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Wednesday
July 8, 2009
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Recent Issues
Facilities & Venues

Baltimore Officials Delay Selection Of Developer For New Arena

Project To Replace Aging 1st Mariner
Arena Could Cost At Least $300M
Baltimore city officials have "put off selecting a developer for a downtown sports and entertainment venue but say they remain committed to the project, a replacement for the aging 1st Mariner Arena that could cost at least" $300M, according to Lorraine Mirabella of the Baltimore SUN. Baltimore Development Corp. President Jay Brodie said that the project is "unlikely to move forward until the economy improves and financing becomes more readily available." Brodie: "The real question is the degree to which we can produce a private-public partnership on financing and how much private financing might be brought. It's a critical question." Brodie said that four development groups -- Struever Bros. Eccles & Rouse, ESmith Legacy Inc., Arena Development Group and Cormony Development -- are "still interested in pursuing the project." Proposals from the groups "all called for an 18,500-seat facility on the current site of 1st Mariner Arena, one large enough to draw big concerts and acts and potentially attract a professional basketball or hockey team" (Baltimore SUN, 7/8).

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