NORTH AVENUE MARKET 

Location: 10–30 W. North Avenue, Baltimore, MD 21201. Located in the Station North Arts District and Charles North neighborhood on North Ave. between Charles St. and Maryland Ave. The building is 2 1/2 blocks from MARC, light rail, and Amtrak service at Baltimore Penn Station.

Size: Approximately 57,000 square feet above grade plus a 34,000 square foot unfinished basement with 10’ – 12’ ceilings. Additional rentable space will be created by adding a 4,500 sq. ft. mezzanine to the double height former market hall.

History: North Avenue Market was constructed in 1928 as Baltimore City’s first privately-owned market house. When it opened, the market contained twelve retail stores, a twenty-two-lane bowling alley, and over 200 grocery vendors. The market’s commercial viability was impacted by demographic changes following WWII, including the exodus of Baltimore residents to the suburbs. In 1968, a fire substantially damaged the interior of the building. Shortly after, the northern portion of the building was razed to accommodate the construction of an apartment complex. Since the early 1970s, portions of the building have been occupied by a variety of tenants including a print studio, arcade bar, and a theater.

Redevelopment Plan: Centered around Station North’s identity as an arts and entertainment district, the development program includes bar/restaurants, small retailers (with joint retail/production spaces), one or more entertainment venues (including live music), artist workspace, support spaces for artists (e.g., shared equipment), arts related nonprofit program space, and a substantial art exhibition/events space. The goal is to provide highly flexible spaces at a variety of price points and sizes so businesses can grow and adapt within the building. Before North Avenue Market is fully renovated, there will be a rich array of temporary programming and short-term tenants including a dance hall, live music venue, art gallery, vintage market, and youth arts programming. The redevelopment of North Avenue Market will be undertaken as a certified historic preservation project.   

Community/Economic Benefit: North Avenue Market occupies nearly an entire city block in a highly visible location in the heart of Central Baltimore. Its redevelopment is critical to the revitalization of Station North, which suffered due to the COVID pandemic’s impact on commercial businesses. Central Baltimore has numerous vacant or underutilized properties that could be redeveloped if market conditions improve. Revitalizing North Avenue Market will have a significant positive impact on neighborhood dynamics and will catalyze the redevelopment of nearby properties. Through the development program, partnerships, and programming, the project will create economic opportunity for local artists and makers. This will take a wide variety of forms including affordable a workspace, an inspiring exhibition hall, joint retail/production spaces, and an environment and brand that places art at its center. 

Through its tenancy, partnerships, creative marketing, and programming, the project will help create economic opportunity for local artists, makers, and other entrepreneurs. It is sometimes forgotten that artists are small businesses that need specialized infrastructure to grow and flourish. This  support will take a variety of forms including affordable artist workspace, an inspiring exhibition hall, joint retail/production spaces, and cultivating an environment that drives culture, creativity, and economics. In addition, the project will include neighborhood amenities such as a fresh food bodega, fitness center, and public spaces. The project team is in the process of meeting with community stakeholders to better understand how North Avenue Market can address gaps in Station North and help the district flourish.

Financing Plan: The property will be acquired using grants from the State of Maryland, and seller financing for 50% of the purchase price. The redevelopment will be financed by New Markets Tax Credits, Federal Historic Tax Credits, state historic tax credits, grants, debt, and sponsor/investor equity. Total estimated development costs are $31.3 million.

Status: The sponsor has acquired the property as of March 1 2024. The carry, development, and temporary programming period will last approximately 12 months. The debt/tax credit finance closing is estimated for Q1/Q2 2025, and base building construction is expected to take 12 months.

Sponsorship Team: A joint venture partnership between two non-profit community development organizations, the Central Baltimore Partnership and Central Baltimore Future Fund, and a developer -Twenty-Two Lanes Development. Twenty-Two Lanes is a partnership between Michael Haskins Jr of Annabyrd and Currency Studio, Matt Oppenheim of MO/DE and John Renner of Timshel.