Under Armour CEO Kevin Plank announced an agreement with Goldman Sachs to become joint owners in 235 acres along the Patapsco River.
Goldman Sachs has agreed to invest $233 million to join Plank’s Sagamore Development firm in owning and developing a 235-acre parcel on the waterfront in Baltimore.
The Port Covington project is expected to build residential buildings, restaurants, office space and 40 acres of parks. A project that has been deemed the “largest urban renewal efforts in America,” the Associated Press reports
“This unprecedented public-private partnership will provide Baltimoreans with new jobs and neighborhood assets that are more connected and accessible through thoughtful planning and modern infrastructure,” Goldman Sachs Managing Director and Head of the Urban Investment Group Margaret Anadu said.