Sagamore Development, Goldman Sachs spend $16M for marina at Port Covington

A group headed by Sagamore Development and the Goldman Sachs Urban Investment Group have expanded their Port Covington portfolio to include another slice of the waterfront. A nearly 8-acre tract of property was acquired for $16 million in late February by 321 Cromwell St. LLC, a deed for the sale just filed with the state shows. The 321 Cromwell St. LLC entity is based at Weller Development Co. at 1000 Key Highway, where the Port Covington lead developer has its headquarters. Marc Weller, principal of the company, confirmed the acquisition Wednesday and said redevelopment plans for the former Tidewater Yacht Service compound at 321 E. Cromwell St. were incomplete. (Balt. Bus. Journal)

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Baltimore's Pixilated looks to grow nationally with new e-commerce platform

Pixilated is expanding the reach of its portable photo booth concept. The Baltimore company's new online retail platform offers products that can be rented and shipped anywhere in the country. Pixilated recently launched a new e-commerce platform on the platform Shopify. The platform allows consumers from anywhere within the continental U.S. to order self-service digital photo booths, called PixiTABs, for any gathering or event. The PixiTABS can be rented for $299 apiece, and are shipped with an easy-to-follow set of instructions, and a prepaid return shipping label. The company has already tested and proven the rentable photo booth model. (Balt. Bus. Journal)

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Germantown biopharma regains compliance with Nasdaq

Maryland stem cell therapy company Neuralstem Inc. has received a letter from the Nasdaq granting its request to remain listed on the stock exchange, according to filings with the Securities and Exchange Commission. The Nasdaq Hearings Panel concluded that Neuralstem (NASDAQ: CUR) showed compliance by meeting the minimum $1 bid price requirement and by addressing questions about its stockholders’ equity position, the company reported. The company’s stock sat flat at $2.1 per share Wednesday morning, the day after its announcement. The Germantown-based biopharma, which is developing treatments for serious nervous system conditions, had received a warning from the Nasdaq late last year that it would need to get its stock price consistently above a buck by the end of May 2019, which it failed to do. (Wash. Bus. Journal)

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Howard County could lose $63M because of moratorium on new development

Howard County could miss out on $63 million in net revenue over the next six years because of regulations passed by the County Council last year imposing more stringent restrictions on new development. The number could grow to $152 million over 20 years, according to fiscal impact study released Tuesday by the Howard County Department of Planning and Zoning. The analysis, conducted by Urban Analytics Inc., the University of Baltimore's Jacob France Institute and Artemel & Associates Inc., found that new development generates more revenue for Howard County than expenditures. Therefore, less new development results less net revenue to the county. Howard County's spending affordability committee recommended the study be done. (Balt. Bus. Journal)

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County Executive Wants To Give Montgomery Businesses Preference for Contracts

County Executive Marc Elrich plans to send legislation to the County Council giving preference to Montgomery County-based businesses when awarding contracts. The council will consider the legislation when it returns in September from a monthlong recess. Under the county executive’s proposal, Montgomery County businesses could receive up to 10 percentage points during the procurement process, giving them an advantage over businesses from other municipalities.  Elrich announced the legislation Monday afternoon during a news conference at the Silver Spring Library. He also discussed the expansion of other initiatives aimed at making the county more business friendly – one of his campaign promises from last year. (Bethesda)

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Retail Confectioners International Hosts 11th Annual Chocolate Boot Camp In Baltimore

Twenty-four people from across the country are in Baltimore for four days of intense classroom and hands-on lab sessions, and it’s all in the name of chocolate. When you think of boot camps, you probably think of push-ups and sit-ups. This boot camp, however, is all about chocolate. It’s the 11th annual Retail Confectioners International Chocolate Boot Camp. “There’s always that warm and fuzzy feeling you get with chocolate and candy,” Ashley Jackson, of Apple Tree Chocolate, said. “It’s also a lot of fun.” (WJZ-TV)

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Maryland Stadium Authority seeks $3.8M to update Oriole Park warehouse

Oriole Park at Camden Yards will be getting an upgrade, but fans probably won't notice. The Maryland Stadium Authority is seeking approval on Aug. 14 from the Maryland State Public Board of Works for $3.8 million in renovations for the stadium's Warehouse at Camden Yards. If approved, the money would be used to renovate what was once the B&O Warehouse that sits next to the iconic ballpark. The historic brick building is considered a part of 27-year-old Oriole Park, but isn't normally incorporated into the fan experience. It houses the Orioles' team offices as well as a few private tenants, Wolters Kluwers, a publishing company, the Stadium Authority and MASN, the Orioles TV network, among them. (Balt. Bus. Journal)

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Marriott to add all-inclusive resorts to its portfolio with Ritz-Carlton, other brands

Fresh off the heels of launching its home rental business nationwide, Marriott International Inc. (NASDAQ: MAR) is targeting another segment of the leisure travel market: all-inclusive resorts.  The Bethesda hotel company has signed management deals for five all-inclusive resorts, including the first all-inclusive Ritz-Carlton property. The Ritz and three other Marriott-branded hotels will be built on a 220-acre site on Riviera Nayarit on Mexico’s Pacific Coast. The owner is Mexico City private equity firm Artha Capital.  Hotels in the the Mexico project are:  240-room The Ritz-Carlton resort (2023 anticipated opening) 400-room Westin Hotels resort (2023 anticipated opening) 300-room Autograph Collection resort (2025 anticipated opening) 500-room Marriott Hotels resort (2025 anticipated opening) (Wash. Bus. Journal)

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