Click here or on the image above to RSVP for the University of Baltimore Journal of Land and Development‘s spring symposium, “The Port Covington Redevelopment Project.” The event will examine the project’s potential effects on affordable housing and the environment.
Wednesday, March 29, 2017
John and Frances Angelos Law Center
1401 N. Charles St., Baltimore 21201
From the calendar item:
Baltimore’s housing law requires that 20 percent of housing in a development built using public funds be affordable to people at varying income levels below the area’s median. Though Sagamore, the developer of the Port Covington redevelopment project, received $660 million in a public-financing package to develop Port Covington, the city waived the 20 percent affordable-housing requirement. Sagamore has stated that 10 percent of housing units would be affordable to households making 80-100 percent of the Area Median Income.
About $19.6 million of the first series of bonds (valued at $64.3 million) will go toward building a park. The developer says the East Waterfront Park will help prevent shoreline erosion and will address environmental concerns while also opening up a section of waterfront to the public.