April 13, 2021
“Not surprising the State of Downtown Report shows that the prolonged pandemic weighed heavily on commercial real estate vacancies and employment in the downtown area in 2020, as it did across the country. There is still a lot of uncertainty ahead as employers determine when to reopen or call workers back into the office. Despite a challenging year and the unpredictability that lies ahead, there are a lot of reasons to be optimistic about downtown Baltimore’s future. Residential demand is strong, and there were a number of retail and restaurant openings as well as major leases signed despite the pandemic. This clearly signals that people are looking past the pandemic and find downtown to be a very attractive place to live while employers see it as an excellent location to be based. The rebound downtown will pick up steadily as vaccinations increase and confidence in the economy strengthens.”
ABOUT THE GREATER BALTIMORE COMMITTEE
The Greater Baltimore Committee (GBC) is a regional organization of business and civic leaders that includes businesses, nonprofit organizations and educational and civic institutions. It is the leading voice for the private sector in the Baltimore region on issues relating to economic growth, job creation, workforce development, transportation, the business climate and quality of life. The GBC’s membership is comprised of over 500 member organizations, including large, mid-size and small companies, nonprofits, education and foundations in the Greater Baltimore region.