Johns Hopkins University will give dozens of its employees $36,000 grants toward buying a house in the East Baltimore Development Inc. development during a one-day sale on September 10.
The grant is available to most full-time benefit-eligible employees. The money can go toward buying one of the 42 houses near on 1700 block of Eager Street or renovated rowhouses located on Washington, McDonogh or Chester streets.
The grants, paid for by Johns Hopkins' "Live Near Your Work" program, is part of a larger effort to bring new life to the Towns at Eager Park development area, said Andy Frank, special adviser to Johns Hopkins University's president.
"We want to focus on building a large and diverse community," he said. "We really want to create excitement for this new area and want our employees to take advantage of it."
The new homes, three-story brick-front, one-car garage houses built by Ryan Homes, start at $260,000. Home buyers could get an additional $10,000 if the they use Ryan Homes mortgage loan company.
Johns Hopkins' website suggests home buyers to take advantage of a city tax credit for the first five years of ownership, which starts at 50 percent tax reduction.
Though Johns Hopkins has not said where the one day sale will take place, grants are on a first-come, first-serve basis.
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