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Home»State»Maryland»Comment: Economist advises Gov. Wes Moore on Inner Harbor development

Comment: Economist advises Gov. Wes Moore on Inner Harbor development

delmarvatimes.comBy delmarvatimes.com14 March 2024No Comments4 Mins Read
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Comment: Economist Advises Gov. Wes Moore On Inner Harbor Development
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Aerial view of Baltimore’s Inner Harbor. Stock.adobe.com Photo by jonbilous.

Written by Anirban Basu

The author is chairman and CEO of Sage Policy Group in Baltimore.

Governor – I met him once and was very impressed. Like many people, my immediate reaction was to conclude that I had just met the future President of the United States. You will be the first president of Maryland. Virginia has produced eight.

I would love to see Marylanders at the White House. It would add to our state’s already long list of accomplishments. You have the resume, the charisma, the incredible memory for names, and the intelligence to not only succeed in the presidential race, but to be a great president.

But to become president, he must govern Maryland well. Voters across the country will decide whether the state’s economy, which has been moribund for years, can be revived. They will also consider whether you can help rebuild the country’s most troubled metropolis.

This letter expresses my concern about the mistake you are about to make. You have taken a stand in favor of the Inner Harbor redevelopment proposal. According to various sources, Baltimore’s current mayor has hand-picked the developer, MCB Real Estate.

I have nothing against this developer having roots in Charm City, but Baltimore deserves an international design competition. As is often the case, insider trading and limited vision prevent elected officials from delivering the results expected for Baltimore.

To stage public involvement, the city provided developers $1 million to manage a process through which citizens could express what they wanted from Baltimore’s most visible public park. Among other things, the development calls for lane reductions as his two large apartment complexes are built along Wright Street. Developers are also demanding huge subsidies.

If it’s true that the developers took public opinion into account, then the public must say:

“Thank you very much for the opportunity to provide feedback on the redevelopment of the Inner Harbor. I think this is what we need. First, I want the majority of the park to be privatized. I would like to see them develop a huge apartment complex building that I would not be allowed to enter, unlike the existing pavilion that I was able to enter as a member. I would also like to see these high-rise apartment buildings with a view of the water for many people. It’s also important that it prevents you from creating value, thereby reducing the value of your investment. You don’t want it to create value as much as it extracts it.

“With the amount of public space we have left, we want the city of Baltimore, with its huge budget and minimal challenges, to subsidize the remaining public spaces. Oh, I don’t know, let’s say we gave them $400 million in grants.

“I don’t want to discuss wastewater management too much so as not to cause any discomfort. Yes, it’s a city issue and 900 apartments are being proposed, but I don’t want to spoil the collective atmosphere. Along those lines, I also don’t want any discussion about what will happen to the water quality in the Inner Harbor if a lot of construction materials are brought into the Inner Harbor.

“Finally, I’d be really happy if there were no lanes. The intersection of Wright and Platte would probably be fine. Also, don’t bother conducting a timely traffic survey. I like it when traffic jams happen unexpectedly!”

So if the developer proposed what is currently being offered, that’s what the public must have said. But as you can probably guess, the public probably isn’t saying that. No one said that. That’s the reason for this letter. The proposed project welcomes wealthy renters at the expense of the general public and visitors to the Inner Harbor. Demand huge public subsidies for poor cities. This is not good for a Democratic primary.

As importantly, proposed redevelopments have failed to deliver the economic benefits expected of these types of projects. Imagine what would happen if the redevelopment of the Inner Harbor focused primarily on shared family experiences along the waterfront. How many people from places like Washington and New York have the time and money to spend on the variety of family-friendly activities along the waterfront?

This has the potential for massive monetization, but the proposed development leaves much of that dynamic off the table. Governor, for your sake and for ours, please don’t let this happen.

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advises Comment development Economist Gov Harbor Moore Wes
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