The Kevin Plank-backed development firm working on Port Covington reportedly reached a deal with the community on affordable housing, but not all nonprofits are onboard.
According to the Baltimore Business Journal, Sagamore Development set a Wednesday morning press conference to announce that 20 percent of the housing will be affordable housing. That would amount to 2,800 units on the South Baltimore peninsula that will be home to a new Under Armour campus and a veritable city-within-a-city.
It was billed as an agreement with community groups, but not all of those orgs are onboard. Around the same time the report came out on Friday, groups including People Organized for Responsible Transformation, Tax Subsidies and TIFs and Build Up Baltimore issued a statement saying that issues beyond affordable housing were not addressed.
“Unfortunately, Sagamore felt they had enough to claim victory without giving meaningful consideration to remaining issues such as a good jobs guarantee; inclusionary housing; sharing an estimated $1 billion profits with the taxpayers; or the possibility of City Schools losing millions of dollars in state funding,” Port3 co-chair Charly Carter said in a statement.
Beyond the Wednesday announcement, a City Council committee hearing to discuss Port Covington is set for Sept. 8 at the War Memorial building. An agreement could be formally signed there.
The community negotiations are related to the $535 billion TIF deal that Sagamore is seeking from the city for the project’s infrastructure. Scott Calvert has the latest national media breakdown of the historically huge project in the Wall Street Journal today.