Development Projects on hold in Baltimore City

Many developers are postponing or waiting out the market as credit crunch has made financing more difficult to obtain. Developments driven by university and hospitals remains strong including University of Maryland biotechnology park and Johns Hopkins Hospital affiliated project on the east side.

Baltimore city has limited historical track record of successful condo developments. Several 40 to 60 story residential condo towers have been postponed. Developers are also rethinking original plans and shifting the mix of office, hotel and retail to adapt to a changing market.

 

Source: Sperry Van Ness | RealSite Commercial Group