Ahoy, mateys — big treasure-map news for East Baltimore! Cross Street Partners and Shift Capital are pushing full steam ahead on the Crown Cork & Seal campus, the 1-million-square-foot former bottle-cap factory that local artists made cool.
The duo — operating as Crown Cork Redevelopment LLC after buying the campus for $16M — are seeking a tax-increment financing (TIF) district to transform the site into a mixed-use CROWN campus with retail, homes, and offices, while preserving affordable studio space for the roughly 140 artists and makers already there (median tenure: about 7 years, arr!). Councilman Mark Parker introduced the TIF legislation, the city’s Planning Commission takes it up on October 29, and phase-one infrastructure is estimated at $27.4M. A factory reborn, artists protected, and East Baltimore rising — that’s a voyage worth cheering, me hearties! Keep yer spyglass trained on this one — the Captain will be watching the October 29 hearing.
Read the full story at The Baltimore Banner.