Port Deposit officials are hoping a proposed $50 million waterfront development will attract new homeowners and revitalize the town's economy.
The development announced yesterday includes 50 townhouses and a marina in the first phase, and shops and restaurants later on, said Mayor Erma M. Keetley. The entire project is expected to take about three years to complete.
Ms. Keetley announced the project at a ceremonial dismantling at the project site of one of the three 150-foot cranes that the now-defunct Wiley Manufacturing Co. used in building sections for the Fort McHenry and Harbor tunnels. The manufacturing company's closing in 1987 dealt a major blow to the town's economy, and the property has sat unused since then.
Each townhouse is to sell for about $100,000 and have a boat slip in the marina. Ms. Keetley said the developer, United Dominion Realty Trust of Richmond, Va., is hoping to attract people from Baltimore,Philadelphia and Wilmington, Del., who might want to own a second home for weekends or vacations.
Port Deposit officials also hope to obtain a federal community development block grant to rebuild sidewalks, improve lighting and install new landscaping to spruce up the town on the Susquehanna River, which has 700 residents and was incorporated in 1813.
"We have to do our part to make it look good for the new development," Ms. Keetley said, adding that she hopes the development will revitalize Port Deposit.
"This certainly will help," she said. "Fifty million dollars is going to bring a little bit of money into the town."