Baltimore Raven Eugene Monroe Invests In South Baltimore Mixed-Use Project
BALTIMORE (WJZ) -- One Baltimore Ravens star joins in on a costly project to help revitalize the city's historic Sharp-Leadenhall neighborhood.
The group of investors aim to turn the south Baltimore area into a mixed-use development.
WJZ's Rick Ritter breaks it all down.
Even though Ravens star Eugene Monroe signed a new five-year deal with the team in March, he's already looking at life after football.
In the shadows of M&T Bank Stadium, lies an industrial area that's forgotten.
But investor Arsh Miriman has a vision.
"We've always had an affinity for south Baltimore," Miriman, of Caves Valley Partners said.
It's called the Stadium Square project near Federal Hill. One that's taken Baltimore Ravens star lineman Eugene Monroe from the trenches to the real estate market.
"We see this place being erected into a full service mixed-use property," Monroe said.
He and his former college teammate Keith Payne Jr. recently invested in the $250 million-project, calling it a 'once in a lifetime' opportunity.
"This is the perfect opportunity to do a project in a development literally in my backyard -- the backyard where I work on Sundays at M&T Bank Stadium," Monroe said.
"You got a lot of amenities that will really change the entire environment," Payne Jr. added.
Investors say the plan is to get rid of old industrial buildings and vacant homes -- and instead build new apartments, offices, stores and nearly 2,000 parking spots.
The project will extend three blocks, roughly bounded by Cross, Race, Leadenhall and Ostend streets.
Kurt Hadaway with John's Auto Service says it's been the talk of the area -- one that need a spark.
"I think it will bring more business and different people into the neighborhood," Hadaway said.
Monroe says it might be tough to vision now, but the potential is there, calling this a game changer for the entire city.
"It's just going to be a phenomenal place for young professionals of business people working in Baltimore to come," he said.
"It kind of brings the city together and that's really what this project is doing," Payne Jr. said.
Although a $250 million project may keep most busy, Monroe and Payne Jr. are already looking at other similar opportunities in the area.
They hope to move forward with the public planning process at the start of the new year.
Investors say work could start in just a few months.
They hope to complete the entire project in roughly five years.
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