A 15-story tower for University of Maryland, Baltimore graduate students cleared a major hurdle downtown. Baltimore's spending board unanimously approved a long-term tax deal for UMB's North Quad, a $160 million development with a high-rise residential and retail building, The Baltimore Banner reported.
The project is part of the university's push for a "college town" feel on the west side of downtown Baltimore, Maryland.
What's planned on West Lexington Street
The plan calls for a 15-story, 404-unit, 730-bed residential building in the 600 block of West Lexington Street, near UMB's downtown campus. It's built for graduate students and rented by the bed. The ground floor adds about 16,000 square feet of retail.
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Right now the site is a parking lot. As one official put it to the Banner, the city keeps collecting what it gets today, which is zero.
The Downtown RISE tax deal
The deal is a payment in lieu of taxes under the city's new Downtown RISE program. It will abate $80 million over the next 25 years, according to the Banner, and erases up to 95% of property taxes for 25 years. The developer pays an annual fee instead.
UMB's president committed to keeping the property on the tax rolls after the abatement ends, and the city comptroller wants that commitment in writing, the Banner reported. A coalition of community groups argued the discount was too steep and too long, and The Baltimore Sun headlined its coverage Baltimore approves 25-year tax break for $160M development despite concerns.
A later phase, a South Quad, may seek its own deal.
Baltimore building permits now
The North Quad still needs its building permits before work starts. Across the city, Baltimore issued 791 building permits in the 30 days through October 31, 2026, with $79.3 million in reported value, according to our Baltimore building permits page.
Common questions about the UMB North Quad
Where is the UMB North Quad project?
It is planned for the 600 block of West Lexington Street in downtown Baltimore, near the University of Maryland, Baltimore campus.
How big is the UMB North Quad building?
The plan calls for a 15-story residential building with 404 units and 730 beds, plus about 16,000 square feet of retail.
What tax break did the UMB North Quad get?
A payment in lieu of taxes under Baltimore's Downtown RISE program that abates $80 million over 25 years.
Sources
- Baltimore approves 25-year tax savings for UMB 'college town' project, The Baltimore Banner
- Baltimore approves 25-year tax break for $160M development despite concerns, The Baltimore Sun
- Baltimore building permits, Morningline Leads
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