The limits of office-to-residential conversions; Baltimore residents take recycling issue to court
Baltimore Business Journal
The Baltimore region's source for local business news & events. Part of the American City Business Journals network.
Good morning Baltimore!
It should be a gorgeous, albeit a bit chilly, first day of Spring. The vernal equinox arrives at 5:24 p.m. today. Temperatures will be in the mid-50s and sunny.
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City residents petition for weekly recycling pickup
Some Baltimore City residents have taken the issue of recycling pickup to court, WBAL-TV reports. One man, a Mount Washington resident, has filed a court petition to restore recycling pickup to once a week instead of the current every other week schedule that began several months after recycling pickup was suspended altogether in August 2020. The residents who have signed the petition believe the city is failing to provide expected civic services. Mayor Brandon Scott has said his administration is committed to resuming weekly recycling but that the Baltimore City Department of Public Works continues to struggle with staffing shortages and other challenges.
A Locust Point community garden's fate is in Under Armour's hands
As Under Armour prepares to move its headquarters from Locust Point to Port Covington ( Baltimore Peninsula ), the sportswear maker will need to make a decision about a small plot of land it owns that has served as a community garden for the last five years. Right now, the fate of the 60-bed Locust Point Community Garden at 1134 Hull St. is uncertain. The Locust Point Civic Association would like the purchase the land, but Under Armour has yet to give a formal timeline or commitment that the organization will be allowed a chance to purchase the property.
Maryland commits more money to K-12
With the end of Maryland's legislative session quickly approaching, lawmakers are making final changes to the state's $63.1 billion budget plan. Late last week they moved between $300 million and $400 million from proposed transportation funds to help implement the state's K-12 education funding law, the Blueprint for Maryland's Future. The money adds to the $500 million already set aside for the education law in Gov. Wes Moore 's original budget and is aimed at addressing a $1.4 billion shortage in the blueprint, starting in fiscal year 2027. The budget is making its way through both chambers after the House approved it Friday in a 131-5 vote, AP reports.
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The limits of office-to-residential conversions
Architecture company Gensler建筑设计事务所 has developed a tool to assess the qualities an office building needs to be successfully converted to residential use and found that just 30% of the buildings surveyed around the country are a fit. Gensler's study comes as office-to-residential conversions are one solution that has been proposed to help address vacant office space problems sweeping across cities. Pittsburgh Business Times has more on the story.
Local radio broadcaster cashes out stake in Maryland casino
Silver Spring media company Urban One Inc. is cashing out of its longstanding investment in MGM National Harbor to the tune of nearly $146 million. The payout would be more than triple the company's initial $40 million investment. Urban One, Inc , the largest radio broadcaster primarily targeting Black listeners in the country, made the move to add cash to its balance sheet amid a potential economic downturn. However, the cash out also comes as the company continues to pursue a casino of its own. Another interesting fact from this story: Last year, MGM National Harbor grossed $884.46 million in revenue for slots and table games, the most of any casino in the country outside of Nevada.
Here's how many shows CFG Bank Arena will host in year one
Baltimore's renovated CFG Bank Arena is expected to host 120 concerts and other events in its first year of operation, Baltimore Fishbowl reports. That amounts to about one show every three days. Performances range from big-name concerts like Bruce Springsteen and Lizzo to comedy shows, sporting events, family shows and more. Interested in catching a bunch of shows at CFG Bank Arena ? The arena is launching a VIP membership program.
Schools partner to offer new sustainability Masters degree
The University of Maryland Center for Environmental Science and Frostburg State University will offer a joint Master in Environmental Management in Sustainability degree for the fall of 2023. The program looks to train leaders to address sustainability challenges in the academic, government, nonprofit and private sectors, the schools announced in a press release.
D.C. frozen yogurt company lands $250K on 'Shark Tank'
A D.C. frozen yogurt company landed a deal on ABC's "Shark Tank" on Friday. Sweetkiwi came away with $250,000 in exchange for giving 16% equity to investor Robert Herjavec, the Washington Business Journal reported. Sweetkiwi was founded by Ehime Eigbe and her husband Michael Akindele and products can be purchased in 2,000 retail stores nationally, including Giant, Whole Foods, Walmart and Kroger.
This newsletter was written by Carley Milligan, Digital Editor at the Baltimore Business Journal. I can be reached at [email protected].