GSA Economic Catalyst Spotlight - Baltimore|
The U.S. General Services Administration (GSA) recently partnered with Baltimore Mayor Stephanie Rawlings-Blake and Nate Loewentheil, head of the President’s Task Force for Baltimore and senior advisor on the White House National Economic Council, to announce the sale of the Metro West facility in downtown Baltimore.
Early on, GSA worked hand in hand with the community to return this property to the city tax rolls and spur economic growth in downtown Baltimore. Leveraging the presence of the federal government as a catalyst for economic development in Baltimore is part of GSA’s nationwide commitment to communities.
The disposals of the Metro West Building, as well as the Appraisers Stores, are great examples of GSA’s proactive federal partnership in Baltimore. Regional Administrator Sara Manzano-Diaz led the coordinated GSA effort with key stakeholders that included the city of Baltimore, Baltimore Downtown Partnership, Baltimore Development Corporation, the University of Maryland and the Metro West Advisor Committee. Working together, GSA was able to have a positive economic impact on the city of Baltimore.
Metro West, a high profile 1 million square foot federal building, was successfully sold for $7.1 million. The Appraisers Stores, near the Inner Harbor of Baltimore, sold for $8.2 million and is slated to become a luxury apartment building. Both real estate properties were bought by private developers. The city of Baltimore will see the economic benefit with the return of these properties to the city’s tax roll.
But GSA’s impact in Baltimore goes beyond these two projects. By leading the efforts to reduce the federal government’s footprint through consolidations as well as through building investments, GSA is committed to Baltimore and its central business district:
U.S. Army Corps of Engineers
GSA and the U.S. Army Corps of Engineers (USACE) are working together to find a new location within the central business district of Baltimore to house the USACE’s 675 employees.
Multi-agency consolidation in Baltimore
An ongoing $8 million consolidation project will renovate tenant spaces to more efficiently utilize the G.H. Fallon Federal Building. Several agencies including Department of Transportation and U.S. Department of Agriculture will move from leased space into Fallon over the next three years.
$18.6M infrastructure re-investment in Fallon and Garmatz Federal Buildings
This construction project will provide business opportunities to local electricians, parking facilities and plumbers.
Through these efforts, GSA’s work as an economic catalyst is helping transform the city of Baltimore:
- Tax revenue through the sale and redevelopment of federal property – The Appraisers Stores and Metro West provide a catalytic benefit to the city’s redevelopment efforts, while also providing added tax revenue to the city.
- Economic multiplier – Federal employees use services and purchase products within the city, boosting economic investment.
- Rent revenue – Federal rent in leased space flows to entities that pay real estate taxes and reinvest in city development.
- Transportation revenue – Federal real estate locations are generally aligned with the existing transportation network, which supports increased ridership.
- Increases in sustainability – Policies including prioritizing existing buildings, encouraging use of public transportation, and promoting investment in energy efficient improvements help reduce our impact on the environment.
GSA’s Mid-Atlantic Region is proud of its work for federal agency customers and for communities. The work GSA does will continue to be an economic catalyst for the city of Baltimore and many others across the country.