Port Covington Reaches a Key Milestone For TIF Issuance

Port Covington reached a key milestone at Baltimore City’s Board of Estimates on June 17 with approval of key documents that are an important step toward the issuance of TIF bonds to support the first phase infrastructure improvements. We are one step closer to delivering on the promise of this inclusive waterfront neighborhood, and all of the accompanying opportunities and community benefits!

The Port Covington Development Team reached terms with Baltimore City and the surrounding communities most significantly impacted for Community Benefits in 2016. Listed below are some of the development and community accomplishments since that time:

  • Master-planned 235 acres with up to 18M SF of mixed-use development. The plan includes 2.5 miles of waterfront and 40+ acres of parks and green space, and significant enhancements for transportation and access
  • Developed and opened City Garage, Sagamore Spirit Distillery and Rye Street Tavern
  • Completed mass grading and bulkhead work, in preparation for construction of the next five buildings (1.1M square feet including apartments, offices, retail, and parking, plus public spaces)
  • At the invitation of the original founding member communities, joined the South Baltimore 7 Coalition (SB7) to help identify community needs, provide technical assistance and fund local community initiatives
  • Advanced Community Impact initiatives focusing on workforce training, education, inclusionary housing, economic development, sports and recreation, with more than $10 million funded toward the Community Benefits Agreement
  • Created hundreds of jobs, connected thousands of job-seekers with business leaders and engaged thousands of students with academic and entrepreneurship opportunities, with more than $24 million awarded to MBE/WBE contractors
  • Held dozens of community events, many of which were free and open to the public, and supported families with meals, holiday gifts and hand sanitizer

We are planning an inclusionary neighborhood with something for everyone. Port Covington will be part of daily life for several thousand people who live and work here, and a destination that draws daily visitors for a wide variety of activities. We are designing more than 40 acres of incredible public spaces for people to enjoy a magnificent resource – the waterfront – and green spaces throughout the neighborhood.  The Port Covington Development Team brings its passion, energy and talent every day to advocate for Baltimore City and attract talented, innovative people who celebrate urban experiences.



Leave a Comment