BALTIMORE (WJZ) — There could be some major problems for Baltimore’s crown jewel- the Inner Harbor.
According to the Baltimore Business Journal, a city judge has placed the property in receivership- meaning there could soon be a new owner.READ MORE: Maryland Weather: Severe Storm Threat Prompts Alert Day Saturday
This comes as the Harbor has high vacancies and is in need of major repairs and renovation.READ MORE: Baltimore Police Stepping Up Deployment On Fourth Of July Weekend, Commissioner Says
Current owners Ashkenazy Acquisition Group loses day to day operations while another firm takes over and will look for a new buyer.MORE NEWS: State Police Expand Traffic Enforcement On I-83 In Baltimore City
Developed by the Rouse Company- the Inner Harbor was sold in 2013 for $98 million.