A new investor has entered Baltimore’s real estate market, and she’s planning a Revival for one part of town.

An heir to the Wal-Mart fortune and granddaughter of company founder Sam Walton, Alice Walton Proietti, 37, is an investor behind the renovation of the newly-named Hotel Revival in Mount Vernon, according to local hotel industry executives and others familiar with the project.

Sam Walton, the founder of both Walmart and Sam’s Club, died in 1992. Sam Walton’s youngest son, Jim Walton, is Proietti’s father.

This is the first time Proietti, who doesn’t live in Maryland, has invested in a commercial property in Baltimore, other than a Wal-Mart or Sam’s Club store. Her investment in Mount Vernon is a sign that out-of-towners see Baltimore as a good place to invest.

READ FULL ARTICLE HERE