BALTIMORE, MD – STV, a professional services firm that plans, designs and manages infrastructure projects across North America, celebrates the substantial completion of the first phase of Baltimore Peninsula, a 235-acre, mixed-use neighborhood in South Baltimore. One of the largest urban renewal projects in America, Baltimore Peninsula will create up to 14 million square feet of new office, retail and residential space, 2.5 miles of restored waterfront and 40 acres of parks and green space.
STV has played a key role in the development of Baltimore Peninsula for more than five years. The firm has served as civil-engineer-of-record and landscape-architect-of-record for the infrastructure design of Chapter 1B – the first major phase of the project, which comprises 1.4 miles of new streets to support the first 15 blocks of vertical development.
The development team includes MAG Partners, MacFarlane Partners, Sagamore Ventures and the Urban Investment Group within Goldman Sachs Asset Management (Goldman Sachs).
“The development is a transformative undertaking that will have a far-reaching positive impact on Baltimore, its economy and its future,” said Addison Palmer, RLA, LEED AP, STV vice president and principal in charge for the Baltimore Peninsula project. “Across the disciplines and services we provide, our goal is to develop a cohesive and vibrant community that provides more transportation options for more people, supports a clean environment and creates a united and thriving workforce.”
STV’s infrastructure design offers multi-modal transportation systems with pedestrian, bus and bicycle facilities, complemented by high-end street and sidewalk furnishings and pavers. Two blocks of street were designed with a curbless section – a first in Baltimore. Temporary street closures will allow this street to function as an urban plaza for festivals and events. STV also planned 6.1 miles of extensive new utility systems, 125 micro-bioretention stormwater treatment facilities, 285 street trees and 226 streetlights, pioneering a new lighting standard that is less disruptive to nocturnal bird nesting and migration.
The firm provided civil engineering services for two of the first five buildings of the development, which are now completed and occupied. 250 Mission is a mix-use building with residential units, retail and parking. Rye Street Market is a four-building complex that features an open-air market, retail and office space.
STV has a long history of using its full suite of services to support placemaking and development of cities, especially in areas experiencing rapid growth, supporting projects all the way from the early stages of master planning to realization and construction. In Baltimore, the firm has provided master planning and design services for several major invigorating land development projects, including the Brewer’s Hill Redevelopment, Westport Waterfront Development and Uplands Redevelopment, as well as traffic and highway planning for projects such as the Key Highway at Light Street Intersection Improvements and Section 100 I-95 Maryland.
About Baltimore Peninsula
Baltimore Peninsula is a 235-acre redevelopment project located on Baltimore City’s prime waterfront, featuring investments from Sagamore Ventures and the Urban Investment Group within Goldman Sachs Asset Management. As one of the largest urban revitalization efforts in the United States, Baltimore Peninsula will have a fundamental and far-reaching impact on Baltimore’s future. At completion, this transformative project will include: up to 14 million square feet of new, mixed-use development; 2.5 miles of restored waterfront; and 40 acres of parks and green space. The Baltimore Peninsula redevelopment is expected to generate fresh opportunities for innovation and entrepreneurship for Baltimore City residents and its local workforce.
About the Goldman Sachs Asset Management Urban Investment Group (UIG)
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of December 31, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 2001, the Urban Investment Group within Goldman Sachs Asset Management has committed over $14 billion through real estate projects, social enterprises and lending facilities for small businesses and students, creating economic value and opportunities for underserved communities and families. Follow us on LinkedIn.
About MAG Partners
MAG Partners is a woman-owned, urban real estate company with decades of experience developing impactful, iconic, large-scale projects throughout New York City. Led by MaryAnne Gilmartin, together the MAG Partners team has successfully designed, built and operated over 7 million square feet of office, residential and mixed-use projects, including over 2,000 units of housing, with a total value of over $4.5 billion. The firm believes and has proven that principles of beauty, diversity and sustainability create lasting value.
About MacFarlane Partners
MacFarlane Partners is a real estate investment and development firm that acquires, develops and manages properties on behalf of some of the world’s largest pension plans and institutions as well as for its own account. Founded in 1987, the firm pioneered the urban investment concept among institutional real estate investment managers in the 1990s and today is a leading investor in and developer of properties that promote smart growth, urban revitalization, sustainability and equitable development in urban and high-density suburban areas nationwide. It is headquartered in San Francisco and operates a regional office in Los Angeles.
