On November 16th, students from Carey Business School’s Real Estate & Infrastructure graduate program traveled to the first Baltimore Real Estate & Economic Development Symposium, hosted at the new Port Covington project by Sagamore Development in Baltimore, MD. The purpose of the symposium was to discuss the development process and how to creatively re-imagine the impact it can have on the future of Baltimore as a developing city. The symposium was moderated by Carey Faculty member David Wilk, and hosted remarks from influential public figures such as Baltimore Mayor-Elect Catherine Pugh, MD Department of Commerce Secretary Mike Gill, and Congressman Elijah Cummings.
The symposium hosted two panels to discuss “Place-Making & Transforming Undervalued Neighborhoods” as well as “Asset Optimization, Analytics, and Shared Value Outcomes for Cities.” Throughout these panels the message was clear: Baltimore City is brimming with opportunity, and Mayor-Elect Pugh plans to collaborate with public and private institutions to invest in unlocking Baltimore’s future potential. Secretary Gill stated that thanks to the “three P’s of development: people, passion, and Pugh,” Baltimore will soon be considered an example of how to develop livable cities, while creating inclusive economic development and prospering environments.
For students like me, the symposium was both an informative and inspiring experience to hear industry leaders discuss the possibilities available to create innovative districts and inclusive clusters. Specifically, Thomas Osha from Wexford Science and Technology touched on the ever-changing markets for development. He referred to outdated models for innovative districts and the necessity to consider new models to attract young talent. Mr. Osha stressed the correlation between successful innovative districts and a well-educated, talented workforce. Carey Associate Professor Dr. Lindsay Thompson also shared her experiences with CityLab and emphasized the importance of inclusive development and affordable housing. Dr. Thompson gave insight into the developer’s role of improving distressed neighborhoods. Overall, the data showed that when developers bring together a diverse team of individuals throughout the planning, execution, and operations process, projects succeed and serve the community as a whole.
In all, the symposium was an absolute success and shed light on topics that will have a lasting impact on the future of the development process across the nation and in Baltimore. The Carey community looks forward to the continuation of this new tradition, and to adding new insight to the symposium annually. A special thanks to the Carey Real Estate Club, Johns Hopkins Real Estate Alumni Forum, and Sagamore Development for hosting such an informative and relevant symposium. The future of Baltimore is bright, and the students from Johns Hopkins Carey Business School are excited to help instill these changes to conduct business with humanity in mind.