Homeowners in Anne Arundel County are spending anywhere between $11,722 and $97,689 on major remodels in 2020, according to Manta. Mellisa Maddox-Evans, executive director of HACA, said, “No one ever thought one of the challenges would be engaging in a massive redevelopment for Annapolis amid a national pandemic. However, Pennrose and the Housing Authority of the City of Annapolis have stepped up to keep the reconstruction of Annapolis’s most neglected public housing complexes project moving forward.”
On September 17, 2020, demolition on Newtowne 20 began, marking the first stage of rebuilding a project that has been derailed for years. In 2015, the state rejected tax credits required to complete reconstructions after a San Diego based developer made an application error. Last year, the state officials once again delayed the project when it rejected an application for a 9% housing tax credit. This year, several sources came forward to fund the redevelopment project, with 50% of the demolition costs funded through an award of $350,000 from the Maryland Department of Housing and Community Development. And it comes with a cost. Below are the cost factors you must consider before starting any redevelopment process.
Building Permits
Government authorities have imposed strict rules on property knock-downs and redevelopment, as they affect the community. To avoid problems with the local housing authorities, be sure to have proper legal representation. Even if you’re authorized to demolish and rebuild a home, familiarize yourself with the building permits and approvals, you need to start your project. This step will help you understand Annapolis’ and Anne Arundel County zoning rules and how much you’ll be spending on construction permits and fees.
Demolition Process
The cost of demolition is a crucial factor to consider when reconstructing a building. Remember, various factors will affect demolition pricing, including the property’s size and the cost of hiring professional demolition contractors. Don’t forgeth you still need to budget for construction equipment as well.
Construction
After clearing the construction site, think about the expenses of building housing units from the ground up. Factor in the price of materials, structural design, and interior decor when estimating your construction costs. Also, calculate labor costs depending on the size of the property. The demolition of residential property might be daunting, but you shouldn’t be discouraged.
With a little pre-construction planning and budgeting, you can achieve the best results. Start by understanding the demolition process, applying for building permits, and preparing a solid construction budget in advance.
