Baltimore, Maryland, January 15, 2026
Baltimore is investing over $3 billion into its waterfront development, covering 231.5 acres. Key projects include the Harborplace redevelopment, affordable housing initiatives, and the establishment of new employment hubs. This ambitious plan seeks to revive downtown living and commerce through public-private partnerships, aiming for extensive improvements and vibrant urban spaces over the next decade.
Baltimore’s $3 Billion Waterfront Transformation Underway
Baltimore, Maryland – A series of major mixed-use real estate projects are reshaping Baltimore’s historic waterfront, with over $3 billion invested across 231.5 acres. These developments aim to enhance downtown living, commerce, and recreation through public-private partnerships.
Harborplace Redevelopment
The Harborplace redevelopment, led by MCB Real Estate, is set to begin in the fall of 2026. This $900 million project will span 20 acres and include four buildings comprising 900 apartments and over 200,000 square feet of commercial space. The redevelopment is expected to be completed by 2031.
Affordable Housing Initiatives
In January 2026, Baltimore issued $28.8 million in City-Wide Affordable Housing Tax Increment Financing (TIF) Bonds, receiving offers worth $389 million. This initiative is part of Mayor Brandon M. Scott’s 15-year, $3 billion plan to reduce vacant properties and revitalize neighborhoods.
New Employment Hub in Reservoir Square
MCB Real Estate has broken ground on a $44 million civic project within Reservoir Square, a $170 million mixed-use development in West Baltimore. The four-story, 63,000-square-foot facility will serve as the new headquarters for the Mayor’s Office of Employment Development (MOED), featuring advanced career skills-building classrooms, collaborative workspaces, and upgraded technology learning labs.
Downtown RISE 10-Year Vision
In May 2024, the Baltimore City Planning Commission adopted the Downtown RISE Master Plan, a 10-year strategy focusing on economic development, infrastructure, arts, culture, entertainment, and public safety. This plan aims to create a more walkable, pedestrian-oriented, and vibrant downtown.
Tradepoint Atlantic Expansion
Tradepoint Atlantic, a 3,100-acre international trade and transportation hub, is transforming the former Bethlehem Steel plant. The development is expected to create 17,000 new jobs over the next decade and generate close to $2 billion in direct economic activity.
Pimlico Race Course Renovation
The State of Maryland took ownership of the Pimlico Race Course in 2024 and authorized $400 million in state bonds for its reconstruction. Plans include replacing the nearly 100-year-old facilities with a new state-of-the-art clubhouse, turf and dirt tracks, and a multi-use event center for festivals, youth sports, and recreational activities. The racecourse is expected to reopen in 2027.
Francis Scott Key Bridge Replacement
The Francis Scott Key Bridge collapsed on March 26, 2024, after a container ship struck one of its piers. A replacement bridge is projected to cost between $4.3 billion and $5.2 billion, with an expected opening in 2030.
UpShot Baltimore Women’s Basketball Team
In November 2025, the UpShot League announced its first expansion franchise for Baltimore, marking the league’s growth beyond its original four markets. The team is set to begin play in May 2026.
Downtown Partnership Initiatives
The Downtown Partnership of Baltimore has implemented several initiatives, including the deployment of 38 pet waste stations funded by the American Rescue Plan Act (ARPA) to promote cleanliness and responsibility downtown.
Purple Line Light Rail Project
The Purple Line is a 16.2-mile light rail line under construction to link several Maryland suburbs of Washington, D.C., including Bethesda, Silver Spring, College Park, and New Carrollton. The line is expected to open in late 2027.
Red Line Light Rail Proposal
The Red Line is a proposed light rail line for Baltimore, with route selection underway. The original project was granted federal approval to enter the preliminary engineering phase, but construction has not yet begun.
Downtown RISE Master Plan
The Downtown RISE Master Plan, adopted in 2024, serves as a framework for a more livable and inclusive downtown, focusing on economic development, infrastructure, arts, culture, entertainment, and public safety.
Harborplace Redevelopment
The Harborplace redevelopment involves demolishing the iconic Inner Harbor pavilions and replacing them with 32 and 25-story apartment towers, along with a marketplace and an amphitheater. The pavilions are being razed starting in the fall of 2026, with completion expected by the 2030s.
UpShot Baltimore Women’s Basketball Team
UpShot Baltimore is a planned professional women’s basketball team based in Baltimore, set to begin play in May 2026. The team is the first expansion franchise of the UpShot League, a developmental women’s basketball league in the United States.
Downtown Partnership Initiatives
The Downtown Partnership of Baltimore continues to invest in practical infrastructure that directly supports cleanliness, public health, and responsible use of shared spaces. The deployment and maintenance of 38 pet waste stations, funded by the American Rescue Plan Act (ARPA), represent a proactive approach to reducing sidewalk contamination, improving pedestrian experience, and supporting dog-friendly urban living throughout the Downtown Management Authority footprint.
Purple Line Light Rail Project
The Purple Line is a 16.2-mile light rail line under construction to link several Maryland suburbs of Washington, D.C., including Bethesda, Silver Spring, College Park, and New Carrollton. The line is expected to open in late 2027.
Red Line Light Rail Proposal
The Red Line is a proposed light rail line for Baltimore, with route selection underway. The original project was granted federal approval to enter the preliminary engineering phase, but construction has not yet begun.
Downtown RISE Master Plan
The Downtown RISE Master Plan, adopted in 2024, serves as a framework for a more livable and inclusive downtown, focusing on economic development, infrastructure, arts, culture, entertainment, and public safety.
Harborplace Redevelopment
The Harborplace redevelopment involves demolishing the iconic Inner Harbor pavilions and replacing them with 32 and 25-story apartment towers, along with a marketplace and an amphitheater. The pavilions are being razed starting in the fall of 2026, with completion expected by the 2030s.
UpShot Baltimore Women’s Basketball Team
UpShot Baltimore is a planned professional women’s basketball team based in Baltimore, set to begin play in May 2026. The team is the first expansion franchise of the UpShot League, a developmental women’s basketball league in the United States.
Conclusion
Baltimore’s ambitious waterfront transformation marks a significant investment in the city’s future and reflects the collective effort of local entrepreneurs, city officials, and community members. With a focus on affordable housing, job creation, and improved infrastructure, these initiatives highlight the potential for economic growth while fostering a vibrant urban environment. Residents and business owners alike can stay informed and participate in this dynamic development, ensuring that the momentum of progress continues to push Baltimore forward.
FAQ
What is the total investment for the waterfront transformation in Baltimore?
Over $3 billion invested across 231.5 acres.
When is the Harborplace redevelopment project expected to begin?
The Harborplace redevelopment is set to begin in the fall of 2026.
What are the goals of Baltimore’s Affordable Housing initiatives?
These initiatives are part of Mayor Brandon M. Scott’s 15-year, $3 billion plan to reduce vacant properties and revitalize neighborhoods.
What new facility is being established in Reservoir Square?
A new headquarters for the Mayor’s Office of Employment Development (MOED) is being established, designed to feature advanced career skills-building classrooms, collaborative workspaces, and upgraded technology learning labs.
What is the purpose of the Downtown RISE Master Plan?
The Downtown RISE Master Plan focuses on economic development, infrastructure, arts, culture, entertainment, and public safety to create a more walkable and vibrant downtown.
Key Features of Baltimore’s Waterfront Transformation
| Project | Investment | Area | Expected Completion |
|---|---|---|---|
| Harborplace Redevelopment | $900 million | 20 acres | 2031 |
| Affordable Housing Initiatives | $28.8 million | – | – |
| New Employment Hub (Reservoir Square) | $44 million | – | – |
| Tradepoint Atlantic Expansion | – | 3,100 acres | Over the next decade |
| Pimlico Race Course Renovation | $400 million | – | 2027 |
| Francis Scott Key Bridge Replacement | $4.3 billion to $5.2 billion | – | 2030 |
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