Baltimore’s spending board agreed to lease the city’s Inner Harbor marina facilities to Harborplace developer P. David Bramble on Wednesday for 20 years in exchange for a small share of revenue.
The lease, which the board approved without discussion, gives Bramble’s MCB IHM control of the 125-slip marina along Key Highway and calls for it to manage and operate it as a “first class” facility.
The agreement includes the city’s office and restroom facilities situated beneath the Rusty Scupper, along with the city-owned fuel station outside the restaurant.
MCB paid $1 for the arrangement, which calls for the city to receive 6% of gross revenues, estimated to be $1 million over the life of the lease. The Baltimore Development Corp. put out a request for proposals for the lease in late 2023.
The lease further solidifies MCB’s stronghold over the Inner Harbor. Bramble already had control of the nearby Harborplace pavilions, which he plans to raze in favor of five large buildings that would reshape the iconic waterfront. The project is expected to cost $900 million, about $400 million of which is expected to come from taxpayers.
MCB and its principals have supported Mayor Brandon Scott politically. Collectively, they have contributed $26,000 to Scott’s campaign since 2022.
The Inner Harbor Marina was leased previously to 400 Key Highway Piers LLC, a group associated with developer War Horse Cities. Baltimore and the company mutually agreed to terminate that agreement in 2023, according to city records.
Documents show the marina lost almost $100,000 in 2021, in the throes of the pandemic. The losses eased but continued: it lost $56,000 in 2022, and $18,000 through the first seven months of 2023.
Bramble incorporated the limited liability corporation that will run the marina in September, according to documents filed with the state.
Alexandra Hughes, a spokesperson for MCB, said the company was interested in the marina because it will “ultimately be part of the broader Inner Harbor experience.”
“We want to make sure we can link the assets and put that all together to make it sync,” she added.
Hughes said MCB plans to invest in safety and maintenance improvements.
The agreement, which has two optional five-year renewals, requires MCB to provide security for the marina, including gates, cameras and alarms. The deal also calls for MCB to take “reasonable steps” to increase revenue from the marina and “enhance the stature and reputation” of the facility.
Rates at the city-owned slips have typically been affordable, but the lease calls for rates to be competitive with other marinas on the Chesapeake Bay. Boaters can pay to use slips for as short as a few hours or up to a year.
A base rate structure is provided in the lease, and revisions have to be approved by the city. Boaters who dock at the city marina have use of showers, laundry and a lounge located beneath the Rusty Scupper.
The lease is the city’s latest step toward breathing new life into its underused piers. Last year, Mike McGeady, the city’s first harbormaster in decades, came on board. McGeady refreshed the marina’s listings online, took down signs restricting docking and began efforts to promote the city property.
It’s unclear what impact the new lease will have on McGeady, whose office is located on the same property. Reached Wednesday, McGeady said he was not authorized to speak about the lease and referred questions to the Department of Transportation. A spokesperson for that office did not respond to a request for comment.
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