Miami-based firm is currently buying properties in Baltimore City and selling them to real estate investors in Turkey. Property Invest USA is one of several companies that are selling homes in distressed Baltimore neighborhoods with the promise of cash-generating rental properties. Turkey, in particular, is experiencing record-high housing costs paired with inflation, which makes investing in Turkish real estate a venture with low prospects. Instead, these investors look to Baltimore homes, which Property Invest USA CEO, Cengiz Bayirili says have “the highest yields in the U.S”. Since Property Invest USA began providing investment opportunities in Baltimore, they have purchased over 200 homes for investors in the past four years. They purchase the properties themselves and sell the internationally at a higher price. Together, the company is reported to have bought at least $10.4 million worth of Baltimore homes and has sold them for roughly $20.4 million.
Further Reading
Professional Real Estate Investment
If you are interested in getting in on the massive investment potential within Baltimore investment realty, the team at Ben Frederick Realty is here to help. Our investment real estate professionals find real estate in Baltimore that would make a profitable addition to your investment portfolio as well as provide comprehensive guidance on how to maximize the benefits of your asset. If you want an edge on the competition when investing in Baltimore real estate, call or contact Ben Frederick Realty today to get started.
