In the previous article of our Blog we analyzed the first two points of our journey to discover Baltimore and the reasons that make it an interesting city for your real estate investments.
We have already seen that the Baltimore real estate market is constantly growing and that the port of the city generates about 15,330 jobs.
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Let's now discover the last 3 curiosities about the “City of Neighborhoods”.
3) A day's drive from half the US population
Baltimore is located in an extremely interesting area for the logistics sector. Its location in the densely populated and economically vibrant Washington, DC – Boston corridor is a key asset to its continued economic development. The city is, in fact, reachable in a day's drive by half of the country's population.
Baltimore began pre-positioning itself, long before COVID-19, for the "new economy" of goods moving directly and rapidly from producers to consumers.
The basic precept of e-commerce is to agglomerate as many goods as possible as close as possible to as many people as possible for rapid distribution. In this sense, Northern Maryland occupies a prime location along the southern link of the I-95 corridor that stretches from Washington, DC to New York.
For this reason, in recent years, several industrial redevelopment projects have been carried out in the city that see logistics as the first beneficiary sector.
Tradepoint Atlantic is perhaps the most important project with its 1,295 hectares of development. Officially launched with the opening of the FedEx distribution center in 2017, Tradepoint Atlantic has quickly reached 60% construction, and already supports approximately 10,000 jobs at the site of an iconic former steel mill.
With an enviable combination of deep water berths, railways, highway links and storage space, Tradepoint Atlantic has attracted major retailers including Amazon, Home Depot and Floor Décor. Volkswagen has created a new port and processing facility that will serve around 300 dealerships in the mid-Atlantic. McCormick and BMW are moving to the area and Amazon is working on its third installation.
All these developments continue to attract skilled workforce to the city.
4) Home of Johns Hopkins University
Baltimore's most valuable asset is its brainpower. And the place par excellence where these are grown is Johns Hopkins University.
The private college was founded in 1876 and is considered the first "research university" in the whole of the United States.
Equally important and famous is the Johns Hopkins Hospital, or the hospital, also known for teaching medicine, of Johns Hopkins University. It is considered the first in the USA for 21 consecutive years.
The concentration of important talent cultivated at esteemed institutions that also include, the University of Maryland, the National Institutes of Health, the Food and Drug Administration of the United States, the National Security Agency and the National Institute of Standards and Technology, has led to the development of further major redevelopment projects such as Port Covington, a multipurpose center dedicated to life sciences, cybersecurity and computer sciences.
This solid scientific and applied research base offers companies a unique opportunity to collaborate and exploit these resources for investment and development. Precisely for this reason Baltimore has six other key industrial sectors, in addition to logistics, which present opportunities for future growth: financial and professional services, health technology and biosciences, culture and tourism, creative and information services, advanced manufacturing.
5) 26 million tourists a year visit Baltimore
Baltimore attracts 26.7 million visitors annually. Tourism generates $ 5.9 billion in direct spending, producing $ 734 million in state and city revenue and supporting more than 86,400 jobs.
Here are the top reasons tourists love to visit Baltimore.
The sense of community.
When people compare Baltimore and its neighboring capital Washington, DC, they say the first thing people in DC ask you is what you do. In Baltimore, they ask you what you like to do. Baltimore has a neighborhood and community vibe where people don't judge you based on your profession.
The art scene.
The city is home to Artscape, the world's largest free art festival, and Light City, a large-scale festival of lights, music and innovation that literally lights up the Inner Harbor every year with unique art installations. Public murals are also an important part of the city's landscape.
Architecture.
Baltimore's architecture is part of the reason it's called Charm City. From colorful brownstones in the Abell neighborhood to intricate Catholic churches in Mt. Vernon and downtown art deco buildings to redevelop former industrial areas.
Natural beauties
Baltimore has a number of green spaces within the city limits, including Gwynns Falls / Leakin Park, which is the second largest forest park in the United States.
