State senators tour Port Covington redevelopment
Sagamore Development hosted a group of state senators, including Senate President Thomas V. Mike Miller, for a tour of Under Armour CEO Kevin Plank’s massive Port Covington redevelopment Thursday, as the search for funding to realize the $5.5 billion mixed-use project starts to move beyond the city. Representatives of Sagamore and Under Armour briefed members of the Senate Budget and Taxation Committee on the plans and showed off City Garage and other parts of the site. Baltimore last month agreed to float a record $660 million in bonds to pay for streets, utilities and parks on the South Baltimore site. Sagamore, Plank’s private real estate firm, expects to seek more than $500 million in state and federal funding for infrastructure in the area, where Plank plans a new Under Armour campus, plus as much as 14 million square feet of additional development.