Harborplace formally transferred to Baltimore-based developer MCB Real Estate
BALTIMORE -- Anyone who has been to Harborplace recently has seen just how many of its buildings that once housed businesses are now empty—and that it has been going on for quite some time.
On Wednesday morning, Baltimore's spending board approved the lease amendment. It formalizes the transfer to Baltimore-based developer MCB Real Estate.
This is a crucial step as redevelopment plans push forward, and it could help boost downtown tourism.
The Harborplace lease was last held by a New York real estate firm.
The city has agreed to waive any existing defaults under the lease. As part of the agreement, it will not charge rent for three years while MCB Real Estate works on transforming the property.
During that three-year development period, MCB Real Estate will open pop-up rentals for local businesses at Harborplace.
So, keep an eye out for new stores that could be coming.