Baltimore, Maryland, December 19, 2025
Under Armour CEO Kevin Plank has stepped back from leading the Baltimore Peninsula development project to focus on the company’s resurgence. His partners will now guide the next phases of this 235-acre mixed-use initiative, which has seen slow progress since its inception in 2016. Bank OZK has taken ownership of undeveloped land, while existing developments will be managed by Hines. Mixed reactions have emerged from local business owners and residents regarding the project’s stagnation, with hopes that new leadership will reignite development efforts.
Baltimore Peninsula Development Faces Leadership Changes
Baltimore, Maryland – Under Armour CEO Kevin Plank has announced his withdrawal from the development plans for the Baltimore Peninsula, a significant mixed-use project in South Baltimore. Plank stated that he will focus on leading Under Armour’s resurgence while remaining invested in the project. His partners will now take the lead in advancing the next phases of the development.
The Baltimore Peninsula, formerly known as Port Covington, is a 235-acre development initiated in 2016 with ambitious plans to create a vibrant community featuring residential, commercial, and recreational spaces. Despite these plans, less than one-tenth of the area has been developed to date.
In response to the project’s challenges, Bank OZK, the project’s lender, has taken ownership of the undeveloped land. The existing developments, including residential units, office spaces, and retail establishments, will continue under the management of Hines, a global real estate firm.
Local business owners and residents have expressed mixed feelings about the project’s progress. While some are disappointed by the slow development, they remain optimistic about the area’s potential.
As Under Armour focuses on its core business, the future of the Baltimore Peninsula will depend on the new leadership’s ability to realize the project’s original vision and address the challenges that have hindered its progress.
Key Insights on Leadership Changes
The transition in leadership marks a significant moment for the Baltimore Peninsula’s future. Kevin Plank’s decision to step back could allow for fresh perspectives and renewed focus on the development’s goals. With partners stepping in, there is a hope that new strategies will emerge to address the slow pace of progress.
The Role of Bank OZK
Bank OZK’s acquisition of the undeveloped land illustrates the financial realities faced by large-scale projects. Their involvement introduces a potential shift in how the project is managed and delivered, which could lead to an acceleration of development efforts. Streamlining the management through established real estate firms like Hines may enhance operational efficiency and project execution.
Community Perspectives
Community sentiment remains mixed. Business owners have expressed frustration over the slower-than-expected development progress, which has delayed potential economic benefits for the local economy. However, many residents still see promise in the project’s vision, believing that a developed Baltimore Peninsula could become a community asset that enhances quality of life and economic opportunities.
Future Prospects
Looking forward, the success of the Baltimore Peninsula hinges on the new leadership’s ability to re-ignite the vision established in 2016. Addressing key challenges and fostering an environment conducive to investment and innovation will be critical. As the city of Baltimore continues to evolve, the Peninsula project could serve as a catalyst for growth and revitalization.
Frequently Asked Questions (FAQ)
What is the Baltimore Peninsula development?
The Baltimore Peninsula is a 235-acre mixed-use development in South Baltimore, formerly known as Port Covington. It aims to create a vibrant community with residential, commercial, and recreational spaces.
Why did Kevin Plank withdraw from the development plans?
Kevin Plank withdrew to focus on leading Under Armour’s resurgence while remaining invested in the project. His partners will now take the lead in advancing the next phases of the development.
What is the current status of the Baltimore Peninsula development?
Less than one-tenth of the area has been developed to date. Bank OZK has taken ownership of the undeveloped land, and existing developments are managed by Hines, a global real estate firm.
How have local business owners and residents reacted to the project’s progress?
Local business owners and residents have expressed mixed feelings. While some are disappointed by the slow development, they remain optimistic about the area’s potential.
What does the future hold for the Baltimore Peninsula?
The future of the Baltimore Peninsula will depend on the new leadership’s ability to realize the project’s original vision and address the challenges that have hindered its progress.
Key Features of the Baltimore Peninsula Development
| Feature | Description |
|---|---|
| Location | South Baltimore, Maryland |
| Size | 235 acres |
| Original Name | Port Covington |
| Development Status | Less than one-tenth developed |
| Management of Existing Developments | Hines, a global real estate firm |
| Ownership of Undeveloped Land | Bank OZK |
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