Two plans include hotel component of project
Four development groups, including a team led by NFL legend Emmitt Smith, have submitted proposals to the Baltimore Development Corp. to build a new Baltimore arena on the current site of 1st Mariner Arena.
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“In this current economy, four proposals is significant interest,” said BDC President M.J. “Jay” Brodie. “There’s a lot of competition here. We want to make the best possible decision. We have lots of work to do.”
The four development groups are:
» ESmith Legacy and Garfield Traub Development. ESmith Legacy, with offices in Baltimore, was co-founded by Emmitt Smith, a retired NFL superstar who helped the Dallas Cowboys win three Super Bowls in the 1990s.
Consultant selection
» The BDC also received 12 responses to its “Financial Consultant RFP” from groups that would assist in the analysis of arena proposals. Of the 12 groups, four will be interviewed by the Arena Advisory Panel this month, with a selection expected in January.
» The consultant groups to be interviewed include Barrett Sports Group, Economics Research Associates, Smith Sports and Stafford Sports.
The ESmith Legacy proposal includes a seven-screen movie theater, 20,000 square feet of retail space and a 1,000-seat concert venue, in addition to the larger sports and entertainment arena.
» Struever Bros. Eccles & Rouse and Capital Venture Group. Baltimore-based Struever Bros. has shown interest in developing a new Baltimore arena since the BDC first requested arena proposals in July 2007.
The Struever Bros. plan includes a 300-room hotel and 43,000 square feet of retail space.
“It’s an opportunity to reactivate the site for more than just arena events,” said Tim Pula, senior development director for Struever Bros. “By combining a mix of uses, you’ll have activity in the area every day and bring more vibrancy to that part of town.”
» Cormony Development and Harrison Development. Rockville-based Cormony Development and Baltimore-based Harrison Development have also been involved in the arena discussion since 2007. The group’s original proposal included Ravens linebacker Ray Lewis’ Team 52 Development, but Team 52 was not listed on the latest proposal.
Cormony’s proposal includes a 400-room hotel, a 240,000-square-foot office tower and 12,000 square feet to 20,000 square feet of retail space. » A&R Development, J Street Development Co. and Accent Development Co. The partnership of Baltimore-based A&R and Washington-based J Street and Accent, under the name Arena Development, also submitted an original proposal in July 2007. The Arena Development plan includes up to 100,000 square feet of retail space. A decision by the BDC on the arena developer could be made by mid-2009 at the earliest. After seeking proposals for a new Baltimore arena in 2007, the BDC in July announced it would seek proposals for a new 18,500-seat venue, which could attract an NBA or NHL team to Baltimore, at the site of the 46-year-old 1st Mariner Arena on West Baltimore Street. The BDC issued a new request for proposals in August. A new arena could cost as much as $300 million, but Brodie said additional hotel and retail uses could drive up the project cost. The BDC is seeking significant private financing of the project. Construction on the 1st Mariner Arena site would leave the city without a major entertainment venue for three to four years.
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