New operating model preserves EBDI’s mission and community commitments while bringing additional capacity to complete East Baltimore’s next phase of redevelopment.

Baltimore, Md — East Baltimore Development, Inc. (EBDI) and Baltimore Development Corporation (BDC) today jointly announced a strategic alignment designed to build on more than two decades of investment and revitalization in East Baltimore and position the redevelopment for its next phase.

Under the new operating model, EBDI will remain a separate nonprofit organization and legal entity, while BDC will provide day-to-day operational management and administrative support beginning September 1. EBDI’s assets and revenues will remain dedicated to EBDI and its mission, and its existing development, neighborhood and community commitments will continue.

The transition to a new operating model comes as the East Baltimore TIF district continues to strengthen financially. Since the district was established, the taxable assessed value has grown from approximately $12.7 million to nearly $380 million, with approximately $200 million in additional assessed value associated with tax-exempt properties developed within the district. The district generated approximately $6.7 million in tax increment revenues in FY2026, with senior bond debt service fully covered. Accrued debt service on the subordinate bonds continues to decline and, following the September 2026 payment, approximately $1.17 million is expected to remain accrued. Based on current revenue performance, the district is projected to generate sufficient revenues in FY2027 to cover annual debt service without additional accrual on the subordinate bonds.

The alignment with BDC reflects the evolution of one of Baltimore’s most ambitious redevelopment initiatives. EBDI was established more than two decades ago to undertake redevelopment across 88 acres of East Baltimore at a scale the private market was not prepared to pursue on its own. With roughly 80% of the master plan now complete, the redevelopment is entering a new phase focused on completing the remaining work, sustaining community commitments and building on the investment already made.

“This moment is both a celebration of how far East Baltimore has come and an opportunity to prepare for what comes next,” said Cheryl Washington, President and CEO of East Baltimore Development, Inc. “EBDI was created with a bold vision, and the progress we celebrate today reflects the extraordinary commitment of residents, community leaders, our partners, and EBDI’s board and staff, past and present. Together, we have completed almost  80% of the master plan while honoring the commitments made to the East Baltimore community. With the project now entering its next phase, this is the right time to transition day-to-day management to BDC, bringing additional capacity and resources to complete the remaining work while preserving EBDI’s mission, assets and community commitments. We should be proud of what we have accomplished together and confident that the people and neighborhoods of East Baltimore will remain at the center of the work ahead.”

Over more than two decades, the initiative has navigated significant economic headwinds — including the Great Recession and COVID-19 — while generating approximately $1.8 billion in investment and helping transform the physical and economic landscape of East Baltimore.

EBDI and its partners have delivered more than 1 million square feet of commercial space, approximately 850 mixed-income housing units, significant new public infrastructure, the 5.5-acre Eager Park and the Henderson-Hopkins School, among other investments.

The redevelopment also required the relocation of approximately 750 households, one of the most difficult and controversial aspects of the initiative. Recognizing the significant disruption relocation created for families, EBDI and its partners developed a comprehensive responsible-relocation approach that provided enhanced financial benefits and dedicated family advocates to work with residents before, during and for up to five years after their move, connecting families to housing assistance, legal services, financial counseling, workforce support and other resources.

An independent survey of relocated families found that 90% were satisfied with their new homes and 83% considered themselves better off following relocation. The approach also produced significant gains in household wealth for many relocated homeowners, whose average home equity increased from approximately $29,000 to $153,000, creating substantially greater assets that families could retain and ultimately pass to future generations.

The transformation can also be seen in neighborhood indicators. The area’s population grew by 22% between 2009 and 2024, the first sustained period of such growth in at least a generation. During the same period, average annual income among Black residents more than doubled, from approximately $28,000 to $63,000, while the vacant housing rate in the EBDI area declined from 47% to 16%.

EBDI’s commitment to inclusive development has generated economic opportunity for residents and businesses. As of June 2026, 33.7% ($155.15 million) of $460 million in construction contracts were awarded to minority-owned businesses and 36% ($166.9 million) went to local businesses, exceeding established project goals.

EBDI’s workforce initiatives have helped connect local residents to jobs created through the redevelopment, with 32.9% of the 878,147.5 labor hours performed by Baltimore City workers, also exceeding established local hiring goals.

“East Baltimore has demonstrated what is possible when residents, institutions, philanthropy, government and the private sector unite around a shared vision,” said Otis Rolley III, President and CEO of the Baltimore Development Corporation. “This next chapter builds on that success by pairing EBDI’s deep neighborhood expertise and longstanding community relationships with BDC’s citywide economic-development capabilities. Together, we will strengthen our ability to attract investment, support residents and businesses, and ensure East Baltimore continues serving as a national model for equitable neighborhood revitalization and inclusive economic growth.”

“This next chapter is possible because of the foundation EBDI has built,” said Mayor Brandon M. Scott. “I want to personally thank Cheryl Washington and the entire EBDI team for their leadership, persistence and commitment to East Baltimore. Over more than two decades, EBDI and its partners have helped transform a community that had experienced generations of disinvestment while creating new opportunities for residents and businesses. Now our responsibility is to build on that progress, finish the work and honor the commitments we have made to the community.”

As part of the new governance structure, two community representatives will serve on the BDC EBDI Operations Committee, which will serve as EBDI’s governing board, ensuring that community perspectives remain directly represented in EBDI’s ongoing governance.

EBDI’s longstanding community commitments will also continue, including Opportunity to Return, Economic Inclusion and local hiring requirements. In addition, EBDI is preparing to launch a Community Reinvestment Fund later this year, with approximately $1 million currently dedicated to future community investment in the broader East Baltimore community.

Washington, who has been part of the East Baltimore redevelopment effort since 2004 and has served as EBDI President and CEO since 2018, will support an orderly transition of operations to BDC.

Current redevelopment projects, neighborhood initiatives and community investments will continue without interruption, including EBDI’s longstanding partnerships with residents, institutional stakeholders, government agencies, community organizations, developers, businesses and philanthropic partners.

Together, EBDI and BDC are building on more than two decades of progress to complete the remaining work, honor commitments to the East Baltimore community and create lasting economic opportunity for residents, businesses and future generations.