Harborplace Acquired By Baltimore-Based Developer MCB Real Estate
BALTIMORE (WJZ) -- Today we start a new chapter for Haborplace," said Mayor Brandon Scott Tuesday during his State of the City address.
The Mayor announced Baltimore-based developer MCB Real Estate has reached an agreement to acquire Harborplace in Downtown Baltimore, pending court approval. The developer is promising big changes coming to the Inner Harbor. MCB Real Estate is led by managing partner, David Bramble.
"West Baltimore's very own David has announced that he has the right to bring private investment for revitalizing Harbor Place," said Mayor Scott, offering his administration's full support to MCB and Bramble.
Harborplace opened in July, 1980, drawing national attention as one of the first waterfront malls of its kind. Since then, it's fallen into disrepair.
"I came here when I was younger," said Janae from New Jersey, visiting the Inner Harbor for the day, "now it's dark and empty."
New York firm Ashkenazy Acquisition owned the buildings since 2013 with a long-term ground lease from Baltimore City. In 2019, the property was placed into receivership.
Businesses including Bubba Gump Shrimp, Urban Outfitters and H&M have all left their spaces.
In a statement released Wednesday, Bramble, said "we will reinvent and reimagine Harborplace as a modern gathering location that is awe-inspiring and authentically Baltimore."
The court-appointed receiver, IVL Group, will file to seek approval in Baltimore City Circuit Court. Once approved, MCB will begin planning and design in conjunction with leaders and residents of Baltimore, the firm said.