Baltimore County Executive Kevin Kamenetz called for the owners of Sparrows Point to adopt a task force report as a guide to redeveloping the peninsula.
The executive’s announcement follows news earlier this summer that Redwood Capital Investments LLC is negotiating with Hilco SP LLC to purchase a large portion of the property.
“Earlier this summer, reports surfaced that a local investment group was involved in serious negotiations to acquire and redevelop Sparrows Point,” Kamenetz said in a news release. “While there are very few public details at this time, I can state that this is very encouraging news for Baltimore County, the region and the State of Maryland… I remain confident that Sparrows Point is once again poised to put thousands of people back to work. The vision outlined by the Partnership is a road map to the future. It is clear, concise, and focused on job creation.”
The plan, developed by Sparrow’s Point Partnership, lays out specific recommendations for future development at the site and even includes recommendations as to what kind of uses, such as advanced manufacturing, distribution and energy, should go on the site.
Steel had been produced at Sparrows Point dating back to the 1880s until the mill was closed in 2012. Hillco and Sparrows Point LLC then purchased the property for $72 million at auction in a joint venture. Hilco, which initially owned the above grade improvements, machinery and improvements, later bought the property from Sparrows Point with the intention of selling it to a local investment group.