State Center plans unveiled
The housing, credit and economic troubles killing development projects here and nationwide haven't stopped plans to redevelop the state complex in midtown Baltimore into new offices, apartments, condos and shops.
Lorraine Mirabella reports today that "state officials and developers said yesterday that they hoped to start construction of a new State Center by 2010."
A master plan totaling 6 million square feet, to be presented tomorrow to a city design panel, includes 2 million square feet of office space, 1,200 market-rate and affordable residences and about 250,000 square feet of restaurants, shops and, possibly, a supermarket.The dozen state agencies that currently occupy four state-owned buildings would become a key anchor, filling about three-quarters of the office space.
Comments
The Wall Street Journal Reports we are are at the bottom of the market, $1.6B is being invested on the West-Side, tons of projects moving forward, Maryland says it has no idea how to fill all the jobs that are here and on the way.
I have a hard time believing that things as bad you suggest.
I have more examples.
Wait 2-3 months if you need statistics.
Posted by: Dunn | May 7, 2008 1:23 PM
Oh, Christian -- you see arguments in my posts that I'm not making. As Lorraine Mirabella reported recently in a very detailed story, there are a number of local projects that have stalled because of the market. It's not an opinion, it's a fact. But that doesn't necessarily mean things aren't going to turn around soon; it's a reflection of credit availability and current supply-demand issues.
I don't have an opinion as to where the market is headed -- good thing, as I don't get to have one as a reporter. I'll let economists and commenters battle over that.
Posted by: Jamie Smith Hopkins | May 7, 2008 1:28 PM