BDC seeks development proposals for 20 properties on west side

The Baltimore Development Corp. on Tuesday issued a request for proposals for the redevelopment of 20 city-owned properties, a move furthering efforts to revive a stretch of Howard Street on the city’s west side.

The properties, located on one city block in the Bromo Tower Arts and Entertainment District, are bounded by Park Avenue, Howard, Mulberry and Franklin streets.

Developers can bid on one, some or all of the properties. The site is located within a historic district, and the BDC says reasonable efforts should be made to preserve and repurpose the buildings. The properties are also located within the city’s Enterprise Zone and some of the projects may be eligible for Brownfields Tax Credits and High Performance Tax Credits for the creation of market-rate rental units.

The BDC says proposals should focus on achieving the city’s goals related to the site: job creation, tax generation and mixed-used projects that will help generate activity on Park Avenue and Howard Streets. The proposals should also complement the district’s arts and entertainment focus and strive to maintain its historic character.

The BDC says at least 16 real estate, economic and community development projects totaling almost $112 million are underway or have been completed in the vicinity of the site, in a neighborhood that many hope will become a thriving downtown destination

The deadline for submissions is Oct. 27. The RFP can be found at baltimoredevelopment.com/rfps/. The BDC will hold two conferences on the properties on July 14 and July 30 at 9:30 a.m.

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Article source: http://www.bizjournals.com/baltimore/blog/real-estate/2015/06/bdc-seeks-development-proposals-for-20-properties.html

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