BALTIMORE (WMAR) — On Tuesday state and city leaders joined community members for the official groundbreaking for the redevelopment of Baltimore’s historic Lexington Market.
The country’s longest continuously operating market, will undergo a $40 million transformation that includes building a new market building on the current south parking lot, and demolishing the existing arcade for a pedestrian plaza on Lexington Street.
The East Market building, which has over 50 vendors will stay open during construction, which is expected to be completed mid-way through 2021.
A mix of public and private funds including New Market Tax Credits, bank loans, city grants, and $2 million from Lexington Market will pay for the project.
Baltimore City owns the 238-year-old public market, but it's operated by the City’s nonprofit Lexington Market, Inc. In October 2018, Baltimore-based Seawall Development was selected to lead the re-development project.
“This is a momentous event for the City of Baltimore and the State of Maryland and it would not be possible without the support from Governor Hogan and the Maryland General Assembly,” said Mayor Jack Young. “Lexington Market’s next chapter represents an incredible opportunity for our City, and it is essential that we support the equitable redevelopment and revitalization of this iconic hub for delicious food and homegrown entrepreneurship, as we continue to build Baltimore.”