University of Maryland biotech park clears another hurdle

Baltimore Business Journal

The Baltimore City Board of Estimates on Wednesday authorized a $1 land sale to the University of Maryland, Baltimore, clearing the way for the institution to break ground on its west side biotechnology park by year's end.

Appraised at $1.4 million, the three parcels of vacant city-owned land are situated in the 800 and 900 blocks of West Baltimore Street.

The Baltimore Development Corp. believes the planned park will generate 2,000 jobs and between $264,000 and $1.4 million in annual city taxes during the next decade. BDC president M.J. "Jay'' Brodie called the upcoming development "the first major movement west of Martin Luther King Boulevard.''