Financial negotiations and project scoping underway
BALTIMORE – Amtrak has selected Penn Station Partners, a Baltimore-based team with global expertise, to negotiate a master development deal for Baltimore Penn Station and neighboring Amtrak-owned properties. The team is comprised of Beatty Development Group, Armada Hoffler Properties, Cross Street Partners, Gensler, WSP USA, Network Rail Consulting and Mace Group among others.
“Baltimore Penn Station is the eighth busiest station in our national network and this important step underscores Amtrak’s continued efforts to significantly enhance the station experience and amenities for all travelers,” said Bart Bush, Amtrak Vice President of Real Estate Stations and Facilities.
Goals of the master development include modernizing and expanding station facilities and amenities to accommodate growth, renovating the station’s upper floors and supporting transit-oriented development that integrates the surrounding neighborhood’s unique vitality.
“I am confident that this team, which is comprised of local Baltimore businesses, understands how urgent the redevelopment of Penn Station is to the City of Baltimore, said Congressman Elijah E. Cummings. “This team brings the expertise essential to ensuring that the full potential of this resource is finally tapped to support economic growth and revitalization.”
“This development is a historic opportunity for Amtrak and Penn Station Partners to bring to life a bold future for Penn Station, generating jobs and sustained economic opportunities for our Baltimore communities and beyond,” said Mayor Pugh. “My administration looks forward to working with this team to maintain forward momentum.”
Negotiations are underway with the selected team proposing a multi-phased, mixed-use development that could bring as many as 1.6 million square feet of development to the area. Preliminary concepts include a hotel in the historic station head house, as well as office and residential space to the north along Lanvale Street connected by an expanded concourse with new retail opportunities. Specific details regarding the development’s scope, design and phasing will be the focus of future engagement between Amtrak, the selected developer, stakeholders and the public.
“On behalf of the entire Penn Station Partners team, we are incredibly excited for this opportunity to reimagine one of Baltimore’s great transportation hubs,” said Michael Beatty, President of Beatty Development Group. “The PSP team is comprised of some of the top minds from around the world, experts in their respective fields, all working together to create an ambitious vision for the future of Baltimore Penn Station. Today’s announcement brings us one step closer to making that vision a reality.”
The Amtrak Board of Directors approved the designation of Penn Station Partners following a competitive, open procurement process with a rigorous technical and financial review. Penn Station Partners was selected based on their proposal and successful record of project delivery, extensive experience with complex mixed-use properties and adaptive reuse of historic buildings. The team also includes JLL, HR&A Advisors, Charles Belfoure, Cho Benn Holback, Stifel, Nicolaus & Company, RK&K and Younts Design. The group was selected from a pre-qualified short list of teams following a Request for Qualifications in 2016.
Amtrak offers a more comfortable and convenient travel experience with free Wi-Fi on most trains, plenty of leg room and no middle seat. With our state and commuter partners, we move people, the economy and the nation forward, carrying more than 30 million Amtrak customers for each of the past seven years. Amtrak operates more than 300 trains daily, connecting more than 500 destinations in 46 states, the District of Columbia and three Canadian Provinces, and reaches 400 additional destinations via connecting bus routes. Learn more at Amtrak.com.