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Baltimore Business Journal
8 things to know: Fleet Week kicks off busy week downtown (Photos)
Good morning readers. The sun's comin' up, and I've got cakes on the griddle.<\p> NBA legend Jerry West died yesterday at 86. West was an All-Star in all 14 seasons of his playing career — the polar opposite of my Little League career — and won a total of nine championships throughout his time as a player, scout, coach, general manager and consultant. <\p>
Health system to merge with 500-person mental care provider
Meritus Health will merge with one of the largest mental health providers in the state, marking another phase in the Hagerstown health system's massive growth. <\p> Hagerstown-based mental care provider Brook Lane will join Meritus Health in July. As part of the deal, Meritus Health will invest $25 million in capital improvements and expansion efforts at the mental health facility, Meritus CEO Maulik Joshi said. The combined network will have 4,000 staff — 3,500 from Meritus and 500 from Brook Lane — cementing Meritus' crucial role in the Western Maryland health care industry. <\p>
Cross Keys revival continues with major restaurant opening
Executive Chef Nick Sharpe stood in the elegant dining room of Cece's Roland Park Wednesday and looked around at the rows of tables set for the grand opening of the Village of Cross Keys restaurant.<\p> Within a day, his kitchen staff would be turning out custom specialties like Dover sole, prime filet flavored with aged balsamic and vanilla onion marmalade, king salmon with fennel, orange and smoked trout roe, and ricotta gnocchi with truffle butter. Asked to describe the atmosphere in a word, Sharpe said simply, "approachable."<\p>
New firm hired to lease Camden Yards warehouse
A new firm is taking a crack at leasing one of Baltimore’s most unique office buildings.<\p> The Maryland Stadium Authority selected Rockville-based Scheer Partners to take the lead on leasing out the Warehouse at Camden Yards. Scheer replaces national real estate brokerage firm Cushman & Wakefield as the leasing agent for the historic 430,000-square-foot building. Nathan Crowe, a senior vice president for Scheer, said the company plans on introducing new “tenant incentive programs” as well as new building amenities to attract companies. <\p>
Firm grows local presence with $10M upgrade to drug testing facility
An international pharmaceutical company has invested $10 million into upgrades at a Baltimore facility that houses people testing new drugs.<\p> Parexel executives showed off the renovation to its branch inside MedStar Harbor Hospital on Wednesday that adds new amenities and more space for volunteers participating in drug trials. The renovation adds 12 beds to the formerly 60-bed facility to accommodate people who must be monitored while participating in clinical trials. MedStar works with Parexel on many of these trials, as the facility allows patients to participate in cutting-edge treatment if they've exhausted other options for a chronic or terminal illness. <\p>
The Playbook: The common pay threads for high-performing companies
Editor's Note: Welcome to The Playbook Edition, a look at stories, trends and changes that could affect your business and career. Want more stories like this in your inbox? Sign up for The Playbook newsletter. <\p> During a time when more workers expect transparency around pay, most top-performing companies are proving to be forthcoming — but that's not the only common thread. <\p>
NAR settlement threw a wrench into VA loans but a fix is coming
The class-action lawsuits that rocked the residential real estate industry over the past year have resulted in nearly $1 billion in settlements so far — and also put in place changes that could have hurt veterans’ ability to shop for homes.<\p> The National Association of Realtors and big brokers such as RE/MAX Holdings Inc., Anywhere Real Estate Inc. and Keller Williams Realty Inc. agreed to prohibit mandatory so-called “cooperation agreements,” in which sellers pay both the selling agent and the buyers agent commission for a sale, in exchange for being allowed to list a home on a multiple listing service.<\p>
Developer readies teacher housing, apartments in $100M project
Tenants will move into a handful of rehabbed rowhomes in Baltimore's Johnston Square neighborhood this summer as part of a $100 million wave of development. <\p> The five three-bed, three-bath homes starting at 430 E. Biddle St., across the block from St. Frances Academy on East Chase Street, are the first of 15 rowhomes undergoing rehabilitation specifically to house teachers. The units, once completed, will stretch to 630 E. Biddle St. and make up Teachers Square, one piece of community developer ReBUILD Metro’s current $100 million phase that will also bring a multifamily apartment complex, a makerspace, a park and dozens of other rehabbed homes to the neighborhood in 2024 and 2025.<\p>
Baltimore-area contractor expands south with two new offices
One of the largest construction contractors in Greater Baltimore has opened two new offices in Virginia and North Carolina as it continues to expand south. <\p> Harkins Builders now employs a total of 20 people in its new Richmond, Virginia, and Raleigh, North Carolina, offices and has roughly $75 million in projects in the surrounding areas, said Joshua Zilke, vice president of the Southeast. <\p>
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