Multi-Million Dollar Towson Project Kicks Off
TOWSON, Md. (WJZ) -- More businesses, more money, more fun. That's what the city of Towson is prepping for as a $350 million project kicks off.
Marcus Washington has more on what you can expect.
This is just part of $1 billion in private development that has happened in Towson in the past five years. A Whole Foods will anchor what will soon become the 5+ acres of Towson Row.
It's the growth every city desires and, for Towson, the boom has happened in less than a decade.
"Nine years ago, people were pulling out of this town. They weren't coming to it," said Nancy Hafford, Towson Chamber of Commerce. "In the last nine years, with all the development, people are moving here."
From the new movie theater to luxury living, things are happening in downtown Towson---most recently, a $350 million projecting creating what will be Towson Row. The plan will transform the city's skyline with new shops, luxury apartments, restaurants and a market.
"This will reach all the way to Towsontown Boulevard and there will be a parallel road that will reach to Chesapeake Avenue," said County Executive Kevin Kamenetz.
Kamenetz says property taxes and income taxes haven't been raised in more than 20 years. The way to maintain that stable tax base is to expand the tax base by getting more businesses and residents in the city.
"You've got a somewhat vacant building across the street that doesn't have any street-level retail. That will all be populated with new retail as a result of the construction of this site," he said. "Business begets business."
This news is something people who live and work in the city are excited to see and soon experience.
"And if you live in the area, who wants to travel outside of where you live? It's just good to have things closer in your neighborhood that you can go to," said Tameia Stewart.
"You've got other residences around here, you've got other businesses, so it's going to draw from everywhere," said Steve Silver. "But $350 million, that's a lot of money."
Completion of the final phase of Towson Row is expected by 2018.