Clipper Mill, Baltimore, Md.

DEVELOPER:

Struever Bros. Eccles & Rouse (SBER)

BACKGROUND:

The Poole & Hunt Foundry and Machine Works, built in 1857 on 17 acres, was Maryland’s largest and most prominent machine manufacturer. Fire damage in the early 1990s left the complex partially vacant and deteriorating. The ambitious, three-phase project undertaken by SBER sought to blend existing industrial elements while creating a new mixed-use, transit-friendly community to inspire surrounding neighborhoods. Historic steel beams, stones, and sprocket wheels from the original machine shop were recycled as parts of the building structure, landscaping features, and architectural centerpieces.

TOTAL DEVELOPMENT COST:

$47 million

KEY FINANCING:

  • Federal and state historic tax credits, enhanced by the New Markets Tax Credit
  • Federal low-income housing tax credits

IMPACT:

  • Total Jobs Generated: 642
  • 244,000 square feet of commercial and retail space, 135 residential units, and six acres of green space and trails
  • Includes 51,000 square feet of artist studio and “green” office space that features a “living wall” – the nations first - which filters air before returning it to the HVAC system
  • Renewed commercial and residential interest in the redeveloped neighborhood for its inspiring blend of the past and present