University of Maryland BioPark

Development


CSP Role

Advisor (TIF Funding, CIC), Developer (Lion Brothers Building)

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Cross Street Partners served as advisor to The University of Maryland BioPark (BioPark) and Wexford Science & Technology (Wexford) in a collaboration to support a $30 million BioPark TIF. The establishment of a BioPark TIF District and the authorization of TIF funding will support the BioPark Innovation District.This TIF is the outgrowth of an intensive and inclusive planning process thataims to create a cluster of key innovation place making components. Designed to be a national model, this Innovation District will establish Baltimore as a leader in the Innovation Economy.

CIC, formerly known as Cambridge Innovation Center, is the cornerstone of the BioPark Innovation District. CIC is a leader in the use of shared space for innovation and entrepreneurship. The potential inclusion of CIC space in the BioPark will provide a regional destination for the “best and the brightest” in technology and business initiatives.

As developer, Cross Street Partners redeveloped the historic Lion Brothers building in Baltimore, MD.  Lion Brothers was a vacant manufacturing facility on the edge of the University of Maryland BioPark in the Hollins Market neighborhood of West Baltimore. The 38,000-square foot building was formerly home to part of Baltimore’s iconic print shop, Globe Printing Co., as well as the venerable Lion Brothers Company.

The Lion Brothers Building provides a compelling environment for businesses looking to locate near the BioPark and for non-profits actively working in Southwest Baltimore. As part of the UM BioPark, Lion Brothers is the first building to broaden the definition of innovation to incorporate art, technology, and social enterprise, and therefore is a critical component of a diverse innovation district in West Baltimore.  While functioning as an innovation hub, the Lion Brothers building also functions as a community hub, bringing together a diverse array of social enterprises, non-profits and education providers.