BDC rejects plan for part of ex-Superblock
The Baltimore Development Corp. rejected a proposal on Thursday to redevelop a property within the former Superblock, while agreeing to further discuss development plans for another West Baltimore site.
Maverick Management Corp., a New York developer, proposed redeveloping 223 W. Lexington St. into eight market-rate apartments and ground-floor retail, to be occupied by Rainbow, a women’s clothing store affiliated with Maverick.
The board unanimously rejected the proposal, in part because it did not meet the goal of bringing new retail to the area. Rainbow, the proposed retailer, already is located nearby, at 319 W. Lexington St.
The board also expressed concern that the proposed purchase price, $200,000, undervalued the property, which is appraised at $1 million and has usable retail space.
Sharp Dressed Man, the nonprofit founded by Chris Schafer Clothier founder Chris Schafer that was displaced by a fire in March, has temporarily set up shop at 223 W. Lexington St.
Maverick could not be reached for comment Thursday.
The board also reviewed a proposal from Washington Baltimore Development Corp. to turn a corner of West Baltimore north of Lexington Market into a mix of apartments and retail.
The site, called Howard Station, includes a parking garage at 400 Park Ave., a cluster of townhouses along Park Avenue and an electric substation.
Under the proposal, WBDC and partners TriStar Investing, Cho Benn Holback + Associates, and FLGA LLC would turn the space into 83 market-rate residential units, four live-work studios and 17,800 square feet of retail space, occupied by regional and national brands.
All the properties on the site are considered historic. The proposal calls for historic elements to be preserved, while connecting the properties by dismantling construction that is not original. The proposal would eliminate the parking garage, which is not functional.
Construction could start in the second quarter of 2018 and finish in early 2020, according to a BDC staff presentation of the proposal.
The group is seeking to take over the site, appraised at $1.1 million, at no cost. BDC spokeswoman Susan Yum said that the board can recommend the proposal while disputing the proposed purchase price.
In closed session, the board discussed and voted on whether to recommend the proposal to Mayor Stephanie RawlingsBlake, but declined to disclose the outcome of the vote. The board’s vote will become public if the mayor approves the recommendation and it moves on to the Board of Estimates.