BALTIMORE, MD-The ongoing saga of whether the planned $165-million Residences Ritz-Carlton Inner Harbor will ever come to fruition continues, as developer L.I. Square Corp. watches yet another deadline on its option to purchase the property come and go. There has been no clear word on whether an agreement has been reached. The owners of the approximately 5.6 acres on Key Highway–one of whom is Richard Swirnow–and developers have been haggling over terms for more than two years, and the option to buy has already been extended twice. Construction was to have begun in the spring of 2001.

If the project gets underway, the luxury facility will offer 250 guest rooms in its hotel, about 125 condominium residences, and a 500-space underground parking garage. Completion of the project is scheduled for two years from the still unknown start date. Baltimore’s Marks, Thomas & Associates and Nichols, Brosch, Sandoval & Associates, Inc. of Coral Gables, FL are part of the project’s design team. None of the aforementioned parties were available for comment.

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