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Old April 24th, 2007, 08:14 PM   #3101
30 Floors Up
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Any news on the Chapel NDP project? http://www.ruppertobrien.com/lombard...r%20Chapel.pdf

Drove by today and it looks like some work has started on the northern most section, but I have yet to see any timeline for the project.
If I'm not mistaken, that project is on hold and Hopkins is using the northern portion as a staging area for the new hospital replacement.
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Old April 24th, 2007, 10:16 PM   #3102
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This is good news indeed. As long as they don't pick Mayo Shattuck to head Legg, I think they will have a long and secure future in Baltimore. There must have been trouble in paradise!

Hirschmann stepping down as Legg president
Baltimore Business Journal

After a years-long succession planning process all but assured that James Hirschmann would be the future leader of Legg Mason, Hirschmann has decided to leave his job as president and chief operating officer of the money manager. Legg's longtime leader, Raymond A. "Chip" Mason, 70, has agreed to head the company for at least two more years as it goes through the succession planning process again. Mason, who is chairman and CEO, will once again take on the additional title of president.

Hirschmann will return full-time to his duties as CEO of Legg subsidiary Western Asset Management Co., a bond manager based in California. In a news release Tuesday, Hirschmann said being named president and COO of Legg Mason (NYSE: LM) a year ago was "a great honor. And, while I believed when I accepted the position that I could split my time between Baltimore and Pasadena (Calif.), I now fully appreciate that the job requires someone who will devote his or her full time and energy in Baltimore."

Hirschmann said he had decided it was "not in my children's best interest to uproot them from their close friends and family members in California where we have made our home." In the news release, Mason said, "We understand and respect what a close-knit family Jim has and know he will continue to do an outstanding job at Western Asset, our largest subsidiary."

Hirschmann's decision means Legg will be dealing with succession planning as it continues to go through another evolution: becoming a money-management giant. In late 2005, Legg completed a huge asset swap with Citigroup (NYSE: C), taking on most of Citi's money-management operations -- and nearly doubling in size.

Resuming the succession planning process should not affect day-to-day work at Legg and its subsidiaries, said spokeswoman Mary Athridge. Legg's board of directors will handle most of the heavy lifting of succession planning, she said. And for Mason, resuming the title of president should not be a major change, Athridge said: "He has been involved throughout."

Athridge said Legg will take "as long as it needs" to select a new successor for Mason.

Before Hirschmann was named president, several other Legg executives had been rumored to be potential successors for Mason, including Peter Bain, Mark Fetting and Timothy Scheve, all senior executive vice presidents. Bain heads U.S. asset management, while Scheve oversees international asset management and Fetting handles global managed investments. Athridge declined to comment on whose names might be in the running.

Mutual fund industry consultant Burton Greenwald of B.J. Greenwald Associates in Philadelphia said the news of Hirschmann's giving up his role as president caught him by surprise. But Legg has one thing in its favor as it goes through the succession planning process again, Greenwald said: "I think they're fortunate to have a lot of very talented people in senior management."
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Old April 24th, 2007, 11:58 PM   #3103
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If I'm not mistaken, that project is on hold and Hopkins is using the northern portion as a staging area for the new hospital replacement.
What I remember coming out a few months back was that the townhome portion supposed to be done by ruppert obrien was on hold. They've got a few other developments in the city that weren't doing so hot in terms of sales so they decided to hold off on putting any more houses on the market just yet. The rest of the project is still in the negotiation stage (or what seemed like the 'figure out what the hell we're gonna do with this land stage'). You are right that the perceived construction is the Hopkins construction group that is leasing the NW corner of their land. From the sounds of their last statement, I don't think anything is going to happen construction-wise on that land in 2007. Really frustrating since that spot has such great potential to anchor the community and the Hopkins Med School. Rumors were flying last year that a Barnes and Noble and a Trader Joe's were going in that spot.... never been confirmed though so I think we can just hope those plans come to fruition....
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Old April 25th, 2007, 01:18 AM   #3104
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Still no e-mailed answers from 300 east pratt people or ArcWheeler.
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Old April 25th, 2007, 04:00 AM   #3105
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Imagine Pratt Street with

the Gallery, Saks Fifth Avenue or Bloomingdale's in 300 East Pratt, Best Buy and Filene's Basement. We would finally have a shopping area downtown again.




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Still no e-mailed answers from 300 east pratt people or ArcWheeler.
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Old April 25th, 2007, 04:18 AM   #3106
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So, I'm just wondering, what warrants a new Baltimore Development News Thread? 156 pages? When will Baltimore Development News turn 21?
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Old April 25th, 2007, 04:52 AM   #3107
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^When the whole website crashes for a week again!

Nate
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Old April 25th, 2007, 10:40 AM   #3108
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Also note that this thread has "rolled the odometer" over. It now has over 100,000 page views!! That says something about the passion of the regulars here.
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Old April 25th, 2007, 11:43 AM   #3109
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Sales of existing homes fall by largest amount in nearly two decades
Maryland's March home sales lag behind those of 2006

Staff and wire reports
April 25, 2007
WASHINGTON - Sales of existing homes plunged in March by the largest amount in nearly two decades, reflecting bad weather and increasing problems in the subprime mortgage market, a real estate trade group reported Tuesday.

The National Association of Realtors reported that sales of existing homes fell by 8.4 percent in March, compared to February. It was the biggest one-month decline since a 12.6 percent plunge in January 1989, another period of recession conditions in housing.

The drop left sales in March at a seasonally adjusted annual rate of 6.12 million units, the slowest pace since June 2003.

The steep sales decline was accompanied by an eighth straight fall in median home prices, the longest such period of falling prices on record. The median price fell to $217,000, a drop of 0.3 percent from the price a year ago.

The fall in sales in March was bigger than had been expected and it dashed hopes that housing was beginning to mount a recovery after last year's big slump. That slowdown occurred after five years in which sales of both existing and new homes had set records.

David Lereah, chief economist at the Realtors, attributed the big drop in part to bad weather in February, which discouraged shoppers and meant that sales that closed in March would be lower. Existing home sales are counted when the sales are closed.

There was weakness in every part of the country in March. Sales fell by 10.9 percent in the Midwest. They were down 9.1 percent in the West, 8.2 percent in the Northeast and 6.2 percent in the South.

Last month 5,868 homes sold in Maryland, as compared to 6,958 in March 2006 – down 15.7%. The median home sale price last month was $302,750; in March 2006, it was $301,856.

(The Associated Press contributed to this story).







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Old April 25th, 2007, 11:45 AM   #3110
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Expansion part of market makeover
Baltimore Business Journal - April 20, 2007by Daniel J. SernovitzStaff

Nicholas Griner | Staff
David Holmes and Daniel Winner want some large tenants in the market.
View Larger Developers seeking to remake a blighted section of Fells Point said they will need to relocate merchants from part of the community-oriented Broadway Market in order to make the space available for one or two larger retail or restaurant users.

The principals of South Broadway Properties LLC said they have been working with officials from the Baltimore Public Markets Corp. and have promised to replace, to the inch, the 4,339 square feet of tenant space now at the market's north shed along Broadway. To do that, they are considering options like expanding the south shed behind it or putting up a new building dedicated to the community market.


"That building itself, just the basic layout of the building, just does not work well for the rest of the block," said developer Dave Holmes, of South Broadway Properties LLC. Casper Genco, president of Baltimore Public Markets, which runs Broadway Market, could not be reached for comment. Genco has said at previous meetings he has talked with Holmes and partner Daniel Winner and supports revitalizing the market.

Baltimore City Councilman James B. Kraft, who has introduced legislation supporting a master plan for the development, said he does not care what specific uses go into the north market as long as the project's wider goal of revitalizing the neighborhood is accomplished as a result.

"I want it to be fresh, alive; I want it to open up that 600 block again," he said.

Holmes, of Blue Print Concepts, and Winner, of the Winner Construction Group Inc., expect to spend about $50 million on their Marketplace at Fells Point plans, which include more than the community market.

Other components of the project include: The demolition of several buildings in the 1600 block of Fleet Street for a 95-foot-high, 242-space parking garage; the rehabilitation of several other properties in the 600 block of Broadway; the demolition of properties by Regester Street for a 20-space parking lot; and improvements to the city's open plaza behind the Broadway Market's south shed.

The market features prominently in their plans, Holmes said, because the structure's layout stunts growth in the rest of the block. He said he is hoping renovations to the building, including adding a second floor to it, will help give the structure a more open look.

Holmes said rents from the north market's current tenants would not be sufficient to cover the cost of the work, and the only realistic way to recoup those expenses would be to find one or two strong retail tenants.

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Old April 25th, 2007, 02:01 PM   #3111
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the Gallery, Saks Fifth Avenue or Bloomingdale's in 300 East Pratt, Best Buy and Filene's Basement. We would finally have a shopping area downtown again.
Hear, hear. Throw in an iconic UnderArmor* store along Pratt on part of the Legg Mason tower block and a Target where the Hecht's used to be in the BoA building on the NW corner of Pratt and Charles and we'd really be cookin.'

*Was in the iconic NikeTown store on Newberry Street in Boston over the weekend. It's a three story advertisement for the brand, with a Boston Marathon motif. Very cool.
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Old April 25th, 2007, 04:31 PM   #3112
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I know there's a sports stadia development thread somewhere on this board, but I'm so freaking happy about this, I'm gonna post it here. My alma mater is finally upgrading Byrd Stadium!!!! I'm a HUGE Maryland fan. To help you all understand how cised I am about this...this is how I would feel if the final renderings of 10IH and 300EP being delivered on the same day.







Maryland's Byrd Stadium to Add Some Luxury

Wednesday, April 25, 2007; Washington Post Page E02

University of Maryland athletic officials yesterday unveiled details of a plan to add 64 luxury suites to Byrd Stadium, the first and most critical part of a proposed pay-as-you-go expansion project that would add new amenities and eventually raise the building's capacity to nearly 60,000.

The first phase of the project, which will cost the athletic department $50.8 million, will triple the size of the Tyser Tower complex on the stadium's south side and will include the new luxury suites, a larger press box, a new team store and more than 500 new mezzanine-level seats.

Construction is expected to start after the Terrapins play their final home game this season and last until just before the start of the 2010 season. A new LED video board, which is also part of the first phase of expansion, will be installed in the west end of the stadium before the start of this season.

"It is a truly exciting plan for us at Maryland," Athletic Director Debbie Yow said. "There will be something for everyone in the overall expansion, in the vision for what Byrd Stadium could be."

Revenue from a $20 million naming rights deal with Chevy Chase Bank signed last August will cover part of the cost of the Tyser Tower expansion. The remainder will be funded through a $35 million loan to the athletic department by the University System of Maryland and through private donations.

Officials plan to use the revenue from the sale of the luxury suites, which start at $40,000 apiece, to repay the loan and help fund the completion of the remaining phases of the proposed larger expansion and renovation project.

"These phases will only be initiated, and we will only seek approval for this campus, once we identify the funding sources for them," Yow said.

Those plans call for the addition of safety railings in the stadium's existing lower bowl, lowering the playing field to improve the sight lines of the first 10 rows, the addition of restrooms and concessions on the stadium's south side and chair-back seating on the second tier of seats on the north side.

The final phase of expansion calls for the construction of a two-tiered seating structure that would wrap around the stadium's west end, similar to the one that stands on the north end. Plans also include an expansion to the Gossett Football Team House and the installation of synthetic turf to replace the natural grass playing field.

Yow said the school has received 10 commitments for the luxury suites.

Terrapins Note: Cornerback Richard Taylor may be sidelined for the season, pending an examination of his injured left knee. Coach Ralph Friedgen said Taylor will undergo arthroscopic knee surgery to determine whether the anterior cruciate ligament is sprained or torn.

-- Marc Carig,
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Old April 25th, 2007, 05:02 PM   #3113
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[QUOTE=waj0527;12833142]I know there's a sports stadia development thread somewhere on this board, but I'm so freaking happy about this, I'm gonna post it here. My alma mater is finally upgrading Byrd Stadium!!!! I'm a HUGE Maryland fan. To help you all understand how cised I am about this...this is how I would feel if the final renderings of 10IH and 300EP being delivered on the same day.

Good stuff, but we gotta get Ralph on SlimFast and a StairMaster. If his ticker gives out, the Terps will be (once again) playing Triple-A ball (only now) in a major league facility.
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Old April 25th, 2007, 05:24 PM   #3114
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Hear, hear. Throw in an iconic UnderArmor* store along Pratt on part of the Legg Mason tower block and a Target where the Hecht's used to be in the BoA building on the NW corner of Pratt and Charles and we'd really be cookin.'

*Was in the iconic NikeTown store on Newberry Street in Boston over the weekend. It's a three story advertisement for the brand, with a Boston Marathon motif. Very cool.

That would be the the Hutzler's not Hecht's. Oh how quickly we forget. Newberry Street in Boston is an established high end shopping area, we don't have anything like that in Mobtown and at the rate that greedy landowners and bumbling city development agencies are taking us, we probably never will!
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Old April 25th, 2007, 05:34 PM   #3115
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I know exactly how excited you are waj, im dissapointed its going to take so long to get it all done though. Glad to see it is on the agenda though.
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Old April 25th, 2007, 05:35 PM   #3116
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Good stuff, but we gotta get Ralph on SlimFast and a StairMaster. If his ticker gives out, the Terps will be (once again) playing Triple-A ball (only now) in a major league facility.
I hear ya. He actually lost weight a year or so ago. I forget how many pounds, but it obviously wasnt very substantial. A few of the high level donors bet him a set amount of money per pound he lost. They then donaterd it to his favorite charity.
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Old April 25th, 2007, 06:15 PM   #3117
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Does anybody know what is planned for the site in Canton on the southeastern corner of Dillon and Kenwood? It is immediately across the street from the back side of the Safeway and is presently hoime to a warehouse. Someone told me last night that there are plans there for a 7 story parking garage and residential structure.
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Old April 25th, 2007, 06:32 PM   #3118
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That would be the the Hutzler's not Hecht's. Oh how quickly we forget. Newberry Street in Boston is an established high end shopping area, we don't have anything like that in Mobtown and at the rate that greedy landowners and bumbling city development agencies are taking us, we probably never will!
Re: Hutzlers not Hecht's--good catch. Thanks, Hugh.

Re: Newberry Street--yeah, it'd be a tough act to follow, for a lot of reasons. Aliceanna from Harbor East to Fells Point holds out some intriguing long-term retail possibilities, if Struever/Paterakis are able to follow through with their plans. Not Newberry, maybe more like South Street in Philly.
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Old April 25th, 2007, 06:35 PM   #3119
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Do you mean Dillon and Lakewood? That's the street behind Safeway. Kenwood has houses at the SE corner.

A 7 story garage with residential would seem awkward to me.

Nate
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Old April 25th, 2007, 06:39 PM   #3120
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North Ave will be our Newberry St....one day.

Nate
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