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Old February 10th, 2007, 09:28 PM   #781
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I kind of like them both, I think easy access and arrangement of the site is the only critical issue at this point.

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Old February 10th, 2007, 09:37 PM   #782
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http://sanantonio.bizjournals.com/wa...5/daily54.html

Quote:
AvalonBay Communities has acquired the Centerpoint development on Baltimore's west side for $78.5 million, according to a company official. Alexandria-based Avalon Bay, a real estate investment trust, is making its first foray into the Baltimore market with the Centerpoint deal. It completed the deal with Bank of America last month.

The Centerpoint project takes up an entire city block starting from the intersection of Howard and Fayette streets and extending to Eutaw and Baltimore streets.

The project encompasses 17 properties that include nearly 60,000 square feet of retail space, 370 housing units and 450 parking spaces, according to the Maryland Department of General Services.

AvalonBay (NYSE: AVB) set its sights on the residential and retail development as an opportunity to take part in Baltimore's ongoing revitalization efforts, says John Christie, the company's director of investor relations.

He believes the west side in particular is gaining momentum as the city's efforts and those of the Baltimore Development Corp. help generate interest in projects such as Centerpoint.

"It looks like a neighborhood that's gentrifying and we saw an opportunity to jump in," Christie says. "You can't necessarily time it, but you get a pretty good sense of where the direction of growth is."
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Old February 10th, 2007, 10:37 PM   #783
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If a project goes from one tower to a multi tower design would you assume the buildings to be lower or less appealing?
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Old February 12th, 2007, 12:52 AM   #784
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Originally Posted by rxsoccer View Post
Given that someone recently stated they heard rumors the construction was way behind schedule, I wonder if that is impacted sales at all. I would imagine, if they are unable to convince potential conferences that they will be ready for them, it would cause some hesitation for booking.
Also, in my opinion, 2008 has no relation to the hilton since even if its done on time, it won't be until late 4th qtr so any lack of bookings is completely unrelated. Someone should figure out why booking rates are down though.... maybe its because maryland hates business? They must be all booking in Charlotte....(sorry, couldn't resist).
Thats a good one.

So tell me its been over 30+ years since the Baltimore Bullets ran out of Baltimore to set up shop in DC. Charlotte lost the Hornets to New Orlenes but received a replaced team called the Bobcats. Its been 30+ years since Baltimore not received another NBA Team. I can go on, but the point is B'more has a Very long history of being anti-Business which stems from selfish communist beauracratic city/state politicians.
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Old February 12th, 2007, 02:23 AM   #785
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after a full day of not being able to log in to SSC, we get hit with this news.........
BCCC ponders sale of campus
College seeks 'bang for buck' as it examines selling its downtown site
By Jill Rosen
Sun reporter
Originally published February 11, 2007
In a move that could remake a key leg of downtown, Baltimore City Community College is considering putting its Inner Harbor campus on the market.

Faced with cramped, aging buildings, a desire to expand and a shortage of money, the school's leaders are investigating whether the answer to those problems lies in selling the valuable Lombard Street site. They've convened a real estate task force and hope to soon hire a consultant to help them realize the property's "fullest commercial potential."

"We're trying to figure out how to get the biggest bang for the buck, quite frankly," said Garland O. Williamson, chairman of BCCC's board of trustees. "We know we need to be creative."

BCCC's tiny Inner Harbor campus is little more than a building and a lawn. But development experts can't say enough about its possible value - sitting right on Lombard Street only a block from the water and steps from some of downtown's top attractions.

"If they weren't there, it would be an interesting piece of real estate," Baltimore Development Corp. President M.J. "Jay" Brodie said. "But that's a decision they have to come to themselves."

This is not the first time BCCC has weighed the benefits of its downtown location - an ideal site for the school's work force training mission - against the property's market value.

A decade ago, the General Assembly allowed the school to shop its Lockwood Building site on Pratt Street. The college ended up leasing the prominent property to developers who built Lockwood Place, a shopping center that only now is taking off with tenants, including Best Buy, Filene's Basement and some chain restaurants.

The arrangement brings the college more than $1 million a year in rent - money that helps pay for programs and faculty.

BCCC's top officials, including new President Carolane Williams and Williamson, say that as the school celebrates its 60th anniversary this year, it's time to ask some tough questions - primarily how the school can improve itself.

"If we want to become a world-class institution, we have to have a world-class facility," Williamson said. "We don't have that right now, but we have lots of potential."

With the success of Lockwood Place on their minds, the officials suspect a similar deal could help the school get closer to its goal. Specifically, such an arrangement could finance the construction of new class buildings either downtown or elsewhere in Baltimore.

"We want to think about a project that can produce the same kind of benefit [as Lockwood Place] and maybe even more," Williamson said.

The college, its administrators say, is bursting at the seams. Its main campus in Liberty Heights is built out. And the downtown branch is a problem-laden building that sits smack in the middle of one of the city's most desirable areas.

The harbor campus' main feature is the Bard Building, a forgettable dark-brick structure built in 1977 that's afflicted by mold, water damage, an unpredictable elevator system and, as Williamson puts it, "not the most efficient design to provide educational services."

Beyond the $10 million in needed repairs, the Bard is also, many point out, something less than attractive.

In 2005 while touring Baltimore, urban design critic James Howard Kunstler had nothing good to say about either the Bard Building or the Holocaust Memorial next door - a site the college also owns and leases to the Baltimore Jewish Council.

The memorial he deemed "ugly and brutal." And that was complimentary compared to his view of the Bard: A "truly revolting" building, a "monstrosity."

"This is the most baleful, despotic building I've ever seen in my life," Kunstler concluded.

Downtown Partnership President Kirby Fowler politely says that Bard's design has "significant drawbacks, particularly from a street-level perspective." Though he doesn't relish the idea of the college's leaving the city center, like other downtown boosters, Fowler thinks the city can make better use of the site.

Though the college has agreed to a long-term lease for the grassy memorial site, Williamson said that if a development opportunity came along for it, he'd want to sit down with the Jewish Council and try to work out a deal.

"We want to ensure that BCCC stays downtown because it brings a lot of students as well as energy," Fowler said. "Whether BCCC needs to be on its current site or not is another question."

The college's leaders say they've made no decision about staying downtown.


"Our mission is very flexible," says Katrina R. Riddick, a trustee who's overseeing the real estate task force.

Williamson adds: "It's not a matter of being over here or over there - we can be anywhere in the city."

Though the college values being downtown, with its public transportation options for commuter students and variety of hands-on job-training opportunities, its leaders like the idea of moving to a struggling part of town to help revitalize it. The college has approached city officials to ask about vacant, city-owned sites, particularly schools.

Douglas McCoach, the city's new planning director, said the college is in a position to choose from any number of "very exciting opportunities." He thinks the Lombard Street site could be right for anything from an entertainment venue - to blend in with the Power Plant Live venues next door - to something residential, joining the condominiums rising just behind it on Water Street.

Maybe, he said, the school could even stay and share the site with something new.

"It's not surprising that this is looking like a development potential," McCoach said. "They're sitting on a very valuable piece of property."

Development consultant Al Barry, who said he's not competing for the job to advise the college, suggests that the college think about a project that would include a number of uses - a popular building trend that city officials favor.

To make the most money, Barry said, the school would have to leave the site.

Baltimore developer David Cordish, who developed the Power Plant and bid unsuccessfully for BCCC's Lockwood site, has an obvious interest in the school's real estate plans.

"Clearly the Baltimore City Community College would benefit from a different location, and the city would benefit from a more intense development of the community college building," he said. "The building is functionally and physically obsolete and will take a fortune to rehabilitate. ... The money would be better spent on a new facility."

David H. Hillman, who has developed a number of downtown apartment buildings, said he thinks the college should find someone to develop a high-rise on its site and then negotiate to use a number of floors in the new building for the college.

As for the rest of the building, he thinks an office or a hotel would blend well with the area.

"My bet would be a hotel. You might struggle for a little while, but with the office development on that end of town, and being so close to Power Plant Live, I think a moderate-priced hotel would be the right thing," he said. "And the college could work out some deal for conference facilities and things like that."

BCCC officials say they are going to spend the next few months studying possibilities and making some serious decisions. Do they move? If so, where? And if they do, what exactly would wring the most value from the downtown site?

"We haven't made up our mind about anything," Williamson said. "We haven't taken anything off the table, and we haven't put anything on the table."


i think we need to keep a good eye on this news. it could be the start of another skyscraper. stay tuned.........
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Old February 12th, 2007, 02:27 AM   #786
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BCCC ponders sale of campus

In a move that could remake a key leg of downtown, Baltimore City Community College is considering putting its Inner Harbor campus on the market.

Faced with cramped, aging buildings, a desire to expand and a shortage of money, the school's leaders are investigating whether the answer to those problems lies in selling the valuable Lombard Street site. They've convened a real estate task force and hope to soon hire a consultant to help them realize the property's "fullest commercial potential."

"We're trying to figure out how to get the biggest bang for the buck, quite frankly," said Garland O. Williamson, chairman of BCCC's board of trustees. "We know we need to be creative."

BCCC's tiny Inner Harbor campus is little more than a building and a lawn. But development experts can't say enough about its possible value - sitting right on Lombard Street only a block from the water and steps from some of downtown's top attractions.

"If they weren't there, it would be an interesting piece of real estate," Baltimore Development Corp. President M.J. "Jay" Brodie said. "But that's a decision they have to come to themselves."

This is not the first time BCCC has weighed the benefits of its downtown location - an ideal site for the school's work force training mission - against the property's market value.

A decade ago, the General Assembly allowed the school to shop its Lockwood Building site on Pratt Street. The college ended up leasing the prominent property to developers who built Lockwood Place, a shopping center that only now is taking off with tenants, including Best Buy, Filene's Basement and some chain restaurants.

The arrangement brings the college more than $1 million a year in rent - money that helps pay for programs and faculty.

BCCC's top officials, including new President Carolane Williams and Williamson, say that as the school celebrates its 60th anniversary this year, it's time to ask some tough questions - primarily how the school can improve itself.

"If we want to become a world-class institution, we have to have a world-class facility," Williamson said. "We don't have that right now, but we have lots of potential."

With the success of Lockwood Place on their minds, the officials suspect a similar deal could help the school get closer to its goal. Specifically, such an arrangement could finance the construction of new class buildings either downtown or elsewhere in Baltimore.

"We want to think about a project that can produce the same kind of benefit [as Lockwood Place] and maybe even more," Williamson said.

The college, its administrators say, is bursting at the seams. Its main campus in Liberty Heights is built out. And the downtown branch is a problem-laden building that sits smack in the middle of one of the city's most desirable areas.

The harbor campus' main feature is the Bard Building, a forgettable dark-brick structure built in 1977 that's afflicted by mold, water damage, an unpredictable elevator system and, as Williamson puts it, "not the most efficient design to provide educational services."

Beyond the $10 million in needed repairs, the Bard is also, many point out, something less than attractive.

In 2005 while touring Baltimore, urban design critic James Howard Kunstler had nothing good to say about either the Bard Building or the Holocaust Memorial next door - a site the college also owns and leases to the Baltimore Jewish Council.

The memorial he deemed "ugly and brutal." And that was complimentary compared to his view of the Bard: A "truly revolting" building, a "monstrosity."

"This is the most baleful, despotic building I've ever seen in my life," Kunstler concluded.

Downtown Partnership President Kirby Fowler politely says that Bard's design has "significant drawbacks, particularly from a street-level perspective." Though he doesn't relish the idea of the college's leaving the city center, like other downtown boosters, Fowler thinks the city can make better use of the site.

Though the college has agreed to a long-term lease for the grassy memorial site, Williamson said that if a development opportunity came along for it, he'd want to sit down with the Jewish Council and try to work out a deal.

"We want to ensure that BCCC stays downtown because it brings a lot of students as well as energy," Fowler said. "Whether BCCC needs to be on its current site or not is another question."

The college's leaders say they've made no decision about staying downtown.

"Our mission is very flexible," says Katrina R. Riddick, a trustee who's overseeing the real estate task force.

Williamson adds: "It's not a matter of being over here or over there - we can be anywhere in the city."

Though the college values being downtown, with its public transportation options for commuter students and variety of hands-on job-training opportunities, its leaders like the idea of moving to a struggling part of town to help revitalize it. The college has approached city officials to ask about vacant, city-owned sites, particularly schools.

Douglas McCoach, the city's new planning director, said the college is in a position to choose from any number of "very exciting opportunities." He thinks the Lombard Street site could be right for anything from an entertainment venue - to blend in with the Power Plant Live venues next door - to something residential, joining the condominiums rising just behind it on Water Street.

Maybe, he said, the school could even stay and share the site with something new.

"It's not surprising that this is looking like a development potential," McCoach said. "They're sitting on a very valuable piece of property."

Development consultant Al Barry, who said he's not competing for the job to advise the college, suggests that the college think about a project that would include a number of uses - a popular building trend that city officials favor.

To make the most money, Barry said, the school would have to leave the site.

Baltimore developer David Cordish, who developed the Power Plant and bid unsuccessfully for BCCC's Lockwood site, has an obvious interest in the school's real estate plans.

"Clearly the Baltimore City Community College would benefit from a different location, and the city would benefit from a more intense development of the community college building," he said. "The building is functionally and physically obsolete and will take a fortune to rehabilitate. ... The money would be better spent on a new facility."

David H. Hillman, who has developed a number of downtown apartment buildings, said he thinks the college should find someone to develop a high-rise on its site and then negotiate to use a number of floors in the new building for the college.

As for the rest of the building, he thinks an office or a hotel would blend well with the area.

"My bet would be a hotel. You might struggle for a little while, but with the office development on that end of town, and being so close to Power Plant Live, I think a moderate-priced hotel would be the right thing," he said. "And the college could work out some deal for conference facilities and things like that."

BCCC officials say they are going to spend the next few months studying possibilities and making some serious decisions. Do they move? If so, where? And if they do, what exactly would wring the most value from the downtown site?

"We haven't made up our mind about anything," Williamson said. "We haven't taken anything off the table, and we haven't put anything on the
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Old February 12th, 2007, 02:39 AM   #787
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NEW TOWER??? MAYBE NEW TALLEST???

If the building gets sold do you think we can expect an additional tower? The foot print of the existing building isn't very big, but if you add the additional space that is being occupied by the Holocaust memorial what size tower could conceivable be build there? I believe it would be a great location for a new mixed use tower. Combining retail, restaurants, hotel, office, residential and space for the college to continue holding classes. If all of these components were part of a new tower it would be pretty significant in the skyline. Is this wishful thinking or could it become reality if all the pieces came together? Just curious to see what everyone's opinion is.
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Old February 12th, 2007, 02:53 AM   #788
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I would never live on Market Place, but that's just me. Possibly hotel....certainly not office. Not in our current market.
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Old February 12th, 2007, 02:58 AM   #789
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Quote:
Originally Posted by Balmurfan View Post
The foot print of the existing building isn't very big.
It is, actually. Close to 40,000 square feet. I'm sure it's fit for a new building. If only the city moved that morbid wreck next door to a more suitable location...
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Old February 12th, 2007, 04:15 AM   #790
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I really like the idea proposed by David Hillman. A hotel would fit in well with the entertainment atmosphere of the surrounding areas, and the city's "Hotel Row" is right along those streets anyway. There are a lot of amenities that a college and a hotel could share as well. More and more colleges are adding amenities such as restaurants, lounges, and even salons and coffee shops. The idea that the college could share conference space, possibly even an auditorium with the hotel also seems like a bright idea.
Also, Market Place might not seem like a great location for residential right now, but with 414 Water St. finishing up, 701 E. Baltimore St. on the boards, and possible residences on the BCCC site, the area could change its face very drastically in the coming years. Personally, I think it would be a good thing. Right now, Power Plant Live is too much of a product. It still feels right out of the box. I'd like to see the area keep its role as an entertainment district, but also become a neighborhood. I think the two could play off each other very well.
If the West Side takes on the hip, trendy image many are predicting it will, and the Market Place area bookends downtown on the other side with a similar feel, that atmosphere might spread throughout downtown, making it much more lively and exciting.
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Old February 12th, 2007, 05:27 AM   #791
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Originally Posted by Balmurfan View Post
If the building gets sold do you think we can expect an additional tower? The foot print of the existing building isn't very big, but if you add the additional space that is being occupied by the Holocaust memorial what size tower could conceivable be build there? I believe it would be a great location for a new mixed use tower. Combining retail, restaurants, hotel, office, residential and space for the college to continue holding classes. If all of these components were part of a new tower it would be pretty significant in the skyline. Is this wishful thinking or could it become reality if all the pieces came together? Just curious to see what everyone's opinion is.
There's plenty of space there for a tall building as long as the developer isn't concerned to have a big windy plaza like some buildings. The site would have a great view that is unlikely to be blocked by a subsequent building. It's next to the subway and has nearby parking garages. I think it is wishful thinking but that's not necessarily unrealistic. It will probably take time for this to germinate but it's a great property that could accomodate something pretty big.
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Old February 12th, 2007, 05:36 AM   #792
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Kuntsler never fails to crack me up.....!

I think I agree with Hillman, I'd like the college to stay downtown. Make better use of the space (this should be axiomatic).

Nate
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Old February 12th, 2007, 05:38 AM   #793
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.....Also, Market Place might not seem like a great location for residential right now, but with 414 Water St. finishing up, 701 E. Baltimore St. on the boards, and possible residences on the BCCC site, the area could change its face very drastically in the coming years. Personally, I think it would be a good thing. Right now, Power Plant Live is too much of a product. It still feels right out of the box. I'd like to see the area keep its role as an entertainment district, but also become a neighborhood. I think the two could play off each other very well.
If the West Side takes on the hip, trendy image many are predicting it will, and the Market Place area bookends downtown on the other side with a similar feel, that atmosphere might spread throughout downtown, making it much more lively and exciting.
I can see Market Place being a residential destination by the time the BCCC project gets underway. As retail develops, it will have, within walking distance, a supermarket and upscale booze (Whole Foods and the store next door), gadgets (Best Buy), legal drugs (several pharmacies in the area), clothes (Filene's Basement), Books (Barnes and Noble) plus oodles of restaurants. That's more than many city neighborhoods can offer.
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Old February 12th, 2007, 05:41 AM   #794
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FREEDOM OF SPEACH.
As a social studies teacher (and by reality a writing instructor), this REALLY troubled me... but I kept quiet. However, after your last post I have to say... NOWHERE in the Constitution is there mentioned a freedom of "speAch." However... in the First amendmenent they do happen to mention "FREEDOM OF SPEECH." If I was bitchy... to the rest of the forumers, please excuse me!
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Old February 12th, 2007, 06:32 AM   #795
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Freedom of speech doesn't even apply to privately held boards.
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Old February 12th, 2007, 06:59 AM   #796
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I am not sure I understand the reasons why condos/apartments wouldn't be a good idea on the site where the BCCC now sits. At one point there was a proposed apartment tower that was going to be part of Loockwood Place and Cordish is going to build condos/apartments at Power Plant live so why would they not work there?
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Old February 12th, 2007, 07:10 AM   #797
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H&S Properties buys land for Harbor Point

H&S Properties Development Corp. has paid $7.3 million for a sliver of the former Allied Signal chrome plant along Baltimore's Inner Harbor, signaling the developer is ready to begin construction of the long-awaited, $750 million project.

While H&S Properties and partner Struever Bros. Eccles & Rouse Inc. are prepared to proceed with offices, condominiums, parking garages and a hotel that are expected to comprise Harbor Point, complicated environmental problems could hinder the pace and cost of development.
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Old February 12th, 2007, 07:30 AM   #798
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Memorial + BCCC building

The memorial along with the BCCC building is a sizeable piece of land, but I doubt there is anyway we could squeeze a new arena onto it. Ideas anyone?
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Old February 12th, 2007, 11:44 AM   #799
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Baltimore City Community College's Lombard Street campus is in the middle of increasingly valuable real estate, which along with unsuitable building conditions, is making officials consider a sale.
(Sun photo by Amy Davis)
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Old February 12th, 2007, 12:07 PM   #800
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Cordish Co. invests $50M in risky restaurant business
Baltimore Business Journal - February 9, 2007by Julekha DashStaff
Nicholas Griner | Staff

Ambitious young chefs have great ideas about marrying flavors to create the latest fusion cuisine.

But too often they do not know the first thing about the business side of running a restaurant, Cordish Co. Vice President Reed Cordish said.


That is where Cordish is stepping in. Long known as a leader in redeveloping old city sites into thriving destinations -- Power Plant and Power Plant Live in Baltimore to name a few -- the family-owned company has a knack for attracting some of the biggest restaurant names. The company lured Hard Rock Cafe and the nation's first ESPN Zone to Baltimore.

But now Cordish has gone beyond the role of landlord and is owning and operating the restaurants themselves. In most cases, it does so by partnering with a chef or company.

In the past four years, Cordish has invested more than $50 million in 30 restaurants and clubs open or under development in Houston, Kansas City, Mo., Louisville, Ky., Orlando, Fla., and Baltimore. The company will open eight or nine new restaurants this year and at least 10 per year during the next several years, investing at least $50 million per year. The company has hired the former president of the Cheesecake Factory, Peter J. D'Amelio, to head the group starting in March.

"We're risking the family's capital to create something other people deem too difficult to execute," Cordish Vice President Jonathan Cordish said.

New restaurants abound
Four years ago, Cordish started an affiliate company, Entertainment Concepts Investors LLC, to operate restaurants, clubs and other entertainment venues. Entertainment Concepts employs 1,000, or one-third of Cordish's total staff, in Baltimore and regional offices in Houston, Kansas City and Louisville.

The company plans this year to take two of its local concepts, upscale Towson restaurant Vin and casual Power Plant eatery Mex, to other cities. Cordish is opening a second Vin in Houston and Vinino, a casual version of the concept, in Kansas City, where it will also open a second Mex.

Other restaurant deals include:

NASCAR Sports Grille at Universal CityWalk in Orlando, which will open Feb. 14, and a second one in Myrtle Beach, S.C., to open in the summer. Cordish is pouring $5 million to revamp each restaurant and plans to do one new NASCAR Sports Grille thereafter through a licensing agreement with NASCAR.
A two-level restaurant and wine bar inside a historic movie theater in Kansas City that Cordish and AMC Entertainment Inc. are renovating. The restaurant is part of a $60 million joint venture with AMC to transform two theaters into an expanded entertainment district.
A second Maker's Mark Bourbon House & Lounge in Kansas City. It operates one already at Fourth Street Live, in Louisville, Ky., under a licensing agreement with the bourbon company.
In March it will re-open Mosaic Lounge at Power Plant Live, making the former outdoor, seasonal lounge into a year-round wine bar in space previously occupied by Bar Baltimore. In partnership with local club DJ L.G. Concannon, Cordish is opening a second Mosaic in Kansas City's Power&Light District.
A 'multibillion-dollar' business
Most real estate companies stay away from the restaurant industry because it is so labor intensive, which makes Cordish's involvement in the industry somewhat unusual, retail experts say.

"Restaurants are the exact opposite of development," Reed Cordish said. You can do a lot of development with few people, but in the restaurant industry, people make or break the business.

But if a real estate firm can make it work, the restaurant industry, growing at 5 percent a year in the U.S., can be profitable.


"It's far more profitable than merely leasing a restaurant," said Ron Paul, president of Chicago restaurant consulting firm Technomic Inc. A developer that makes anywhere from six to 10 percent of its revenue from rent can add another 5 percent of revenue by making money from the restaurant itself.

U.S. restaurants made $323 billion in 2006.

More than two-thirds of restaurants fail, in many cases because the owner lacks the resources to make it a success. But in the case of Cordish, executives at the family-owned real estate firm believe they can thrive in a risky industry because it already has real estate, design and construction expertise: among the biggest obstacles for new restaurant owners.

"Development is one of the hardest parts of building a restaurant company," D'Amelio said. "It's a huge part of the puzzle laying at our footsteps."

As a private company, Cordish officials say they will not divulge revenue for the company overall or its restaurant affiliate. But Reed Cordish said Entertainment Concepts is profitable. Cordish's Web site calls the firm a "multibillion-dollar conglomerate."

Even though most of Entertainment Concepts' restaurants are in Cordish properties, it does not get free rent. Reed Cordish said the restaurant affiliate pays market rate rents to the Cordish Co.

In the case of Power Plant Live, Entertainment Concepts pays $30 per square foot to Cordish, which retail experts say is the going rate for that area.

If hiring a former Cheesecake Factory executive is any indication, Cordish Co. is thinking big. Each Cheesecake Factory restaurant garners $970 per square foot, more than twice the industry average, and $11 million in revenue, about three times the industry average.


The Cheesecake Factory is "about the toughest restaurant you could find to operate," said Sharon Zackfia, a restaurant analyst at William Blair & Co. LLC, a Chicago investment firm. That is because of the sheer size of the eateries, at about 11,000 square feet, and the number of menu items, about 200. Each restaurant serves more than 1,700 guests per day.

Sharing the risks, rewards
Cordish officials could not go into details about many of its corporate partnerships. But in the case of AMC, each partner is footing half the investment. Each company gets half the revenue and ownership.


When it partners with an entrepreneur, like Vin Chef Chris Paternotte, Cordish pays him a salary and then a percentage of the net income, depending on how much the individual invests in terms of time and money.

The Cordishes compare their role in these partnerships to that of an incubator of sorts. Cordish provides accounting, marketing, administrative and, of course, real estate support.

But partnering with an individual or company carries some risk if the partnership goes sour.

One example is Cordish's conflict with the Seminole Tribe of Florida. The Seminole sued Cordish over two Hard Rock Hotels and Casinos in Florida that the tribe operates, alleging that Cordish has an illegal ownership stake in the casinos.

After an unsuccessful bid to purchase the entire Hard Rock Cafe chain, the firm sued Hard Rock Cafe International Inc. and the Seminole Tribe, alleging the two colluded to leave it out of the bidding process.

Reed Cordish said he cannot comment on an ongoing lawsuit.
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