17 Aug Old Steel Site Readies For Life As 21st-Century Logistics Hub
Only a handful of structures remain at the 3,100-acre Sparrows Point complex in Baltimore from its heyday as the world’s largest steel mill, but, at present, the expanse seems equally far removed from its new owners’ long-term vision of the site as a major multimodal logistics and distribution hub.
Yet as trucks haul away demolition debris from the far reaches of the property—which abuts a 50-ft-deep channel and was rebranded in January as Tradepoint Atlantic to boost its global appeal to new tenants—the first evidence of the hoped-for economic metamorphosis is visible.
Construction is underway on a 48-acre site for FedEx Ground’s new, 300,000-sq-ft warehouse, set to begin operations next year. Talks are in varying stages with other possible tenants, who would get state-provided tax incentives, say media reports.
Baltimore County also seeks up to $100 million from the state for transportation upgrades. As many as 12,000 jobs are envisioned over the next decade.
Since Sparrows Point was purchased in 2012 by Redwood Capital Investments, Hanover, Md., and Hilco Global, Northbrook, Ill., much of the former 17-million-sq-ft industrial complex has been leveled by MCM Management Corp. As scattered piles of varied debris are sorted, the demolition firm claims to have already recycled more than 1.28 million tons of steel, copper and aggregate, along with 245,000 gallons of oils and 157,000 lbs of batteries.
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