By Megan Sayles
AFRO Staff Writer
msayles@afro.com
The Downtown Partnership of Baltimore (DPOB) unveiled its 2024 State of Downtown report on March 20. The annual analysis provides updates on key indicators of the health of Baltimore’s Central Business District, including data on employment, tourism, employment, vacancies and public safety
According to DPOB’s president, Shelonda Stokes, downtown is in the midst of a transformation.
“A growing population drives the need for new housing, retail and entertainment options. The adaptive reuse of office space, the steady influx of new businesses and the relocation of 5,000 state employees from State Center into the core of downtown further reinforce the area’s resurgence,” said Stokes in the report. “Building on Governor Wes Moore’s declaration that this is Maryland’s decade and Baltimore’s time, we affirm that this is downtown’s moment to redefine what’s possible.”
Downtown Partnership of Baltimore (DPOB) President Shelonda Stokes, left, leads a March 20 panel discussion with Vaki Mawema, principal and co-managing director of Gensler Baltimore; Baltimore City Mayor Brandon M. Scott and Stephen Leeper, president and CEO of Cincinnati Center City Development Corporation. The conversation took place during a breakfast to reveal DPOB’s annual State of Downtown report. (Photo courtesy of Downtown Partnership of Baltimore)
Examining employment, office space and retail
In 2024, the top five employment sectors in downtown Baltimore were health care and social assistance; professional, scientific and technical services; public administration; accommodation and food services; and finance and insurance. As a result of Baltimore’s designation as a federal Tech Hub and Governor Wes Moore’s $1 billion “Capital of Quantum” Initiative, jobs in the technology, creative services and life sciences industries are expected to grow in the future.
However, compared to 2023, employment has declined. In 2024, the employed population amounted to 132,288 people, and in 2023, it was 133,950.
In an effort to stimulate downtown, Maryland has been relocating state agencies to the Central Business District since 2023. So far, 1,448 state employees have made the move, filling nearly 300,000 square feet of previously vacant office space. The remaining 3,500 employees will be relocated between 2025 and 2026.
In spite of this effort, the share of vacant office space increased from 2023 to 2024 downtown. In 2023, 19.76 percent of offices were vacant compared to 21.7 percent in 2024. To curb this, DPOB has been pushing the conversion of these empty offices into retail and residential spaces.
One example of this is the redevelopment of Fidelity and Deposit Building at 210 N. Charles Street, which will revamp the long-vacant property into 231 residential units and integrate 30,000 square feet of ground-floor commercial space. The project is expected to be completed in September 2025 and will reduce Baltimore’s office vacancy by 240,000 square feet.
DPOB characterized downtown’s retail presence as strong with an occupancy rate of 93 percent. Since the pandemic, retailers have experienced a 96 percent recovery. In 2024, downtown retailers made $908 million, up $8.5 million from 2023.
Boosts from tourism, arts and entertainment
At the heart of downtown is the Bromo Arts District. It features more than 30 creative organizations, including theaters, galleries, artist studios and performance venues. One of these venues is the CFG Bank Arena. Since its $250 million facelift in 2022, the arena was ranked 4th in North America and 10th in the world by Billboard in 2023.
In 2024, 172 live performances took place in CFG Bank Arena, 37 percent of which were sold out. Nearly 1.5 million people attended these shows, generating $105 million in gross ticket sales.
A staple event in downtown’s entertainment scene, The Center Intercollegiate Athletic Association (CIAA) Men’s and Women’s Basketball Tournaments brought thousands of visitors to the city in 2024. Its total economic impact in 2024 was $32.5 million with a direct spending of $23.6 million. It also supported more than 1,300 jobs and contributed $3.1 million to state and local tax revenue.
The Baltimore Convention Center, another hotspot for tourism downtown, is currently considering renovation. In 2024, the Maryland General Assembly established the Baltimore Convention and Tourism Redevelopment and Operating Authority Task Force to study and recommend ways to revitalize the building.
Public safety strides
As downtown shifts to accommodate more residents, enhancing public safety has become a top priority. DPOB is partnering with the University of Maryland, Baltimore (UMB) to create the Strategic Operations Center (SOC). The hub will assemble law enforcement, city agencies, business leaders and community organizations to devise proactive and prevention-based strategies to reduce crime. A pilot of the SOC will launch in the fall at UMB’s campus before moving to a permanent location.
In 2024, overall crime was down by 6 percent downtown, Stolen vehicles and shootings also decreased by 46 percent and 45 percent respectively. However, larceny, the theft of property not taken by force, increased by 16 percent.
