Goldman Sachs Group Inc.'s Urban Investment Group has invested $233 million in Sagamore Development Co.’s redevelopment of Port Covington in Baltimore.
Sagamore Development is planning a $5.5 billion mixed-used development on 235 acres, with offices, homes, restaurants, green space, as well as a new headquarters campus for Armour.
Construction on the site began last year. Sagamore Spirit’s new waterfront distillery will be one of the first buildings to open on April 21.
Port Covington development is predicted to take 20 years to complete.
Sagamore Development and the Goldman Sachs Urban Investment Group have agreed to jointly own the project and develop the infrastructure at the Port Covington site.
