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Your business could be a perfect match for the City of Baltimore. Baltimore’s historic Federal Hill neighborhood is vibrant and growing and home to some of the city’s best attractions. Federal Hill is known for its quiet residential streets, its lively restaurants and bars, its beautiful parks, and its unique galleries and retail stores. Federal Hill has experienced a surge of activity and development in recent years. Don’t miss the opportunity to participate in this growth. Your business will benefit from:
- An expanding high-end residential market. Nearly 10,000 households and 20,000 people are located on the South Baltimore peninsula, while over 50,000 additional households and 100,000 people are located in nearby downtown neighborhoods. From 1998 to 2004, the average home sales price in Federal Hill increased dramatically by almost 125%, with an average home price of over $221,000. In 2006, the Ritz Carlton will open a 200 unit luxury residence with home prices ranging from the $800,000’s to over $5 million. A HarborView expansion of 88 new pier homes starting from the $800,000’s is expected for 2006, also increasing the affluent consumer base.
- High levels of pedestrian traffic. Both M&T Bank Ravens stadium and Oriole Park at Camden Yards are located only blocks away from Federal Hill. Sports fans visit the neighborhood for pre- and post- game entertainment and diverse dining options. With over 13 million annual visitors, the nearby Inner Harbor is home to the National Aquarium, the Maryland Science Center, the World Trade Center, and shops and restaurants at The Gallery, Harborplace, and Power Plant. Tourists, students and residents alike take advantage of Federal Hill’s nightlife, retail, and dining experiences that have made the neighborhood one of the city’s most popular weekend destinations.
- A diverse mix of ages and backgrounds. Federal Hill has a growing number of young professionals and young families, 25% of which have a household income over $100,000. 58% of residents in Federal Hill fall between the ages of 25-49, while 24% fall between ages 50-64.
- An expanding economic environment. The energy and growth of the area has spurred considerable public and private investment. Between 1999 and 2004, public investment in Federal Hill and South Baltimore topped $51 million, while private investment totaled over $436 million.
This is an exciting time in Federal Hill, and we invite you to explore the opportunities. Historic Federal Hill Main Street's purpose is to revitalize the urban business community in ways that will preserve its unique and historic character. Talk to Federal Hill Mail Street about opening and managing a business in the neighborhood. In addition to the Discover Federal Hill marketing brochure, please review the Building Availability List for real estate opportunities, and peruse the Financial Incentives for Small Businesses in Baltimore City document, provided by the Baltimore Development Corporation. For information concerning state-funded loan programs, review the Maryland Capital Access Program and Neighborhood Businessworks Loan Program summaries. We would be happy to answer any questions you have. We hope to welcome you and your business to Federal Hill in the near future!
For more information, contact business@historicfederalhill.org or call 410-727-4500.
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