BALTIMORE, MD-InterPark, a parking garage operator and developer from Chicago, has completed its purchase of 300 E. Pratt in downtown Baltimore--the best remaining developable parcel of open land in the city's Inner Harbor. InterPark plans to co-develop the site into a mixed-use project and it has enlisted Cushman & Wakefield to identify a development partner. The company has also retained Forum Studio of St. Louis to complete several design concepts for the site, ranging from such uses as hotel, residential, office, retail and parking.

The company has high hopes for the project and its place in the Baltimore skyline.

"The 300 E. Pratt site provides an incredible opportunity for the right development partner to create a signature mixed use facility in one of Baltimore's most prominent locations," said J. Marshall Peck, president of InterPark.

The vacant parking lot site at 300 E. Pratt St. was once home to the News American newspaper. UrbanAmerica, a New York City-based real estate firm, acquired the 1-acre property seven years ago for $28 million and planned to build a $250-million, condominium and hotel tower there. The recession caused the firm to scuttle the project, according to the Baltimore Sun.

Earlier this summer Interpark approached Baltimore Councilman William H. Cole IV about sponsoring an ordinance that will allow the company to operate the existing surface parking lot while it pursues development.

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300 E. Pratt Purchase Complete, InterPark Searches for Partner

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