Latest news with #TradepointAtlantic
Business Journals
22-04-2025
- Business
- Business Journals
Tradepoint Atlantic plans $100M logistics complex in Howard County
Tradepoint Atlantic's expansion into Howard County signals a new chapter for the developer, with local officials hailing the project as transformative for the area. Story Highlights Tradepoint Atlantic is planning a $100 million logistics complex in Howard County. The project will create 500 new jobs in the Savage area. Groundbreaking for the first warehouse begins in early 2026. Tradepoint Atlantic will expand its footprint in Maryland with a $100 million, 500,000-square-foot logistics complex in Howard County. Plans for Tradepoint at Savage Crossing, located on Route 1 near Laurel, were released Tuesday by Howard County officials and the developer. The project represents Tradepoint's first Maryland development outside of Baltimore County, where the firm has converted 3,300 acres at the former Bethlehem Steel plant in Dundalk into an international trade center with over $2 billion in private investment so far. About 500 new jobs are expected in Savage when the 35-acre project is built out. The Baltimore County site hit its 10-year anniversary last year, and Tradepoint officials said it's time for more growth in the region. The move into Howard County is the result of ongoing negotiations with state and county leaders to develop the state-of-the-art industrial and possible manufacturing complex at 9299 Washington Blvd. DOWNLOAD the free BBJ app for breaking news alerts on your phone. Christiana Rigby, a member of the County Council whose district includes Savage, called the move transformative for the southern Howard County community between Jessup and Laurel that today is a mix of vacant and dilapidated structures, small hotels and newly developed multi-family complexes. "Bringing $100 million to revitalize our portion of the Route 1 corridor and creating hundreds of new jobs — I'm thrilled," Rigby said. The future Tradepoint expansion property today holds WillScot, a mini-storage and portable office container firm, which is expected to sell the site to the large developer by year's end for an undisclosed price. Groundbreaking on the first of three Class A industrial warehouses will take place in early 2026, and the complex is expected to be completed in 2029. "Our hope is that successful development like Tradepoint at Savage Crossing will add to the economic development ecosystem here and further encourage other businesses to look to this area for their next expansion," Howard County Executive Calvin Ball said. Howard County recently paved the way for the expansion by passing new land use regulations to allow flex warehouse development on Route 1. A portion of the large suburban county was also recently awarded a state Enterprise Zone designation, which includes part of Route 1 near Savage, but not the Tradpoint expansion site, Ball added. That designation will allow tax breaks and other incentives to businesses located within those boundaries, and Ball pledged the county's support over the coming years to help Tradepoint put down roots. "We realize that Tradepoint Atlantic is making a significant investment at a challenging time. Please know that we will remain your partner through this journey. Together we will meet the magic of this moment," Ball said. Aaron Tomarchio, senior vice president at Tradepoint, said the move to expand into a new county was a way to "build upon the development model we had created." He noted that Savage's location between Baltimore and Washington, D.C. and proximity to Interstate 95 were major drivers for the project. "Our team set their eyes on other opportunities where we could bring thoughtful, redevelopment strategies and transformational change to a new project and community," Tomarchio said. Marc Salotti, Tradepoint's managing director, said the firm could grow further in other jurisdictions with locations "to be determined." expand A bird's eye view of the 3,300-acre Tradepoint Atlantic development in Sparrow's Point. Tradepoint Atlantic State Sen. Guy Guzzone, who represents a portion of the Route 1 corridor, said the area has been cited for years as ripe for redevelopment and upgrades. The thoroughfare runs through Maryland as an alternate route to Interstate 95, and was once the only roadway stretching from Maine to Florida, before the U.S. interstate system was built. "This is a big one to have (Tradepoint) come here to redevelop this land," Guzzone said. "The fundamental of all this is jobs. At the basis, we're trying to build a community where people have jobs close to where they live and have economic development that lifts up the community. We're so lucky." The private Tradepoint development is fueled by investors at Redwood Holdings, chaired by the low-profile yet powerhouse Baltimore investor Jim Davis. Redwood joined with Hilco Global in 2014 to acquire Sparrows Point out of bankruptcy before Hilco sold its share in the project. Today, Tradepoint at Sparrows Point has more than 13,000 workers and other officials on site each day, and just over 50 warehouse, logistics and manufacturing facilities. A massive private port is under development on 330 acres, and the Sparrows Point Container Terminal is expected to be completed by early 2028, with 1,000 new jobs expected to follow.
NBC News
05-02-2025
- Business
- NBC News
Designs unveiled for replacement of Baltimore bridge almost a year after deadly collapse
SPARROWS POINT, Md. — Almost a year after the deadly collapse of Baltimore's Francis Scott Key Bridge, Maryland officials on Tuesday unveiled their designs for its replacement, which will be taller and better protected against ship strikes. Construction of the state's first cable-stayed bridge could be completed in 2028 and cost upwards of $1.7 billion. With its graceful outline and delicate design, officials said the new bridge will modernize Baltimore's skyline, becoming a symbol of resilience, progress and economic growth. The design features two towers with cables radiating down to the deck. 'This is a great day for the state of Maryland,' Gov. Wes Moore said at a news conference late Tuesday morning. 'But it's not lost on me that today's triumph was born out of tragedy.' The original Key Bridge, a 1.6-mile (2.6-kilometer) steel span at the mouth of Baltimore's harbor, took five years to construct and opened to traffic in 1977. It connected various port-oriented industrial communities around Baltimore and allowed drivers to easily bypass downtown. The bridge was destroyed when a massive container ship lost power and slammed into one of its supporting columns. The March 26 collapse killed six construction workers who were filling potholes when the structure crumbled beneath them. Baltimore's port was closed for months after the collapse, and increased traffic congestion remains a problem for drivers across the region. Officials quickly promised to rebuild the bridge — a longstanding Baltimore landmark and vital piece of transportation infrastructure. Demolition of the remaining pieces will take place this spring, with construction of its replacement to follow, officials said Tuesday. They held Tuesday's news conference at Tradepoint Atlantic, a shipping hub in the Port of Baltimore that played a major role in cleanup and recovery efforts following the collapse. The facility is revitalizing the site of a former Bethlehem Steel plant just northeast of Baltimore as maritime shipping continues to fuel the regional economy. 'Maryland is a bridge between America and the rest of the world. We get cars from Michigan out to market. We bring sugars and spices to Louisiana. We haul farm equipment from the East Coast deep into the heartland,' Moore said. 'Commerce and trade are the bedrock of our state, and we will continue to make investments that honor our tradition.' In August, the state awarded a $73 million contract for the first phase of the rebuild to Kiewit Infrastructure, a major construction and engineering firm. Officials said the project would advance in two phases, with the first focusing on the design work and other necessary steps before construction begins. Moore promised to 'employ many Marylanders' throughout the process. Maryland Transportation Secretary Paul Wiedefeld said the design will include the latest in pier protection technology, which has become increasingly important as ships keep getting bigger and carrying more cargo. The bridge will also be taller to provide more clearance. He said the plans were developed with the project's cost and construction timeline in mind. 'While this is a beautiful bridge, it will also be a working bridge for a working city,' Wiedefeld said. The federal government has agreed to cover the full price tag for rebuilding. Congress recently passed a spending bill that included a funding provision for the project. Officials have said they expect that federal taxpayers will eventually be made whole through insurance payouts and damages, but that could take a while. A sprawling civil case will ultimately determine the assignments of liability in what could become one of the most expensive maritime disasters in U.S. history. The National Transportation Safety Board has not yet released its final report on the collapse, though officials said a loose cable in the ship's electrical switchboard likely contributed to its power issues. Federal agents boarded the cargo ship Dali amid a criminal investigation last year.
Yahoo
05-02-2025
- Business
- Yahoo
New Key Bridge design highlights both ‘triumph' and ‘tragedy' a year after collapse
Transportation Secretary Paul Wiedefeld and Gov. Wes Moore at the unveiling of the design for the replacement of Francis Scott Key Bridge. (Photo by Danielle J. Brown/Maryland Matters) State officials unveiled the design for the new Francis Scott Key Bridge on Monday, almost a year after a container ship slammed into the old bridge, sending it tumbling into the Patapsco River and killing six workers in the process. 'This is a great day for Maryland,' said Gov. Wes Moore (D), as the design was revealed. 'But it's not lost on me that today's triumph was born out of tragedy.' Renderings of the bridge unveiled Monday show a soaring cable-stayed bridge to replace the old steel truss bridge that was destroyed in the early hours of March 26, 2024, when the ship, Dali, hit the span. The new bridge would be the first cable-stayed bridge in the state. When it is completed — the contractor predicts the bridge could open in fall 2028 — the bridge will restore a major roadway between Dundalk and Baltimore. The loss of the bridge disrupted supply chains, and shut down a toll road used by more than 30,000 vehicles a day, which collected $56 million in tolls a year. 'This directive isn't about nostalgia, it's about necessity. Because you can't have a fully functioning Port of Baltimore … without the Key Bridge,' Moore said during the event at Tradepoint Atlantic, which is near the remnants of Key Bridge. Moore also announced an investment of $15 million in Tradepoint Atlantic's terminal container project, which is expected to increase container capacity at the terminal by 70%. The project is expected to generate as much as $1 billion in private investments and create up to 8,000 jobs. The new bridge will be four lanes, two in each direction as the old bridge was. But it will provide 230 feet of clearance for ships passing underneath, compared to a height of 185 feet for the old bridge, said Transportation Secretary Paul Wiedefeld. Wiedefeld called the unveiling a 'significant milestone on our path to make the Baltimore region and the vital Northeast corridor whole again.' 'The Port is an economic driver for all of Maryland and the nation,' he said, noting that the new structure will be 'a working bridge for a working city,' though designs are not fully finalized. Now that the plans have been unveiled, the next step in the bridge's construction is demolition of what remains of the old structure, according to Moore. Demolition is expected in the spring and construction will begin shortly after. Preconstruction operations have already begun, such as collecting soil samples and mapping subsurface waterways, the Maryland Transportation Authority said in January. The Maryland Board of Public Works approved a $75 million contract last month to hire three firms that will oversee construction management services on the project, under the name Bridging Maryland Partnership. The partnership will oversee work by the project contractor, the Kiewit Infrastructure Co., to ensure that 'the accelerated design and construction process remains on track,' according to MdTA. 'Maryland is a bridge between America and the rest of the world,' Moore said. 'Commerce and trade are the bedrock of our state. And we will continue to make investments that honor our tradition. We still have work to do, but this is a very important step forward.'
Boston Globe
04-02-2025
- Business
- Boston Globe
Designs unveiled for replacement of Baltimore bridge almost a year after deadly collapse
'This is a great day for the state of Maryland,' Gov. Wes Moore said at a news conference late Tuesday morning. 'But it's not lost on me that today's triumph was born out of tragedy.' The original Key Bridge, a 1.6-mile (2.6-kilometer) steel span at the mouth of Baltimore's harbor, took five years to construct and opened to traffic in 1977. It connected various port-oriented industrial communities around Baltimore and allowed drivers to easily bypass downtown. Get Starting Point A guide through the most important stories of the morning, delivered Monday, Wednesday, and Friday. Enter Email Sign Up The container ship Dali rested against the wreckage of Baltimore's Francis Scott Key Bridge on March 27, 2024. Alex Brandon/Associated Press Advertisement The bridge was destroyed when a massive container ship lost power and slammed into one of its supporting columns. The March 26 collapse killed six construction workers who were filling potholes when the structure crumbled beneath them. Baltimore's port was closed for months after the collapse, and increased traffic congestion remains a problem for drivers across the region. Officials quickly promised to rebuild the bridge — a longstanding Baltimore landmark and vital piece of transportation infrastructure. Demolition of the remaining pieces will take place this spring, with construction of its replacement to follow, officials said Tuesday. They held Tuesday's news conference at Tradepoint Atlantic, a shipping hub in the Port of Baltimore that played a major role in cleanup and recovery efforts following the collapse. The facility is revitalizing the site of a former Bethlehem Steel plant just northeast of Baltimore as maritime shipping continues to fuel the regional economy. 'Maryland is a bridge between America and the rest of the world. We get cars from Michigan out to market. We bring sugars and spices to Louisiana. We haul farm equipment from the East Coast deep into the heartland,' Moore said. 'Commerce and trade are the bedrock of our state, and we will continue to make investments that honor our tradition.' Advertisement Maryland Governor Wes Moore spoke to media during a news conference to unveil the new design plans for the Francis Scott Key Bridge. Ulysses Muñoz/Associated Press In August, the state awarded a $73 million contract for the first phase of the rebuild to Kiewit Infrastructure, a major construction and engineering firm. Officials said the project would advance in two phases, with the first focusing on the design work and other necessary steps before construction begins. Moore promised to 'employ many Marylanders' throughout the process. Maryland Transportation Secretary Paul Wiedefeld said the design will include the latest in pier protection technology, which has become increasingly important as ships keep getting bigger and carrying more cargo. The bridge will also be taller to provide more clearance. He said the plans were developed with the project's cost and construction timeline in mind. 'While this is a beautiful bridge, it will also be a working bridge for a working city,' Wiedefeld said. The federal government has agreed to cover the full price tag for rebuilding. Uncredited/Associated Press The federal government has agreed to cover the full price tag for rebuilding. Congress recently passed a spending bill that included a funding provision for the project. Officials have said they expect that federal taxpayers will eventually be made whole through insurance payouts and damages, but that could take a while. A sprawling civil case will ultimately determine the assignments of liability in what could become one of the most expensive maritime disasters in U.S. history. The National Transportation Safety Board has not yet released its final report on the collapse, though officials said a loose cable in the ship's electrical switchboard likely contributed to its power issues. Federal agents boarded the cargo ship Dali amid a criminal investigation last year.
The Hill
04-02-2025
- Business
- The Hill
Designs unveiled for replacement of Baltimore bridge almost a year after deadly collapse
SPARROWS POINT, Md. (AP) — Almost a year after the deadly collapse of Baltimore's Francis Scott Key Bridge, Maryland officials on Tuesday unveiled their designs for its replacement, which will be taller and better protected against ship strikes. Construction of the state's first cable-stayed bridge could be completed in 2028 and cost upwards of $1.7 billion. With its graceful outline and delicate design, officials said the new bridge will modernize Baltimore's skyline, becoming a symbol of resilience, progress and economic growth. The design features two towers with cables radiating down to the deck. 'This is a great day for the state of Maryland,' Gov. Wes Moore said at a news conference late Tuesday morning. 'But it's not lost on me that today's triumph was born out of tragedy.' The original Key Bridge, a 1.6-mile (2.6-kilometer) steel span at the mouth of Baltimore's harbor, took five years to construct and opened to traffic in 1977. It connected various port-oriented industrial communities around Baltimore and allowed drivers to easily bypass downtown. The bridge was destroyed when a massive container ship lost power and slammed into one of its supporting columns. The March 26 collapse killed six construction workers who were filling potholes when the structure crumbled beneath them. Baltimore's port was closed for months after the collapse, and increased traffic congestion remains a problem for drivers across the region. Officials quickly promised to rebuild the bridge — a longstanding Baltimore landmark and vital piece of transportation infrastructure. Demolition of the remaining pieces will take place this spring, with construction of its replacement to follow, officials said Tuesday. They held Tuesday's news conference at Tradepoint Atlantic, a shipping hub in the Port of Baltimore that played a major role in cleanup and recovery efforts following the collapse. The facility is revitalizing the site of a former Bethlehem Steel plant just northeast of Baltimore as maritime shipping continues to fuel the regional economy. 'Maryland is a bridge between America and the rest of the world. We get cars from Michigan out to market. We bring sugars and spices to Louisiana. We haul farm equipment from the East Coast deep into the heartland,' Moore said. 'Commerce and trade are the bedrock of our state, and we will continue to make investments that honor our tradition.' In August, the state awarded a $73 million contract for the first phase of the rebuild to Kiewit Infrastructure, a major construction and engineering firm. Officials said the project would advance in two phases, with the first focusing on the design work and other necessary steps before construction begins. Moore promised to 'employ many Marylanders' throughout the process. Maryland Transportation Secretary Paul Wiedefeld said the design will include the latest in pier protection technology, which has become increasingly important as ships keep getting bigger and carrying more cargo. The bridge will also be taller to provide more clearance. He said the plans were developed with the project's cost and construction timeline in mind. 'While this is a beautiful bridge, it will also be a working bridge for a working city,' Wiedefeld said. The federal government has agreed to cover the full price tag for rebuilding. Congress recently passed a spending bill that included a funding provision for the project. Officials have said they expect that federal taxpayers will eventually be made whole through insurance payouts and damages, but that could take a while. A sprawling civil case will ultimately determine the assignments of liability in what could become one of the most expensive maritime disasters in U.S. history. The National Transportation Safety Board has not yet released its final report on the collapse, though officials said a loose cable in the ship's electrical switchboard likely contributed to its power issues. Federal agents boarded the cargo ship Dali amid a criminal investigation last year.
