(HANOVER, MD) - Acting Transportation Secretary John D. Porcari announced today that the State of Maryland will maintain ownership of Baltimore's World Trade Center building. Since taking office in January, Secretary Porcari has reviewed efforts by the prior administration to sell the 30-story office tower. Based on that review, he has recommended to Governor Martin O'Malley that Maryland keep the World Trade Center as a state asset for the foreseeable future. Governor O'Malley has concurred.
"The World Trade Center remains a premier property on Baltimore's skyline and a valuable asset in the state's portfolio," said Secretary Porcari. "It is a quality facility with an excellent waterfront location in a core downtown business district. Based on the strength of those key factors, the right thing to do is to hold on to the building, market it properly and insure it remains a vibrant part of Baltimore."
The Maryland Department of Transportation (MDOT) is now focused on renewing leases with existing tenants and actively seeking new tenants to occupy the building's 300,000 square feet of office space. The World Trade Center opened in 1977 at a cost of $22 million. It was built by the State of Maryland to serve as an anchor for the Inner Harbor development. Efforts by the prior administration to sell the building began in Fall 2005.
Contact:
Jack Cahalan
Erin Henson
410-865-1025 |
