From SOuthBaltimOre.com– The Baltimore City Planning Department’s Planning Commission voted unanimously to approve the 260-acre Sagamore Development Master Plan last evening. This follows the recommendation by the staff of the Planning Department to approve the plan.
The plan includes Under Armour’s 50-acre, 3.9 million sq. ft. global headquarters; 1,500,000 sq. ft. of destination, attraction, entertainment and specialty retail; 500,000 sq. ft. of “maker” and industrial/light manufacturing space; 200-plus hotel rooms; 1,500,000 sq. ft. of office space (in addition to the Under Armour Global Headquarters); and civic and cultural uses including 40-plus acres of public parks, a public waterfront, and other public facilities. It also includes more than 7,500 residential units, which could total up to 14,000 units comprised of rental and for-sale properties at various price-points. Sagamore has a Memorandum of Understanding (MOU) with the city to provide affordable housing in 10% of the units. The plan also includes potential sites for a post office, school, library, fire station, police paddock, and cultural center.
Sagamore currently owns 161 acres of land in Port Covington, which it described as 85% of the private parcels in the area, from recent real estate acquisitions totaling $114 million.
For transportation and infrastructure Sagamore is planning a Light Rail spur from Westport; redevelopment of Hanover St., McComas St., and Cromwell St.; I-95 on-ramp and off-ramp modifications; pedestrian/bike bridges from South Baltimore and Westport; bike share stations; three water taxi stops; and a site circulator that could be rail or bus. This plan, which includes $534,795,000 in Tax Increment Financing (TIF) from Baltimore City, will still need to be approved by the Baltimore City Council and Mayor.
Read more at SouthBmore.com