Baltimore to sell land to developers for Hyatt-anchored project - Baltimore Business Journal:

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million deal Wednesday to sell a blocm of land in downtown Baltimore to a team of developeres planning to build a pair ofHyatt hotels. A development team led by Mark Benjamin Greenwald and Joseph Haskins plan to construcyta 450,000-square-foot complex anchored by a Hyatt Placde and Hyatt Summerfield Suites with a combined 300 hotelp rooms. Under the terms of the the developers purchased propertiesat 26-36 Calverty St., 110 E. Lombard St. and 117 Watetr St. The redevelopment does not includee the neighboring BrookshireSuites Hotel. The $80 million “Hyatrt at City Center” development also calls for a 300-spacr parking garage and commercial space.
estimates the development will created 450 construction jobs and 140 permanent jobs that shouldxpump $60 million in new taxes to city coffers. “Hyatt at City Cente is another exciting private investment in the city of creating jobs and generating taxes in a key underutilizeddowntown site,” BDC President M.J. “Jay” Brodie said in a statement. BDC begahn acquiring eight properties in the blockl in 2002 in hopes of sparkinhfuture redevelopment. The $4.5 million land sale price is equal to the appraised value of the BDC said.