- Construction of Under Armour's new campus is already underway, with Plank slated to construct a whiskey distillery shortly.
- City hopes for Port Covington to include a mix of residential unit types.
- Redevelopment project's build out is at least 10 to 15 years.
A collection of various industrial land is slated to become Baltimore’s newest community in the next 10 to 15 years.
Earlier this month Kevin Plank, founder of Baltimore-based Under Armour, and his real estate arm Sagamore Development submitted plans to the city for a mixed-use waterfront development that would completely redevelop the metro’s Port Covington area.
“It’s a very disjointed set of land uses that exist there today,” said Thomas Stosur, director of the city’s Department of Planning. “The city is 100 percent behind the vision to redevelopment the area.”
The project would utilize at least 240 acres of land, with the goal of creating roughly 13 million square feet of residential, office, retail, restaurant and other commercial space. Plans also call for the area’s littered shoreline to be cleaned up and restored with parks and running paths. As with any project of this size, the addition of new streets, utilities and transit are also included.
The residential portions of the project are likely to be mixed-use buildings that feature residences atop ground-floor retail.
The city’s hope is for the new Port Covington to feature a mix of residential units types including market rate rentals, low-income residences and for-sale properties. Stosur notes the city’s rental market has been “booming” spanning the last several years and believes this, along with waterfront views and close proximity to I-95, would create demand for these residential units.
Redevelopment of Port Covington starts with a campus
The catalyst of the project is Under Armour’s new, 50-acre campus, which is already underway. The finishing touches are being put on the campus’ first building, which is a retrofit on an Old Sam’s Club.
“This one (redevelopment plan) comes from a well-positioned credible source. It’s more than just dreams on paper,” Stosur said, adding the new Under Armour campus will be an “employment magnet” for the region.
Besides the new campus, Plank has also received approved plans to construct a whiskey distillery and restaurant, along with a waterfront park on the eastern portion of Port Covington.
In the coming months, members of the city’s Urban Design and Architecture Review Panel will review smaller sections of plans submitted by Sagamore. Stosur believes approvals could start to be received within the next six to nine months.