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Media Advisory: Employees with $36,000 Incentives to Choose Eager Park Homes

September 8, 2016
CONTACT: Dennis O’Shea
Office: 443-997-9912 / Cell: 410-499-7460
@JHUnews

Note: Related promotional video here

When: 9:30 a.m. on Saturday, Sept. 10. (Selection order lottery starts shortly after 9:30 a.m. Participant check-in starts at 8 a.m.)

Where: Under a tent at 1050 Rutland Avenue (between Chase and Eager streets) in Eager Park. That’s the growing new neighborhood, formerly referred to as the EBDI project area, north of the Johns Hopkins East Baltimore Medical Campus.

What’s happening? Dozens of employees of the Johns Hopkins University and Johns Hopkins Health System are expected to claim Johns Hopkins incentives of $36,000 each toward down payment and closing costs for homes in the Eager Park neighborhood. On Saturday, they will participate in a lottery to determine selection order and then will meet with developers to choose their new homes. They will select from as many as 32 of the new townhouses being built in Eager Park by Ryan Homes and 10 newly renovated row homes offered by builders Emerging Developers, Tadesse and Associates Inc., and Tu Casa Development Group.

Details: Full-time, benefits-eligible Johns Hopkins employees can participate. To qualify for the one-day special $36,000 grant and for Saturday’s Eager Park home selection event, they must arrive with their Johns Hopkins identification, a certificate showing completion of homeownership counseling, a prequalification letter from a lender, and earnest money.

Background: Eager Park is an 88-acre area in East Baltimore being revitalized and redeveloped in a cooperative effort involving the federal, state and city governments, foundations, and other institutions, including Johns Hopkins. The neighborhood has attracted more than $1 billion of private and public investment since 2004, including a new community school, science and technology research facilities, a startup business accelerator, graduate student housing, a restaurant and – now under construction – a 194-room hotel and a new neighborhood park. More construction is underway right now than at any point in the revitalization project. With affordable and market rate rental and homeownership, Eager Park is among Baltimore’s more economically diverse neighborhoods. The neighborhood is poised for growth. An influx of additional owner-occupied housing will create more demand for retail, bring users to the new central park and create a true sense of community.

This one-time event for university and health system employees is part of the Johns Hopkins Live Near Your Work program. Since 2008, Johns Hopkins has paid out more than $5 million in LNYW grants to 587 employees purchasing homes near Johns Hopkins campuses in Baltimore. The $36,000 subsidy offered on Saturday is more than twice the $17,000 usually offered for buyers in Eager Park.

Should available homes sell out before all drawing participants can select one, a wait list will be created.

To cover this event: Contact Dennis O’Shea at 443-997-9912 (cell the day of the event: 410-499-7460) or dro@jhu.edu. Free parking is available at the Ashland Garage, 900 N. Washington St. at the corner of Ashland Avenue.

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