Goldman Sachs considers involvement in Mondawmin

An official with Goldman Sachs, the New York investment bank that is helping develop the massive Port Covington complex in South Baltimore, said Thursday the bank is looking at other sites in Baltimore, including the space at Mondawmin Mall left empty in February when the retail giant Target closed its doors.

The closure of the popular discounter was a blow to West Baltimore, and city officials have been working to fill the space. Mayor Catherine E. Pugh said this week that she raised the idea of a movie theater in Mondawmin in a meeting with Goldman Sachs officials.

“We enjoyed meeting with Mayor Pugh in Baltimore last week,” said Margaret Anadu, managing director of Goldman Sachs Urban Investment Group, in an email. “We are evaluating opportunities in Baltimore, including the potential Mondawmin Mall project, that align both with local community priorities and our placebased approach to comprehensive com- munity and economic development.”

The bank’s urban investment group, which focuses on “impact investing” to held cities that need it, pledged a $233 million investment in Port Covington last fall. Officials were recently in town to tour the site and the city.

“I asked them to take a look at the possibility of a movie theater in Mondawmin,” Pugh said during a news conference Wednesday. “They are taking a look at that.” Pugh said she specifically cited the group’s investment in a theater in Newark, N.J., as an example.

The Target was one of a dozen underperforming stores the retailer closed around the country. It had been a key anchor to Mondawmin Mall’s revitalization in 2008.

Target still operates a store in Canton and several in the region. Officials did not respond to a request for comment. Nor did the mall’s owner, GGP, a real estate investment trust formerly known as General Growth Properties.