Developers of the 235-acre Baltimore Peninsula mixed-use community in South Baltimore said Thursday that they have awarded nearly half of the construction work in the project’s first phase to city-based women- and minority-owned businesses.
More than $134 million in contracts have been awarded to firms with those designations, developers said in a new report measuring the project’s economic, environmental and social impact.
The report said 35% of contracts, worth almost $98 million, went to minority-owned businesses, while 13%, of $36.7 million, went to women-owned companies. Contractors have hired 476 city residents to work construction jobs.
The project south of Interstate 95 previously known as Port Covington now includes two apartment buildings, a Roost hotel, two office buildings and Rye Street Market, where a multi-vendor retail and food market is slated to open later this year. It’s being developed by MAG Partners, MacFarlane Partners, Under Armour founder Kevin Plank’s Sagamore Ventures and Goldman Sachs Asset Management.
Click here to read the rest of the article written by Lorraine Mirabella over at The Baltimore Sun
