City of Takoma Park Receives Significant Grant Funds
Per the City of Takoma Park:
The Housing and Community Development Department announced today that Governor Hogan had awarded the City of Takoma Park significant grant funds as part of the National Capital Strategic Economic Development Fund (NCSEDF) initiative.
The first grant is a $500,000 Revitalization Award for the revitalization of 6530 and 6600 New Hampshire Avenue.
The revitalization project includes the acquisition and rehabilitation of the properties. The property at 6530 New Hampshire Ave, a highly visible but derelict 3-story commercial building, will become a state-of-the-art conference center and commercial-use building with new construction to create housing units. In partnership with a private developer, this multi-phase project will be the first mixed-use development of modern times in the City of Takoma Park.
The second award, a $500,00 Affordable Homeownership Opportunities Fund is for acquisition of properties to develop affordable homeownership opportunities and preserve a continuum of housing affordability in the City.