Penn Station Plans Gets Investment Boost (BBJ Story)
Transformative plans to upgrade Penn Station into a modern transit and mixed-use hub got a boost Wednesday from local opportunity zone investors.
Blueprint Local, a fund based at Brown Advisory in Fells Point, announced it would infuse an undisclosed amount of private capital into the massive redo at the historic train station in Midtown. It is the second opportunity zone investment in Baltimore — the first was made last year in the Yard 56 development in Greektown by the Prudential Financial Impact Investments group. The Blueprint Local funds make it possible for developer Penn Station Partners to convert the historic train station into a modern facility with new retail, restaurants and office space by 2022. The redo of the train station will take place in tandem with a $90 million upgrade project funded by Amtrak.