South Baltimore Business Roundup

| November 21, 2016 | 0 Comments

Upgrades Planned for M&T Bank Stadium

The Ravens are planning more renovations to M&T Bank Stadium which is now 18-years-old. From The Baltimore Sun:

The stadium authority has already approved some of the renovations — including replacing the east and west video screens with larger boards, upgrading concessions spaces and adding a “ribbon board” encircling the upper level — that are to be completed during the coming offseason.

The football team and the authority are still discussing the other enhancements, which could come over the next three years. These include adding escalators and elevators, and building suites in each of the four corner notches of the upper bowl, according to a written agreement between the authority and the team.

Video boards would be installed above the corner suites. The gaps in the corners, which the team nicknamed “victory notches,” were a distinctive trait of the original stadium design, creating views of the city for fans.

The team would pay for the $110 million in improvements. This follows a $35 million investment in 2013 that included improvements to video boards, concession stands, and concourses. Over the last two off-seasons the Ravens also switched from artificial turf to grass and installed public WiFi in the stadium.

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Upgrades Coming to Oriole Park at Camden Yards

Oriole Park at Camden Yards is also receiving upgrades this off-season. From The Baltimore Sun:

The work includes demolition of the existing lighting system. The contract says the cost won’t exceed $1.67 million.

» Replacement of the heat trace system at the ballpark. The contract was signed in August with Ariosa and Co., a Maryland company. The cost is not to exceed $469,500.

The playing surface at Camden Yards is also being replaced — the first time since 2008 that the grass is being swapped out

New Retail at Light and Pratt

In partnership with Metropolitan Partnership Ltd., Corporate Office Properties Trust (COPT) is planning a new three-level, 23,000 sq. ft. retail and restaurant building at a city-owned property at Pratt and Light St. in front of the Transamerica Tower at 100 Light St., which is also owned by COPT.

COPT was selected to purchase the property after submitting an RFP to the Baltimore Development Corporation (BDC). From Baltimore Business Journal:

The plan by COPT (NYSE: OFC) and Metropolitan Partnership Ltd. to build a commercial, retail and restaurant development at the prime location with a rooftop deck that would overlook the busy downtown corridor. Metropolitan Partnership developed the converted 10 Light St. apartment tower.

COPT’s proposal for the bump-out development includes an offer to pay $400,000 for the 26,267-square-foot street-front space, BDC officials said, “or a mutually agreed upon appraisal” price.

Marriott Hotel Proposed for McHenry Row

At last week’s Urban Design & Architecture Review Panel (UDARP) hearing, McHenry Row developer 28 Walker revealed that the new proposed hotel would be a Marriott brand. The hotel is part of a new phase at McHenry Row that includes a six-story, 110,000 sq. ft. office building and the eight-story, 119-room hotel.

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Morgan Stanley Expands Downtown

Morgan Stanley announced Thursday it would be signing a second 69,000 sq. ft. lease at 100 S. Charles St. Downtown, in addition to its approximately 180,000 sq. ft. building in Harbor Point. It is planning to add 800 new employees over the next four years bringing the total Baltimore workforce to 1,800. From The Baltimore Sun:

In addition to its Harbor Point offices, the company is leasing about 69,000 square feet at 100 S. Charles Street — two floors — with the option to add more, said Abdi Mahamedi of New York-based Carlyle Development Group, which bought the property last year with plans for a major renovation that would orient the building to Pratt Street.

He said he expects Morgan Stanley to start moving in next fall.

The incentives for this expansion include a $4.5 million state grant, contingent on the company’s investing $10 million, hiring at least 800 people by 2020 and keeping those employees for at least five years, Glenn Hood said. The city is also providing a $500,000 loan that can be forgiven if the company meets hiring targets by 2020.

Lilly Madison Furniture Closing

Lilly Madison Furniture, which opened in Pigtown in April, announced it will close its 2,300 sq. ft. store on November 26th.

Movember Contest

Light Street Barbers at 1536 Light St. is getting into the Movember and No Shave November spirit with a beard and moustache competition on December 2nd at 6pm. The winner will receive two free haircuts.

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About the Author:

Creator of SouthBmore.com and resident of SoBo. Graduate of Towson University and owner of Incept Multimedia, a full service video production company. Diehard Ravens and O's fan, beach volleyball enthusiast, dog lover and "bar food" foodie. Email me at Kevin@InceptMM.com and follow me on Twitter at @SoBoKevin.
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