Towson Row Development Hopes To 'Breathe New Life Into Downtown Towson'
TOWSON (WJZ) -- The Towson Row Development has been on hold for years, but not anymore. Five empty acres off York Rd. are finally getting a $359 million makeover.
The project will have two hotels, retail and office space, and apartments.
"In addition to turning this hole in the ground to an exciting place to shop, work, dine, live, and play, Towson Row has significant economic benefits," said Rian Gibbons, CEO of developer Greenberg Gibbons.
"It's going to generate $5 million in annual property tax revenue," said Baltimore County Executive Don Mohler. "And create 5,500 jobs."
Towson Row will also contain 300 off-campus housing units for Towson University students.
"We have about a 2,500 bed shortage, so to be able to have student housing come in is very important," added Towson University President Kim Schatzel.
The county also worked with the developer, chipping in a controversial $43 million in public financing.
Backers like Mohler see it as an investment to "really breathe new life into downtown Towson."
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