The city of Baltimore wants to give $1 million to Harborplace developer
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.
Scott made a May speech to Downtown Partnership and stated that his administration would give $1 million to David Bramble, whose firm MCB Real Estate spent months lining up Harborplace's purchase. Since their inception, the twin mall-like pavilions have been suffering from out-of-state owners for many years. On Friday, a judge approved MCB's purchase of Harborplace. The planned sale price was not disclosed in court documents. According to the filing, 'The City of Baltimore believes that the Purchaser should be notified of the sale'. Bramble's portfolio has grown over the years to include a variety of developments across Baltimore and nationwide. His company was behind Yard 56 in Greektown. It tapped the city's first federal opportunity area investment. He also acquired Clipper Mill and Rotunda. Bramble was also part of Scott's transition team in 2020 when Scott was elected mayor. A spokesperson for Comptroller Bill Henry stated that the $1 million proposal has not been presented to the Board of Estimates. This oversight oversees city spending. According to disclosure forms filed by lobbyists with the state ethics board, MCB spent $70,000 to hire four Harris Jones & Malone lobbyists to lobby for the money. MCB donated $5,000 last year to Senator Bill Ferguson, a Democrat hailing from Baltimore. According to a bill that was passed this year, $67.5 million for the repair of the promenade would be divided into three tranches. $7.5 million will come this fiscal year, and $30 million each of the next two fiscal. The key to revitalizing Baltimore is turning around Harborplace. These 42-year-old pavilions were opened by Mayor Donald Schaefer in 1980. They were designed by James Rouse, a prominent Maryland developer and urban planner who also helped establish Columbia in Howard County. Harborplace's market value was $45.8 million, and its liquidation value was $27.5 million according to an appraisal. Harborplace leased 38% of the 156,000+ square feet at the time of the appraisal.