Corner of York and Towsontown
Towson Row, the long-stalled development at the corner of York Road and Towsontown Boulevard, could receive county grants as the project moves forward, Baltimore County officials said Friday.
The county said that Greenberg Gibbons, the new developer behind the project, will forego the Commercial Revitalization tax credits it’s entitled to and will instead get $26.5 million up front from the county.
Additionally, the county will give the developer a $16.4 million grant that will be paid back through the hotel occupancy tax.
Towson Row will be a 5-acre mix of apartments, student housing, a hotel, office and retail space. The original developer was Caves Valley Partners, but they ran into issues when they discovered too much rock under the site to allow for their proposed underground parking garage. In May, Caves Valley announced it was partnering with Greenberg Gibbons on the project. Greenberg Gibbons, who is now leading the Towson Row project, is the firm behind The Shops at Kenilworth, Hunt Valley Towne Centre and Foundry Row.
Caves Valley is the developer behind the controversial Royal Farms project at York Road and Bosley Avenue.
Site of the future Towson Row
In the same news release, the county said it hired the Sage Policy Group to study the impact of Towson Row and found that
- Towson Row will create 2,000 permanent jobs, and 3,500 temporary construction jobs
- During the construction phase, Baltimore County will see $490 million in business sales and $185 million in labor income
- When fully occupied, the development will generate over $220 million in Baltimore County business sales each year, plus $92 million in annual employee compensation
- Towson Row will support more than $3.2 million in annual Baltimore County tax revenues by fiscal year 2022 and grow to more than $4.7 million a year by fiscal year 2040. Current annual property taxes on the undeveloped land are $145,000
The grants must be approved by the county council.
Councilman David Marks, who represents the area, and Greenberg Gibbons chairman/CEO Brian Gibbons were not immediately available for comment; this story will be updated.
David Marks and Jim Brochin have always been pragmatic when it comes to answering constituents in the Towson area as it pertains to roads and and general infrastructure conditions. They continue to have to beat their heads on the proverbial block wall in attempting to get the Kamenetz Regime to answer questions on when Towsontown Blvd, Bosley Ave, Register Ave, Stevenson Lane, will be repaved (Mr. Marks) and potholes patched on Ruxton Rd, Old Court, Providence (by Baltimore County Police/Fire HQs), Goucher from Joppa to Putty Hill repaved, on and on (Senator Brochin up against the SHA, which is usually very responsive). Road conditions in Towson, the County Seat and high-end demographics, are an embarrassment. Mr. Kamenetz is the source for almost all of this red tape. And take a look at roadside grass cutting the last two years on county property. Towson Row needs to happen. But, until the local and state highway departments commit to maintain our vital roads like it was a short 15-20 years ago, and not paint bike logos on pavement that hasn’t been touched in forever.,zzzzzThe Colonel strongly encourages readers to contact elected officials to fill the potholes just by Providence Road between Joppa and Goucher. All those daily commuters and with Stanley BD up the hill, something needs to be done.
Did the Sage Policy Group’s study predict the impact of traffic in the area? It should be of concern to Towson and the County as it is to me, a local commuter. Also, Towsontown Boulevard, east of the York Road intersection, past the library, is in terrible shape due to long past construction. Will it be repaired?