A once blighted area along Baltimore National Pike, or U.S. 40, in Catonsville has sprung back to life after a Sam?s Club, a Walgreens store and several other retailers opened shop in the community, and county officials hope it will spark even more development in the area.
“We have leveled an area of three parcels also along National Pike that we are hoping to develop,” said Peirce Macgill, commercial revitalization expert with the Baltimore County Department of Economic Development.
Incentive to locate in the area is being fueled by the efforts of Baltimore County?s elected officials as well as officials with the county?s economic development department who used a combination of tax credits, low interest loans and an expedited permit process to speed development.
“The biggest seed in that area was Sam?s Club on the Northwest corner of Route 40 and Ingleside, which came in about two years ago,” Macgill said.
He said that Days Inn, a hotel chain also on National Pike, did a $1.2 million renovation at its site.
But the Walgreens site located at 5657 Baltimore National Pike proved a challenge because five properties had to be assimilated for the amount of land Walgreens desired, Macgill said.
And the site included a former dry cleaner, which required an environmental permit, closed businesses and dilapidated property that needed to be leveled, he said.
Because the site was part of a previously designated county revitalization district, it was eligible for special tax credits, a low interest county loan and help to get permit approval.
Walgreens received a $100,000 low interest Baltimore County Business Growth loan to help with construction of the $1.4 million store.
“This type of project is part of our corporate strategy,” said Carol Hively, a corporate spokeswoman for Walgreens.
The store opened in October.
“This is a good fit for our store model. We have always looked to urban areas and nearby areas to help in revitalizing a community,” Hively said. “We started our first store on the southside of Chicago.”
In a company release dated Aug. 1, Philadelphia-based Marcus & Millichap Real Estate Investment Brokerage Co. announced that it helped sell the 14,820 square foot building leased by Walgreens for $8.5 million. The seller was Pace-Ingleside based in Missouri and the property was sold to New York-based P&A Fortang.
