Hopkins expands homeownership program

September 30, 2008

A program that encourages Johns Hopkins employees to buy homes in certain Baltimore neighborhoods has been expanded, with the amount of the largest grants set at nearly seven times the previous cap. The "Live Near Your Work" program, which had offered up to $2,500 to help with down payments and closing costs, now offers up to $17,000, depending on the neighborhood. Much of the added funding comes from a grant from the Rouse Company Foundation.

Most employees of the Johns Hopkins University and Johns Hopkins Health System who work full time and are eligible for benefits can participate. Since 1997, with help from the city and state, the program has helped about 300 home buyers. Under revised guidelines, home purchases must be made near the Homewood campus or near Johns Hopkins Hospital.

"With about 45,000 employees, Johns Hopkins is Maryland's largest private employer," university President William Brody. "We represent an enormous and highly diverse pool of potential Baltimore City homeowners, and we hope many of our employees will choose to take advantage of this enhanced benefit."

To view the boundaries, go to www.jhu.edu/lnyw.