BALTIMORE FOOD HUB INC

THE BALTIMORE PUMPHOUSE IS A MULTI-PHASED, $27M INITIATIVE TO ESTABLISH A SMALL BUSINESS TOWN CENTER IN THE HEART OF A SEVERELY DISTRESSED COMMUNITY THAT WAS ONCE AN EPICENTER OF BUSINESS AND RETAIL. THE BALTIMORE PUMPHOUSE HAS EXPANDED TO EIGHT BUILDINGS (SIX OF WHICH ARE HISTORIC) (THE "PROJECT") LOCATED AT THE CORNER OF N. WOLFE AND N. GAY STREETS, IN BALTIMORE'S BROADWAY EAST COMMUNITY (THE "PROPERTY").THE PROJECT SPONSOR, AMERICAN COMMUNITIES TRUST ("ACT"), IS A NON-PROFIT COMMUNITY DEVELOPMENT PARTNER SPECIALIZING IN CREATING INCLUSIVE ECONOMIC DEVELOPMENT PROJECTS THAT BRING GROWTH AND PROSPERITY TO LOWINCOME RESIDENTS. THE FIVE BUILDINGS THAT CONSTITUTE THE BALTIMORE PUMPHOUSE WERE BUILT 125 YEARS AGO AS THE WATER PUMPING STATION FOR EAST BALTIMORE.VACANT SINCE THE 1990'S, THE CONDITION OF THE BUILDINGS WAS SO DERELICT THAT THEY BECAME THE PERFECT FILMING LOCATION FOR THE WIRE. KEY OBJECTIVES OF THE PROJECT INCLUDE: ELIMINATING FOUR ACRES OF BLIGHT FROM A SEVERELY DISTRESSED COMMUNITY, SUPPORTING MINORITY AND LOCALLY OWNED SMALL BUSINESSES; LOCAL JOB CREATION; INCREASING OPPORTUNITIES FOR COMMERCE AND THE CIRCULATION OF THE DOLLAR WITHIN THE COMMUNITY; RELIEVING PRESSURE ON AND UTILIZATION OF SOCIAL SERVICES; INCREASING DIRECT ACCESS TO HEALTHY FOOD; AND RESTORING HISTORICAL TREASURES. THIS MULTI-PHASE STRATEGY IS CURRENTLY IN ITS FINAL PHASE FOR COMPLETION.THE WORK DONE TO DATE INCLUDES:CONSTRUCTION COMPLETED IN AUGUST 2017: COMPLETED ENVIRONMENTAL REMEDIATION, SITE WORK AND REPAIR OF ESSENTIAL INFRASTRUCTURE, WHILE BUILDING NEW 8,000 SF COMMERCIAL PRODUCTION AND TEACHING KITCHENS (BUILDING 7-NEW CONSTRUCTION).CONSTRUCTION COMPLETED IN OCTOBER 2019: REHABILITATED THE HISTORIC STOREHOUSE (BUILDING 3). TODAY, THE 9,890 SF STOREHOUSE SERVES CREATIVES, HOUSING A PHOTOGRAPHY AND MOTION STUDIO AND FASHION ATELIERS.CONSTRUCTION COMPLETED IN NOVEMBER 2022: REHABILITATED 6,830 SF HISTORIC STABLES (BUILDINGS 5 AND 6) AND CONSTRUCTING A NEW CONNECTOR BETWEEN BUILDINGS 5 AND 6 TO FORM ONE SINGLE BUILDING. THE HISTORIC STABLES WILL HOST WEDDINGS AND SMALL CONFERENCES. COMMENCEMENT OF CONSTRUCTION ON BUILDING 1 (AS OFFICES AND FLEX SPACE UNDER PRE-LEASE) IN JUNE 2024.