By Megan SaylesAFRO Employees Writermsayles@afro.com
The Downtown Partnership of Baltimore (DPOB) unveiled its 2024 State of Downtown report on March 20. The annual evaluation gives updates on key indicators of the well being of Baltimore’s Central Enterprise District, together with knowledge on employment, tourism, employment, vacancies and public security
In accordance with DPOB’s president, Shelonda Stokes, downtown is within the midst of a metamorphosis.
“A rising inhabitants drives the necessity for brand new housing, retail and leisure choices. The adaptive reuse of workplace area, the regular inflow of latest companies and the relocation of 5,000 state staff from State Heart into the core of downtown additional reinforce the world’s resurgence,” stated Stokes within the report. “Constructing on Governor Wes Moore’s declaration that that is Maryland’s decade and Baltimore’s time, we affirm that that is downtown’s second to redefine what’s attainable.”
Inspecting employment, workplace area and retail
In 2024, the highest 5 employment sectors in downtown Baltimore have been well being care and social help; skilled, scientific and technical providers; public administration; lodging and meals providers; and finance and insurance coverage. Because of Baltimore’s designation as a federal Tech Hub and Governor Wes Moore’s $1 billion “Capital of Quantum” Initiative, jobs within the know-how, inventive providers and life sciences industries are anticipated to develop sooner or later.
Nonetheless, in comparison with 2023, employment has declined. In 2024, the employed inhabitants amounted to 132,288 individuals, and in 2023, it was 133,950.
In an effort to stimulate downtown, Maryland has been relocating state businesses to the Central Enterprise District since 2023. To this point, 1,448 state staff have made the transfer, filling almost 300,000 sq. ft of beforehand vacant workplace area. The remaining 3,500 staff shall be relocated between 2025 and 2026.
Regardless of this effort, the share of vacant workplace area elevated from 2023 to 2024 downtown. In 2023, 19.76 p.c of places of work have been vacant in comparison with 21.7 p.c in 2024. To curb this, DPOB has been pushing the conversion of those empty places of work into retail and residential areas.
One instance of that is the redevelopment of Constancy and Deposit Constructing at 210 N. Charles Road, which is able to revamp the long-vacant property into 231 residential items and combine 30,000 sq. ft of ground-floor industrial area. The undertaking is anticipated to be accomplished in September 2025 and can cut back Baltimore’s workplace emptiness by 240,000 sq. ft.
DPOB characterised downtown’s retail presence as robust with an occupancy charge of 93 p.c. Because the pandemic, retailers have skilled a 96 p.c restoration. In 2024, downtown retailers made $908 million, up $8.5 million from 2023.
Boosts from tourism, arts and leisure
On the coronary heart of downtown is the Bromo Arts District. It options greater than 30 inventive organizations, together with theaters, galleries, artist studios and efficiency venues. Certainly one of these venues is the CFG Financial institution Area. Since its $250 million facelift in 2022, the sector was ranked 4th in North America and tenth on the earth by Billboard in 2023.
In 2024, 172 dwell performances came about in CFG Financial institution Area, 37 p.c of which have been offered out. Almost 1.5 million individuals attended these exhibits, producing $105 million in gross ticket gross sales.
A staple occasion in downtown’s leisure scene, The Heart Intercollegiate Athletic Affiliation (CIAA) Males’s and Girls’s Basketball Tournaments introduced hundreds of holiday makers to the town in 2024. Its whole financial influence in 2024 was $32.5 million with a direct spending of $23.6 million. It additionally supported greater than 1,300 jobs and contributed $3.1 million to state and native tax income.
The Baltimore Conference Heart, one other hotspot for tourism downtown, is at present contemplating renovation. In 2024, the Maryland Basic Meeting established the Baltimore Conference and Tourism Redevelopment and Working Authority Activity Pressure to check and suggest methods to revitalize the constructing.
Public security strides
As downtown shifts to accommodate extra residents, enhancing public security has grow to be a prime precedence. DPOB is partnering with the College of Maryland, Baltimore (UMB) to create the Strategic Operations Heart (SOC). The hub will assemble legislation enforcement, metropolis businesses, enterprise leaders and neighborhood organizations to plan proactive and prevention-based methods to scale back crime. A pilot of the SOC will launch within the fall at UMB’s campus earlier than transferring to a everlasting location.
In 2024, general crime was down by 6 p.c downtown, Stolen autos and shootings additionally decreased by 46 p.c and 45 p.c respectively. Nonetheless, larceny, the theft of property not taken by power, elevated by 16 p.c.
