The city has scrapped an old plan to redevelop the 236-year-old Lexington Market in favor of a new arrangement with building rehab specialists Seawall Development, which officials say would retain the market’s main building while saving as much $20 million in constructions costs.
Seawall, best known for its conversion projects in North Baltimore like Union Mill, nearby Union Collective and, perhaps most popularly, Remington’s R. House, has signed on as the developer for Lexington Market’s overhaul, Mayor Catherine Pugh announced at her weekly press briefing today. The project under Seawall’s vision will cost $30 to $40 million, the company estimates, down from $50 to $60 million under the old plan.
“We really believe that re-imagined real estate can unite cities,” said Seawall Development partner Thibault Manekin. “Of all of the projects we’ve ever had the opportunity to work on, this is the one that’s gonna prove that the most.”
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