City and Foundation Reach Development Deal
March 28, 2007 | Read Time: 1 minute
The long-stalled redevelopment of a blighted area of downtown Baltimore may move forward soon, with the expected announcement this week of an agreement between the Weinberg Foundation and the city, reports The Sun, in Baltimore.
The city had been moving to condemn the foundation-owned property, but the agreement would enable the two entities to swap portions of the land and give the city the title to parcels needed for redevelopment. The Baltimore foundation would retain property for its own development, the paper reports.
A development team selected two years ago for the project plans 400 to 500 apartments, 200,000 square feet of retail space, and parking.
