$40M In Financing For Lexington Market Project Closes; Construction To Start Next Month
BALTIMORE (WJZ) -- The group behind a planned revitalization of the nearly 240-year-old Lexington Market said Monday it has locked up nearly $40 million in funding, paving the way for construction to begin this year.
Baltimore-based developer Seawall plans to build a new market building on the existing south parking lot starting next month ahead of a planned mid-2021 opening. The Arcade will also come down to make way for a new public plaza.
Among the groups contributing to the $39.5 million in capital funding are Fulton Bank, Harbor Bank, U.S. Bank and Lexington Market, Inc., the nonprofit that operates the market.
The state provided $9.4 million in grants, while the city of Baltimore added $7.3 million.
Seawall said the existing market will remain open during construction.
