Neighborhood Watch

Baltimore Seeking Developers For Strip of 5 N. Howard Street Buildings

The Baltimore Development Corp. (BDC) continues its work to re-purpose blighted urban sites all over the city. There is now a request for proposal for redevelopment of 5 properties ranging from 407 – 415 N. Howard Street in West Baltimore. The deadline for bids is April 10, 2017.

The properties have been appraised in the past at a total value of $610,000 by the BDC and have been targeted in the past. Another developer last year bid $50,000 on a rejected proposal that was calling for the conversion of the properties to 32 apartments and street retail. This block is located in the historic Bromo Tower Arts & Entertainment District and is part of a Market Center National Register Historic District due to it being Baltimore’s original main downtown shopping area.

Large development projects have been attempted nearby in the recent past. A huge planned project called the Superblock failed back in 2012 due to a lack of funding and legal issues. That project called for 300+ apartments, 200,000 sq. ft. of retail and 650 parking spaces.

“This is a big chunk of Baltimore real estate — almost an entire block. We’ll be curious to see what happens with the bids and what type of project the BDC ends up with here,” said Gerard DiRuggiero, Principal Broker of UrbanLand Company. “There’s an opportunity here for a resourceful developer to aggressively transform these sites into a large project similar to what was attempted in the past.”

#FollowDevelopment on Twitter! Thanks to the BizJournals on the alert!


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