Monday, May 20, 2024 | Baltimore, MD
Baltimore, MD
Mostly Cloudy

The city of Baltimore wants to give $1 million to Harborplace developer

December 22, 2022

The city of Baltimore said in legal filings that it wants to give $1 million to the private developer that will soon own the troubled Harborplace in the Inner Harbor, making good on comments made by Mayor Brandon Scott earlier this year. In a May speech to the Downtown Partnership, Scott said his administration would commit $1 million to David Bramble, whose firm MCB Real Estate has spent months lining up the purchase of Harborplace. The twin mall-like pavilions have been losing money for years under out-of-state ownership. As restaurants and stores fled, Harborplace defaulted on a $76 million loan in 2019 and fell into receivership, a legal process typically used to avoid bankruptcy.

Article Source: Baltimore Sun

The Morning Rundown

We’re staying up to the minute on the issues shaping the future. Join us on the newsletter of choice for Maryland politicos and business leaders. It’s always free to join and never a hassle to leave. See you on the inside.