Baltimore Peninsula Property Development: Baltimore's Best Projects

Last Updated on: 28th February 2025, 08:44 am

Welcome to the Baltimore Peninsula, a vibrant and transformative area that’s redefining urban living and working in Baltimore. This former Port Covington site has undergone a remarkable evolution, emerging as a prime location for shopping, dining, and residence¹.

The Baltimore Peninsula is more than just a development project—it’s a vision for the future. With a focus on creating a sustainable and diverse community, this area is set to become a benchmark for urban development. The project has already secured significant funding, including $660 million in Tax Increment Financing (TIF), to ensure its success².

Imagine a neighborhood where innovative office spaces, residential zones, and recreational areas coexist harmoniously. The Baltimore Peninsula is bringing this vision to life, with over 1.1 million square feet of mixed-use space planned¹. The area will also feature a strong sense of community, with initiatives aimed at supporting local businesses and residents³.

The transformation is well underway. Five mid-level buildings along East Cromwell Street are expected to open next year, offering new opportunities for businesses and residents alike². Additionally, the area will include 400 apartments and a similar number of townhouses, providing a variety of living options¹.

Under Armour is also relocating 1,500 employees to a new headquarters building in the area, which is set to open next month¹. This move underscores the Baltimore Peninsula’s commitment to fostering economic growth and community spirit.

Key Takeaways

• The Baltimore Peninsula is a transformative development project in Baltimore, formerly known as Port Covington.
• The area is set to feature innovative office spaces, residential zones, and recreational areas.
• The project has secured $660 million in TIF funding to support its development.
• Five mid-level buildings are expected to open next year along East Cromwell Street.
• Under Armour is relocating 1,500 employees to a new headquarters in the area.
• The development aims to create a sustainable and diverse community.

For more information on the Baltimore Peninsula and its exciting developments, visit Introducing Baltimore Peninsula.

Exploring the Vibrant Landscape of Baltimore Peninsula

Discover the rich history and exciting transformation of the Baltimore Peninsula, a area that has evolved from its industrial roots into a thriving urban hub. Once known as Port Covington, this waterfront district has undergone a remarkable journey to become the vibrant community it is today.

Historical Transformation from Port Covington

The transformation of Port Covington into the Baltimore Peninsula began in 2012 under the vision of Kevin Plank. This effort gained momentum in 2016 with strategic public financing, aiming to create a dynamic waterfront community⁴. The area’s rebranding marked a shift towards mixed-use development, blending residential, commercial, and recreational spaces.

Evolving Urban Identity and Community Spirit

Today, the Baltimore Peninsula boasts 14 million square feet of mixed-use development, 2.5 miles of restored waterfront, and 40 acres of parks and green spaces⁵. This evolution reflects a strong community spirit, with initiatives supporting local businesses and residents, making it a benchmark for urban development.

The neighborhood’s character has embraced a vibrant urban identity, with cultural and social developments flourishing. Street-level revitalization has incorporated elements inspired by rye and port influences, adding to the area’s charm.

For more insights into the Baltimore Peninsula’s transformation, visit Discover the Baltimore Peninsula.

Baltimore Peninsula Property Development Baltimore: Breaking New Ground

The Baltimore Peninsula is setting new standards in urban development, blending innovation with community-focused initiatives. Recent milestones highlight the area’s rapid transformation into a modern hub.

Key Development Milestones

One of the most significant achievements is the completion of 1.2 million square feet of mixed-use retail, entertainment, and residential space in the first phase⁶. This milestone underscores the area’s commitment to creating a vibrant community. Additionally, the upcoming opening of five mid-level buildings along East Cromwell Street next year promises new opportunities for businesses and residents alike⁶.

Notable Developments:

• Locke Landing residential development will offer over 800 homes, including 420 apartments in two buildings, expected to be completed in 3-4 years⁶.
• DRB Homes is making significant strides, with 407 units already leased at 50% capacity, up from 15% six months ago⁶.

Strategic Partnerships and Investment Impact

Partnerships with high-profile investors like Sagamore Ventures have been instrumental in driving growth. Under Armour’s relocation to a new five-story, 280,000 square-foot headquarters, accommodating up to 1,400 employees, is a testament to the area’s appeal⁷.

Investment Highlights:

• CFG Bank’s 15-year lease for 97,000 square feet of office space⁷.
• Over $132 million committed to Baltimore City-certified MWBE firms, with 35% participation from MBEs and 13% from WBEs⁷.

These advancements position the Baltimore Peninsula as a beacon of modern urban living, where innovation and community thrive hand in hand.

Experiencing the Community: Dining, Shopping, and Living on the Peninsula

Discover the vibrant community of the Baltimore Peninsula, where dining, shopping, and living come together in a unique urban experience. This waterfront community offers a blend of iconic eateries, innovative retail spaces, and a strong sense of community spirit.

Discovering Culinary Delights and Iconic Eateries

The dining scene on the Peninsula is thriving, with iconic spots like Nick’s Fish House and the rejuvenated Rye Street Tavern. These restaurants offer a mix of seafood favorites and classic tavern fare, making them must-visit destinations for food enthusiasts. Recent openings include Slutty Vegan and Bar Vegan, adding diverse culinary options to the area⁸.

• Nick’s Fish House is known for its fresh seafood and waterfront views.
• Rye Street Tavern offers a cozy atmosphere with classic American dishes.
• New restaurants like Slurp Noodle Bar and Ben & Jerry’s are set to open soon⁸.

Retail Innovations and Lifestyle Destinations

The Peninsula is also home to innovative retail spaces. The Exchange in Rye Street Market is a multivendor space that supports small businesses and local entrepreneurs. This hub offers a variety of products, from specialty foods to handmade goods, making it a great spot for both residents and visitors to explore.

• The Exchange features over 34,000 square feet of retail space⁹.
• Local products include items from Hon’s Honey and MFG Toffee and Goods¹⁰.

The Peninsula’s lifestyle upgrades, including cultural events and outdoor activities, make it an attractive place to call home. Whether you’re enjoying a meal at a local restaurant or strolling along the waterfront, the community’s friendly nature and vibrant street culture create a welcoming environment for everyone.

For more information on the Baltimore Peninsula’s dining, shopping, and community initiatives, visit Baltimore Peninsula Community Life.

Innovative Spaces and Future Opportunities in Baltimore Peninsula

The Baltimore Peninsula is paving the way for a new era of urban innovation, blending cutting-edge design with community-centric spaces. This vibrant area is not just about residential and commercial growth; it’s about creating a sustainable and connected community for the future.

Dynamic Office and Commercial Developments

The office spaces in the Baltimore Peninsula are being reinvented to meet the demands of modern businesses. With over 1.2 million square feet of mixed-use space already completed, the area is becoming a hub for innovative work environments¹¹. Companies like Hovnanian Homes and K. Hovnanian Homes are leading the charge in developing sophisticated office complexes that prioritize flexibility and collaboration.

One notable development is the 97,000 square feet of office space leased by CFG Bank, showcasing the area’s appeal to major businesses¹¹. These advancements in urban design are setting new standards for office environments, making the Baltimore Peninsula a magnet for companies seeking modern, versatile spaces.

Recreational, Waterfront, and Urban Park Projects

The Baltimore Peninsula is also focused on creating exceptional recreational and waterfront experiences. A new 28,000 square foot city park is currently in development, adding to the existing 40 acres of green spaces that enhance the community’s quality of life¹¹. These parks are integral to the area’s sustainability efforts and provide residents with ample opportunities for outdoor activities.

The waterfront area is another highlight, with 2.5 miles of restored shoreline offering stunning views and access to various recreational activities¹¹. Locke Landing stands out as a prime example of integrated development, combining residential homes with scenic recreational areas, making it an ideal location for families and professionals alike.

For more details on the Baltimore Peninsula’s innovative developments, visit Innovative Spaces in Baltimore Peninsula.

The future of the Baltimore Peninsula looks bright, with ongoing projects promising even more innovative spaces and community-centric amenities. Whether it’s state-of-the-art office complexes or expansive waterfront parks, this area is shaping up to be a model of modern urban living.

Conclusion

The Baltimore Peninsula stands as a testament to urban renewal, transforming from its industrial roots into a thriving modern community. This 235-acre area off Hanover Street has evolved into a hub of innovation and community spirit¹². Key milestones, such as the completion of over 1.2 million square feet of mixed-use space and strategic investments like $660 million in TIF funding, have set the stage for sustained growth¹².

The area’s commitment to quality living is evident in its dynamic public spaces and residential opportunities. Under Armour’s relocation of 1,500 employees to a new headquarters exemplifies the Peninsula’s appeal as a forward-thinking destination. With initiatives like the BRIP program offering significant property tax reductions, the community attracts both residents and businesses, fostering a vibrant atmosphere¹³.

As the Baltimore Peninsula continues to evolve, it invites everyone to share in its excitement. Stay updated on upcoming projects and be a part of this transformative journey. Together, we can build a future where innovation and community thrive hand in hand.

Source Links

1. https://thedailyrecord.com/2024/10/03/the-transformation-of-baltimore-peninsula/
2. https://www.baltimorebrew.com/2022/11/15/its-official-kevin-planks-port-covington-is-rebranded-as-baltimore-peninsula/
3. https://www.baltimorebrew.com/2021/05/25/average-citizens-tried-to-tell-city-leaders-port-covington-was-too-good-to-be-true/
4. https://baltimorefishbowl.com/stories/urban-landscape-baltimore-saw-construction-activity-in-nearly-every-part-of-the-city-in-2024/
5. https://www.bisnow.com/today/baltimore-multifamily-mixed-use-summit-8570
6. https://sobopost.org/2024/04/23/balt-pen-update/
7. https://www.cfg.bank/news/cfg-bank-signs-lease-at-baltimore-peninsula-becoming-newest-commercial-tenant-holding-largest-lease-to-date/
8. https://thedailyrecord.com/2025/01/15/jamaican-restaurant-coming-to-baltimore-peninsula/
9. https://baltimore.org/meetings/discover-baltimores-new-development-projects/
10. https://www.baltimoremagazine.com/section/fooddrink/little-wing-coffee-shop-general-store-roost-hotel-baltimore-peninsula/
11. https://www.wellerdevelopment.com/newsroom/baltimore-peninsula-begins-residential-leasing/
12. https://www.baltimoresun.com/2024/09/21/getting-to-know-the-baltimore-peninsula/
13. https://livebaltimore.com/news/locke-landing-baltimore-peninsulas-newest-residential-development/