Two new developers take over Port Covington project as Weller Development exits

Port Covington master developer Weller Development Co. is exiting the 235-acre project and moving its headquarters out of Baltimore. The company will be replaced this month by MAG Partners and MacFarlane Partners, a team of national developers and investors, who will launch an immediate marketing and leasing campaign for the five office, retail and residential buildings now under construction at the South Baltimore site. Sagamore Ventures, founded by former Under Armour CEO Kevin Plank, and Goldman Sachs Urban Investment Group, the two main investors behind the project, announced the news Tuesday.