Development Plan for $140 Million Foundry Row Project Officially Approved
Owings Mills, Md. (October 24, 2013) — Greenberg Gibbons and Vanguard announced today that the development plan for Foundry Row, a $140 million, 50-acre development on Reisterstown Road in Owings Mills, was officially approved by the Baltimore County Office of Administrative Hearings.
Anchored by a Wegmans grocery store, Foundry Row will feature 365,000 square feet of retail space and include a national fitness anchor, sporting goods anchor, upscale shops and restaurants, as well as 60,000 square feet of Class A office space.
“This approval is an important milestone, and we look forward to creating an exciting, new gateway to Owings Mills,” said Brian Gibbons, chairman and CEO of Greenberg Gibbons. “We owe a great deal of thanks to the many elected officials and community groups who supported this project from day one. They all played an important role in making Foundry Row a reality.”
The construction phase of Foundry Row will support 2,300 full- and part- time jobs in Baltimore County and $264 million in sales of goods and services from county businesses. Once complete, Foundry Row will permanently support nearly 3,100 jobs. Annual fiscal benefits from the completed Foundry Row for Baltimore County are estimated at $4.8 million. The state of Maryland is expected to receive $8.2 million annually in tax receipts as a result of the project’s operations at full build-out.
“This marks the beginning of great progress in Owings Mills,” said Baltimore County Councilwoman Vicki Almond. “Foundry Row will not only be a terrific community focal point, it will generate a tremendous amount of new jobs for local residents and have a positive economic ripple effect throughout the entire county.”
“Our community is so ready for this,” added Cheryl Aaron of the Greater Greenspring Association. “We cannot wait to start enjoying our own Wegmans and all of the other retailers and restaurants that will be coming to Foundry Row.”
Towson-based Smith, Gildea & Schmidt represented Greenberg Gibbons and Vanguard throughout the zoning and administrative hearing process.
For more information, go to VisitFoundryRow.com.