Mayor Young, Governor Hogan Kick-Off Revitalization of Baltimore’s Historic Lexington Market
Tuesday Feb 18th, 2020
Better Schools. Safer Streets. Stronger Neighborhoods.
FOR IMMEDIATE RELEASE
BALTIMORE, MD. — Today, Mayor Bernard C. “Jack” Young was joined by Governor Larry Hogan, Councilman Eric Costello, Baltimore Public Markets Chair Colin Tarbert, along with Seawall Development and Lexington Market officials and vendors, as well as other partners integral to the project, to celebrate the official groundbreaking for the redevelopment of Baltimore's historic Lexington Market.
“This is a momentous event for the City of Baltimore and the State of Maryland and it would not be possible without the support from Governor Hogan and the Maryland General Assembly,” said Mayor Bernard C. “Jack” Young. “Lexington Market's next chapter represents an incredible opportunity for our City, and it is essential that we support the equitable redevelopment and revitalization of this iconic hub for delicious food and homegrown entrepreneurship, as we continue to build Baltimore.”
Lexington Market, the country's longest continuously operating market, will undergo a $40 million transformation that calls for a new Market building to be constructed on the existing South parking lot, and to demolish the current Arcade to make way for a pedestrian plaza on Lexington Street. The plan allows the current East Market building, where more than 50 vendors operate, to remain open throughout the duration of the project. The new and expanded Lexington Market is expected to open in mid-2021.
“The State of Maryland was proud to invest nearly $7 million toward this transformative project, which will create hundreds of jobs, encourage investment, and provide a new much-needed market for local residents who have relied on Lexington Market for their shopping needs for generations,” said Governor Larry Hogan. “A strong Maryland depends on a strong Baltimore. The redevelopment of Lexington Market will do a lot for the revitalization and transformation of this city, and is just one more way that we are changing Maryland for the better.”
Financing for the project is anchored by strong support from both the City of Baltimore and the State of Maryland, with a mix of public and private funds that includes New Market Tax Credits, bank loans, city grants, and a $2 million contribution from Lexington Market itself.
“The revitalization of Lexington Market will be an important catalyst for economic development and investment in Baltimore's downtown and its west side,” said Baltimore Markets Board Chair and Baltimore Development Corporation President & CEO Colin Tarbert. “This historic public market has long been a center for food access and culture in Baltimore and this vital project sets it up for success long into the future.”
The 238-year-old public market is owned by the City of Baltimore and operated by the City's nonprofit Lexington Market, Inc. In October 2018, the City of Baltimore announced that Baltimore-based Seawall Development had been selected to lead the transformation of Lexington Market following a competitive Request for Proposals (RFP) process.
“A new season is beginning in the history of this legendary institution,” said Robert Thomas, Executive Director for Lexington Market. “Lexington Market has reinvented itself multiple times and evolved over 238 years to meet the needs of Baltimore's communities. We have high expectations for that impact to continue and increase for decades to come.”
“We are honored to be a part of this historic transformation for Lexington Market,” said Thibault Manekin, partner at Seawall. “This is a project we approach with a lens of inclusion and equity for all, and invite the entire City of Baltimore and State of Maryland to have a role in ensuring this public market remains an asset for all.”