MAG Partners CEO MaryAnne Gilmartin speaks at Bisnow’s Baltimore State of Market event at Port Covington Sept. In September, Gilmartin said during Bisnow’s Baltimore State of the Market event that she planned to rebrand the site and update its master plan. In May, Sagamore Ventures and Goldman Sachs announced that MAG Partners and MacFarlane Partners would take over from Weller Development Co. The team eventually garnered public support for the financing by entering into a community benefits agreement with surrounding neighborhoods that exceeded $100M. The project has been controversial with some residents since backers first sought more than $500M in public tax increment financing to improve infrastructure on the site in 2016. “It’s an opportunity for Baltimore to be trailblazing and be a leader in creating a new kind of development project.”Īlong with the rebranding, the development team has unveiled alterations to the master plan and a new partnership with a software company. “We’ve created a name that reveals character and personality, all authentic, and above all, it’s a name around which we will deliver a value proposition, which is a call to action,” Gilmartin said. Two leaders of the development team, MAG Partners CEO MaryAnne Gilmartin and MacFarlane Partners CEO Victor MacFarlane, spoke with Bisnow about the project’s status on Monday ahead of Tuesday’s announcement. The goal of the rebranding, the developers said, is to provide a name reflecting the development’s full impact on the peninsula south of Interstate 95 extending into the Middle Branch. The development team leading the massive redevelopment of the city’s Port Covington peninsula has rechristened the project Baltimore Peninsula. By: Adam Bednar An aerial rendering of the development that the team has rebranded as Baltimore Peninsula.
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