Thursday, February 9, 2023 |


Bank of America branch’s closure in Brooklyn leads to birth of something new

South Baltimore’s Brooklyn neighborhood is getting a huge boost in the rare donation of a bank building. The building on Hanover Street opened in 1952 and served as the backbone of Brooklyn. Prior to Bank of America buying it, the building was a community meeting hall, hosting everything from birthdays and dances to memorials for community members.

Read More: WBAL
Open shop
SBA is revamping its disaster recovery office. Here’s what businesses need to know.

The Small Business Administration is making some changes to its Office of Disaster Assistance as part of a broader effort to strengthen the agency’s disaster relief efforts. In addition to rebranding the office as the Office of Disaster Recovery and Resilience, the SBA plans additional coordination and alignment of its disaster recovery, planning and resilience activities to help business owners recover from natural disasters. One goal is to create a better customer experience. “The transformation of our SBA disaster enterprise to align all of our capital programs will help us implement President Biden’s call to ensure disaster survivors can easily and swiftly connect to vital financial relief,” said SBA Administrator Isabel Guzman.

Walters Art Museum staffers are one step closer to forming a union

Staff members of the Walters Art Museum have taken another step towards establishing a union at the institution. Walters Workers United, which represents the workers’ collective bargaining unit, tweeted that the Baltimore City delegation on Friday “voted unanimously to support our #collectivebargainingbill, #HB116, as a Baltimore City House Delegation bill!” The move followed legislation introduced in the House and Senate by Del. Robbyn Lewis and Sen. Jill P. Carter, on behalf of Mayor Brandon M. Scott, that would allow for a process to have their union recognized, and if it’s successful, require Walters leadership to bargain with it in good faith.

Baltimore’s former Mayfair Theatre to be redeveloped as residential and commercial venue

The curtain is about to go up on a new show for the long-abandoned Mayfair Theatre, a once glamorous North Howard Street venue that closed in 1986. With its three back walls since demolished and its glorious beaux-arts facade the sole reminder of far better days, it looks like a relic of the World War II bombing of Berlin. But that’s about to change. An ambitious young developer, Yonah Zahler, who hails from Toronto and has lived in Baltimore for 19 years, and his company, Zahlco Development, is the inspiration behind a $25 million project that will be named Mayfair Place. It will be a mixed-use project of 95 residential units, commercial space and parking.

Read More: Baltimore Sun
Pandora to open Harbor East store

The Pandora jewelry company is planning to open a new store in Harbor East, the Harbor East Management Group announced Friday. The approximately 2,300-square-feet jewelry store will be located at 1011 Fleet St. in the same building as Sephora and Lululemon stores. The store will be Pandora’s flagship location in Baltimore and is expected to open in April. The news comes a little over a month after Pandora announced that it would be moving its North American headquarters from downtown Baltimore to New York City’s Time Square.

Plans for Pimlico and Laurel Park’s renovations are bogged down and hundreds of millions over budget

The horses in this year’s Preakness Stakes will be 3 years old — born the same year as a state law to spend $375 million in public financing to keep the cherished race in Baltimore and buoy the racing industry in Maryland. Since 2020, those thoroughbreds have been winning races, maturing and rising to the top of their sport. Meanwhile, the aging Pimlico and Laurel Park racetracks have only gotten older.

Read More: Baltimore Sun
Two Baltimore companies on list of possible FTX creditors

Two Baltimore companies, FBH Corporation and cybersecurity firm ZeroFox, are financially linked to bankrupt crypto exchange FTX, according to a recent court filing in the U.S. District Court of Delaware. In November, the exchange valued at $32 billion plunged into bankruptcy, rocking the cryptocurrency industry and spurring government investigations and lawsuits. The exchange’s founder, Sam Bankman-Fried, was arrested in December on eight criminal charges and faces up to 115 years in prison.

BioPark developer Wexford Science & Technology taps new CEO

The firm behind one of Baltimore’s biggest technology developments now has a new CEO. Baltimore’s Wexford Science & Technology Inc., which is developing the University of Maryland BioPark, promoted Ted Russell to the president and CEO on Feb. 1. Russell previously served as both the chief financial officer and chief operating officer of the over 50-person company and will continue to serve in the CFO role. Before joining Wexford in 2009, Russell was vice president of RBS Greenwich Capital’s real estate finance group.

Baltimore textile recycling company acquires warehouse for $6.6M

Equipped with clear ceiling heights ranging from 16 to 28 feet, rear loading docks and a platform dock, a truck court and free surface parking surrounding the building, 1201 67th St. overlooks Pulaski Highway (US Route 40), is adjacent to Interstates 95 and 895 and is approximately five miles from the Port of Baltimore and 10 miles from Baltimore-Washington International Thurgood Marshall Airport. (Submitted photo)

TEDCO invests $500K in Md. cybersecurity firm Foretrace

TEDCO, Maryland’s economic engine for technology companies, Thursday announced its Seed Funds invested $500,000 from its Cybersecurity Investment Fund in Foretrace Inc., a Columbia-based cybersecurity company focused on providing cost-effective information to help secure businesses from cyber attackers. TEDCO’s Seed Funds invest in early-stage, technology and life sciences companies and provides access to gap financing.

The Morning Rundown

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