Baltimore wants a new arena, and several of the city?s biggest commercial developers want in on its construction.
The Baltimore Development Corp. said Tuesday it has received seven proposals for a new Baltimore Arena that would replace the 45-year-old 1st Mariner Arena.
“The arena is doing well in terms of attracting concerts and family shows, but at some point, the age of the facility is going to detract from its appearance,” said Kirby Fowler, president of Downtown Partnership of Baltimore.
“We need to start facing the fact that we need a new arena in Baltimore,” Fowler said.
Cormony Development LLC, Harrison Development LCC and Team 52 Development LLC, the team redeveloping Gateway South; Struever Bros. Eccles & Rouse, a major developer of city projects including Harbor Point and Tide Point; and Turner Development Group., the developer of the Westport community, are among the groups that have expressed interest in the project.
Although the BDC did not disclose possible locations for the arena, Turner Development said it proposed the project near the Westport complex.
“Obviously, the arena needs to be replaced,” said Patrick Turner, principal of Turner Development. “We?re not going to get an NBA or NHL team … [but] Baltimore does very well with concerts and family events.”
In July, the BDC issued a request for interest in developing “a first-class arena that incorporates the most modern design and technological innovations … that provide a high-quality audience experience.” The BDC asked that the arena include 15,000 to 16,000 seats, 1,000 to 2,000 club seats and 10 to 20 suites, along with retail and restaurant locations along the building?s exterior.
The estimated cost of construction of a new arena would be $128 million to $160 million in 2007 dollars, according to an arena feasibility study completed this year by the Maryland Stadium Authority.
The 1st Mariner Arena attracts about 600,000 in attendance and generates about $47 million, including $3.7 million in tax revenues, a year, according to the MSA study.
DEVELOPMENT TEAMS
The following development teams expressed interest in building a Baltimore Arena:
» Arena Development Group LLC
» Cormony Development LLC, Harrison Development LLC, Team 52 Development LLC
» Hale Properties LLC, Greenberg Gibbons Commercial Corp.
» Pinnacle Properties & Development LLC, Garfield Traub Development LLC and AEG
» Struever Bros. Eccles & Rouse, Capital Venture Group LLC
» Turner Development Group
» White Rhino Development LLC
Staff Writer Aaron Cahall contributed to this article.
