Investment in Hagerstown properties driving housing, commercial revival

HAGERSTOWN, Md. ( DC News Now ) — The City of Hagerstown is celebrating a new development downtown, which could signal a revival for some properties.

Over the past four years, more than $1 billion has been invested in residential and commercial development in Hagerstown. Emily Conrad, who works for the city, said she sees incentives driving a renaissance.

“The city provides a $50,000 reimbursement to developers who take a vacant commercial space from the ground floor to market condition,” said Conrad.

Officials said a vacant three-story structure on Franklin Street, now The Franklin, inspires future investment. Hagerstown city officials helped design and renovate The Franklin, a new residential and commercial building near city hall.

“We awarded a fire suppression system grant that helps offset the cost of keeping the building safe in case of fire,” said Conrad.

City leaders said projects like The Franklin will attract even more investment.

“It’s great for downtown,” says Paul Frey, president and C.E.O. of the Washington County Chamber of Commerce. “We want feet on the street! We want people going to the ball game and the restaurants and it is so convenient here.”

Mayor Tekesha Martinez celebrates the journey from permitting to construction. “We’re opening the building, and it says ‘invest here!” said Martinez.

“This project is such a good thing for the city,” says Councilman Peter Perini Sr. “Development like this is so good for neighborhoods, the entire city.”

Conrad noted that the five upper-floor housing units in The Franklin were leased within 30 days.

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