3 December 2003
East Baltimore Developments Inc, a not-for-profit organisation which has the task of bringing a Baltimore City Council redevelopment project to fruition, began levelling the 1st row of houses this week to create a $US800 million life sciences & technology park on it. It wants to attract companies that have working relationships with the neighbouring Johns Hopkins University and incubating companies. The project will use a comprehensive financing programme including the use of tax increment financing & new market tax credits. The biotech park will cover 9ha of a 32.ha redevelopment. It will get nearly 200,000mÂ² of biotech space for about 8000 staff of up to 50 companies. The neighbourhood will also have 1500 new or rehabilitated homes and some revitalized retail.
Website: East Baltimore Developments Inc