Baltimore Development Corporation Wins Two International Economic Development Awards for Transformative Projects

The Baltimore Development Corporation has been honored with two 2025 Excellence in Economic Development Awards from the International Economic Development Council for cities with populations exceeding 500,000. The prestigious awards recognize transformative economic development projects that have created significant community impact, with BDC earning a Gold award in the Innovative Financing category for Harbor Point and a Silver award in Real Estate Development & Reuse for 4MLK.

Nathan Ohle, IEDC president and CEO, emphasized the significance of BDC's achievements, stating that Baltimore demonstrates what it means to deliver transformative projects at scale. The IEDC's annual Excellence Awards program highlights initiatives that drive community revitalization and advance economic development practices, showcasing models with lasting, transformative impact across communities and regions.

Baltimore Mayor Brandon M. Scott expressed pride in the international recognition, noting that BDC and their partners are driving Baltimore's Renaissance forward. The mayor highlighted how these projects represent more than just business moves, serving as sources of opportunity for residents and demonstrating what can be accomplished through intentional community investment. The recognition validates Baltimore's approach to building a stronger, more inclusive city through strategic economic development.

The Harbor Point project, which earned the Gold award for innovative financing, retains major employers including T. Rowe Price, Morgan Stanley, and Exelon while adding a new five-acre public waterfront park for community use. This balanced approach combines corporate retention with public amenities, creating both economic stability and quality-of-life improvements for Baltimore residents.

The 4MLK project, receiving Silver recognition, serves as a new gateway connecting the University of Maryland BioPark, the University of Maryland, Baltimore, and the University of Maryland Medical Center. The development delivers crucial life sciences expansion space alongside public benefits including an open public plaza, publicly accessible community space, and new retail opportunities along Baltimore Street and Martin Luther King Jr. Boulevard.

Otis Rolley, president and CEO of BDC, attributed the awards to the power of collaboration, noting that the recognition reflects the organization's commitment to building an accessible Baltimore where inclusive and sustainable economic growth becomes reality. The international honor acknowledges the lasting, positive change being created in Baltimore through strategic partnerships and community-focused development.

BDC shares this recognition with key partners including Beatty Development, Wexford Science & Technology, and the University of Maryland BioPark, along with their design and development teams. The awards were presented at the IEDC 2025 Annual Conference in Detroit, Michigan, on September 15-16. For more information about the IEDC's awards program and current winners, visit https://www.iedconline.org.

These awards signal Baltimore's emergence as a model for effective urban economic development, demonstrating how public-private partnerships can drive both economic growth and community benefits. The recognition positions Baltimore as a city successfully balancing corporate retention, public space creation, and strategic development that serves both business and community interests.