Baltimore American Ice Company

Financial Advisory


Completed

2020

Client

Dacha

CSP Role

Financial Advisory

Contact

Tabitha Atkins

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Constructed in 1911, the former factory, which supplied manufactured ice to businesses and residents across Baltimore, was destroyed by a fire in 2004. The vacant mammoth has thus contributed to the decades of blight and disinvestment throughout West Baltimore and the Midtown-Edmonson communities specifically. By revitalizing the largest privately-owned property in the area, it will not only spur additional development, but will improve the quality of life for local residents by creating jobs, new retail and community-serving amenities, and incentivizing developers to rehab scores of vacant homes within the vicinity of the Project.

Located across from a major node of public transportation (West Baltimore Marc Train Station and central metro-bus depot), the Project will transform two large vacant industrial buildings along an entire city block into a new vibrant entertainment destination and community gathering anchor that will attract patrons from across the Baltimore and Washington DC regions, will serve as a catalyst for additional public and private sector residential and commercial redevelopment, and will create high quality job opportunities for a community with a poverty rate over 50%. Once complete, the 160k SF Project will include: • Artisan Incubator (35k SF) – In partnership with local arts organization, Open Works, and institutions such as at Johns Hopkins University and Maryland Institute College of the Arts (MICA), will provide at least 40 artists and makers with flexible studio and light manufacturing space and access to apprenticeship
programs to support the creative economy; • Community Event and Retail Space (25k SF) – By replicating the success of their two restaurants in DC, Dacha will create the first event space in West Baltimore in decades. In addition to the sit-down restaurant, reception and wedding hall, the Project will also include an art gallery and retail outlet showcasing the work of the
tenants of the Artisan Incubator and other local Baltimore artists, and multi-purpose community rooms for grassroots organizations and nonprofits to hold community meetings and events; • Courtyard (100k SF) – Outdoor space for festivals, concerts, and large private events.