Somerset’s newest residential property in Baltimore, The Hammond at Greenmount Park, was pleased to have recently hosted a Maryland Department of Housing and Community Development meeting on July 1, 2026.

At this meeting, DHCD Secretary Jake Day announced two new homeowner incentives for Baltimore City properties that have been redeveloped using State funding. These incentives, which reduce mortgage rates and provide down payment assistance, encourage homebuyers to invest in Baltimore neighborhoods where strategic investment is creating momentum and long-term opportunity through Governor Wes Moore’s Reinvest Baltimore initiative. The Secretary also announced Fiscal Year 2027 awards through the Baltimore Vacants Reinvestment Initiative.

“Homeownership has always been one of the most powerful pathways to stability, wealth-building and generational prosperity. In Baltimore City, we’re making big investments in opportunities that will make the American dream of homeownership possible for more families,” said Secretary Day. “We’re also supporting the community organizations doing the work to create more homes and revitalize Baltimore’s vacant properties block by block. This coordinated strategy is fueled by strong partnerships and Governor Moore’s clear vision for the Reinvest Baltimore initiative.”

The newly-announced incentives are:

Reinvest Baltimore Rate Savings — to reduce mortgage rates to just 3.5 percent for eligible homebuyers purchasing select recently renovated homes through Healthy Neighborhoods’ Special Purchase Program.

Reinvest Baltimore Down Payment Assistance — offered by Neighborhood Housing Services of Baltimore, can provide up to $20,000 in down payment assistance for homebuyers interested in purchasing a home in neighborhoods across Baltimore where the State is prioritizing investment. Funds may be used for down payment or closing costs.

Additionally, the Secretary announced awards for the Fiscal Year 2027 accelerated round of the Baltimore Vacants Reinvestment Initiative. Twenty-five community-based development organizations were selected for the Fiscal Year 2027 round. Funding will support their proven strategies for renovating vacant buildings and strengthening neighborhoods within the program’s target areas. For a full list of awardees, visit Fiscal Year 2027 Baltimore Vacants Reinvestment Initiative Awardees.

As a new mixed-income property in the Johnston Square neighborhood of Baltimore, The Hammond is pleased to be able to play a role in supporting Maryland DHCD as they continue to create more residential opportunities for Baltimore residents and families and to invest in restoring and revitalizing neighborhoods.