Baltimore City's zoning board considered the expansion plan, first reported by the Baltimore Business Journal Dec. 7, during a public hearing Tuesday and is scheduled to vote on it later in the day.
Under Armour (NYSE : UA) plans to lease 140,000 square feet at 1450 Beason St., a 7.2 acre property now owned by Overflo Public Warehouse Inc. across Key Highway from its headquarters at the Tide Point business park. Tide Point developer Struever Bros. Eccles & Rouse has a contract to buy the property and spend about $14 million to renovate the property for Under Armour.
In order to do so, Struever Bros. needs permission from the city to use the industrially-zoned land for office and retail use. During the hearing Tuesday of the Board of Municipal and Zoning Appeals, no one spoke in opposition to the plan and board Chairman Douglass Austin suggested to Struever Bros. lawyer Stanley Fine the project would be approved.
Provided the city zoning board votes to approve the project, Struever Bros. hopes to start work within the next month and turn the space over to Under Armour in April.
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source: bizjournals.com
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