BALTIMORE—Local development firm Cordish Cos. has begun preliminary talks with the city to build a $450-million arena in the Inner Harbor.
A presentation about the plan that calls for a 15,000-seat facility was made to the Greater Baltimore Committee recently, according to the Baltimore Sun. Blake Cordish, a vice president with the development firm, says the plan for piers 5 and 6 calls for further expansion.
Cordish owns the Power Plant Live! complex, Maryland Live! casino, and operates s the Pier 6 concert pavilion. The Paterakis family, which developed Harbor East, would partner with the Cordish Cos. on the project.
"We love our hometown and see a once-in-a-generation opportunity to create an iconic waterfront arena that would be a game changing project for the city," Cordish states.
The plan would also include an outdoor amphitheater and pedestrian walkway spanning the Inner Harbor.
"Obviously, the building of a bridge or arena would require a public/private partnership, but we are optimistic that the public subsidy for this particular location can be limited to incremental revenue that is created by the project," Cordish says. "As to subsidy, this particular site is so prominent that the naming rights opportunity will be maximized." See story in the Baltimore Sun.
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