Decision is deferred on future of Brokerage

Maryland Watch

September 25, 1998

The city's economic development agency deferred a decision yesterday on the future of the Brokerage complex downtown.

Instead, the Baltimore Development Corp. asked developers seeking to revitalize the 34 Market Place project to provide additional economic details of their plans.

The BDC hopes to make a decision on the Brokerage proposals next month, said Roger Lipitz, the agency's chairman. Lipitz declined to reveal what information BDC was seeking.

In March, BDC received two proposals to redevelop the 250,000-square-foot Brokerage.

A $7 million plan from the Cordish Co., which reinvigorated the Power Plant, calls for retail and entertainment space and an arts pavilion.

Urban City Development LLC of Chicago would invest $40 million to develop a 16-screen movie theater, 3-D theater, retail shops, restaurants, parking and loft apartments.

Urban City's proposal would meet with competition if plans for a 18-screen Crown Theatres cineplex at the nearby Inner Harbor East reach fruition.

The city has owned the Brokerage since 1993.

Pub Date: 9/25/98

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