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More Delays for $165-Million Ritz Carlton Project

BALTIMORE, MD-L.I. Square Corp., developers of the proposed Residences at the Ritz-Carlton Inner Harbor are not saying just yet if they came to an agreement with owners to purchase the land on which to build the property. The $165-million project has been in the works for over two years and construction was originally scheduled to begin this past spring.

By Barbra Murray | Updated on December 04, 2001

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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