Due to changes in industry and local economies, it is very possible for a thriving city to suddenly find themselves struggling financially. In many cases this can lead to a significant reduction in population, which will lead to a large amount of home vacancies. One city that has struggled with this in recent years has been Baltimore,Maryland. Baltimore has had some economic struggles, several different groups have formed companies that have helped to give the city a chance to thrive.
One individual businessman that has taken various steps to help Baltimore is Kevin Seawright. Kevin Seawright is a real estate investor and businessman that has spent his career working in various real estate focused roles in both the private a public sectors. His latest venture, RPS Solutions is looking to find ways to provide affordable housing solutions.
Kevin Seawright will be the principal of RPS Solutions, which is a joint venture that has raised a significant amount of private capital. The new joint venture will focus on acquiring and redeveloping vacant properties throughout Baltimore. These vacant properties will then be converted into livable real estate that will be used to provide citizens with an affordable housing solutions.
Kevin Seawright was recently interviewed by a local radio station and stated that his ultimate goal is to increase the home ownership rate in Baltimore. To do this he is reserving a portion on the assets that will be sold to qualified first time home buyers. The balance of the units that are not sold will be held as affordable housing units for renters. In most cases the units will be able to take advantage of local and state affordable housing programs.