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.
In the same news release, the county said it hired the Sage Policy Group to study the impact of Towson Row and found that
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.