There are so many incredible projects going on in Baltimore including huge mixed use and residential projects, long awaited industrial developments, as well as a major inflection point in one of the biggest projects in the region.
Development Updates in Baltimore
Perhaps the biggest development story in Baltimore right now is surrounding the massive Port Covington project and its somewhat uncertain future. Weller Development has been replaced as the master developer of Port Covington at the request of the two main investors, Goldman Sachs Urban Investment Group and Kevin Plank, the founder of Under Armor. MAG Partners from New York and Macfarlane Partners from San Francisco will be taking over the project with a focus on marketing and leasing the project because as of now, no retail or office leases have been signed. This $5.5 billion development has had challenges and was able to endure the pandemic and hopefully this next chapter will breathe new life into this amazing project.
The former site of the Bainbridge Naval Training Center has been a long awaited redevelopment site which is finally getting underway with two huge e-commerce warehouses as the first phase of this $300 million project. This project is being developed by Baltimore developer MRP Industrial as well as Hillwood, a Texas based REIT. Demand for industrial space such as this project is soaring and the article mentions that MRP has a pipeline of 12 million square feet of development in the mid-Atlantic region.
AvalonBay Communities has recently released plans for a 380 unit development in the Brewers Hill neighborhood. Following a presentation on the schematic design, the city’s UDAAP requested that they rethink portions of the building that are too big in some areas before they reconvene in a couple months. Even if some parts of this project shrink, this is still an excellent project in a growing neighborhood.
Beatty Development and Armada Hoffler have started work on a site which they have officially branded as Allied | Harbor Point. This is a reference to Allied Chemical which processed chromium ore on the site for 130 years before being torn down in the 1980’s. This development will have two towers with 250 residential units each, a 1,250 space parking garage, and 152 hotel rooms.
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Maryland Digest