Development News

The Baltimore Development Corp. has put $30 million in tax-exempt development money up for grabs.

The call for interested private sector parties to submit funding proposals is part of the $15 billion in Recovery Zone Facility Bonds created under the American Recovery and Reinvestment Tax Act of 2009 (a.k.a. the Stimulus Plan). The tax-exempt bonds were earmarked by the Feds for areas of the country with high poverty or unemployment rates. The moneys may be used for new construction, expansion, or substantial rehabilitation of office buildings, hotels, business parks, industrial and manufacturing facilities, retail, restaurants, certain qualifying residential projects, mixed-use projects and other types of private commercial uses.

Colin Tarbert, BDC Senior Economic Development Officer, says the bonds must be issued for projects by Dec. 31, 2010 -- the program's end date -- and that BDC as a result will prioritize "projects that are sort of ready to go, that have evolved to the point where [the developers] are looking to be financed and haven't been able to close on that financing."

The BDC is hoping the funding "will stimulate the lending field. At the end of the day, we're looking for projects that will create new city jobs and new city taxes," Tarbert says. Interest in the bonds from the private sector has already been strong, he adds.

The Notice of Funding Availability and Request for Proposals can be downloaded from BDC's website. The deadline for submission of proposals is 4 p.m. on Sept. 1. BDC will hold a pre-proposal conference at its offices (36 S. Charles Street, 16th floor) on Aug. 12 at 10 a.m.

Source: Colin Tarbert, BRDC
Writer: Lucy Ament

Locust Pointers will get an infusion of heat as the cool weather sets in this year. Miguel's, billed as a Spanish-style tapas restaurant, is slated to open this fall in the Silo Point Condominium Building on the peninsular neighborhood's north side. The restaurant is the brainchild of Michael Marx, owner of Texas barbecue restaurant RUB on Light Street in Federal Hill (and of the former Blue Agave Restaurante y Tequileria in the same neighborhood).

Farrah Zuckerman, sales and settlement coordinator for Silo Point Condominium Building, says an opening date has not been set for Miguel's, which will be located off the building's lobby and will have outdoor seating and a view of the water. The restaurant is expected to draw patrons from nearby Tide Point, a 15-acre corporate office campus in Locust Point.

Also slated for arrival in the Silo Point building, albeit on the retail side next to Prive Salon & Spa, is a gourmet deli. Zuckerman says the name of the deli has not yet been announced, although rumors are circling that the space will become home to a Dean & Deluca, the upscale grocery franchise.

Source: Farrah Zuckerman, Silo Point Condominium Building
Writer: Lucy Ament

"Never confuse motion with action," warned the master of adages, Benjamin Franklin. It's the philosophy at the heart of Federal Hill's new South Baltimore CrossFit, a largely machine-free gym that employs strength training for results in lieu of spinning, running and cycling.

The gym, one of a loose affiliation of gyms operating under the CrossFit name, held its grand opening on July 25 with free demonstrations, workouts, and coaching. According to owner Troy Venuto, South Baltimore CrossFit teaches patrons to use "big movements" employing joints and muscles such as squats, deadlifts, and clean-and-jerk lifts.

"It's the most complete program that I've ever found for improving your general physical fitness," Venuto says. "These are movements that professional athletes have been using for decades but that the average gym-goer is not exposed to."

New members are required to take a fundamentals program three times a week for four weeks to learn the basic movements (experienced resistance trainers may test out). They are then free to choose from a variety of daily classes, each of which lasts about an hour.

Community interest in the gym has been strong, says Venuto, who said the first fundamentals program is 85 percent full. Venuto, who lives in Federal Hill, set up shop there because of his neighbors' evident love for fitness. "On a nice day there a million people out there jogging," he says.

Venuto says the "big movement" method will solve any defects of the physique.

"If you come in overweight, you'll lose weight. If you come in scrawny, you'll gain muscle. The body is an awesome thing," he notes. "Give it the right moves and it will take care of itself."

South Baltimore CrossFit is located at 1800 South Hanover St.

Source: Troy Venuto, South Baltimore CrossFit
Writer: Lucy Ament

A Baltimore-based real estate developer is finding going green is affordable, too.

A+ Neighborhood Homebuyers is offering its first affordable and energy efficient home. It includes a tankless water heating system. The developers also cut costs by repurposing the building's wooden beams and studs and by using eco-friendly cellulose insulation instead of the more traditional fiberglass insulation.

"It was an idea that our private lender suggested. He said that since we had renovated several houses throughout the city in the last several years that we should try something new. We used a consultant for the project who showed us different strategies we could use to save money in our construction budget," says Marcel Umphrey, company co-founder.

The project is proof that going green does not have to be expensive, according to Umphrey.

"A lot of investors think that if you go green it will take a lot more money than you would usually spend on a typical renovation. We found that we actually saved a little money. We used cellulose insulation because that was more cost efficient," he says.

The company is working on more green homes that also include Energy Star-rated appliances have received green audits before and after the renovation. They will run between $150,000 and $180,000. Umphrey expects to host an open house in mid-September.

Source:Marcel Umphrey, A+ Neighborhood Homebuyers
Writer: Lucy Ament

Low-income families in Baltimore will get some help keeping their heating bills low this winter thanks to federal legislation that provides $15.7 million for a citywide weatherization initiative.

Mayor Shelia Dixon announced in June that some 700 families over the next 3 years will receive assistance keeping the elements out of their homes and, consequently, their energy bills down. The process of weatherization has been shown to reduce energy consumption by as much as one-third.

Funding for the weatherization project comes from the American Recovery and Reinvestment Act, signed into law in February by President Obama. The law is designed to provide assistance and relief the communities and families that are struggling financially and to bolster investment in initiatives that create jobs and promote the stability of the economy.

"Today is the beginning of a movement to make the entire city greener and more sustainable," Dixon says. "The weatherization initiatives will ensure that energy efficiency and 'greening' programs are active in every neighborhood in Baltimore."

The initiative is also expected to have a positive impact on the city's workforce, as city employees working on the initiative will earn certification by the Department of Energy to conduct weatherization, according to Dixon. This certification process should add skills to the Baltimore-based workforce and local contractors that meet new federal certification standards.

The city will coordinate the weatherization project with the health department's "Healthy Homes" and lead abatement initiatives, as well as housing rehabilitation programs from the Department of Housing and Community Development and energy efficiency programs under the Empower Maryland program.

Funds coming through the American Recovery and Reinvestment Act will be monitored in quarterly reports by the Baltimore Economic Recovery Team. Reports are available at http://recovery.baltimorecity.gov.