Spinnaker Bay occupies an entire square block on the waterfront known as Parcel P, which is bound by Lancaster, President, Aliceanna, and Exeter streets. Ultimately, the property will feature 316 rental apartments, 32 for-sale condominiums, nearly 42,500 sf of retail space, and a parking garage capable of accommodating more than 400 vehicles. The various components will be housed in structures ranging from eight to 18 stories high, all architecturally designed to create the illusion of a large compilation of separate structures. "The project's scope, design and development team are all positives," BDC president MJ Brodie says.

The State of Maryland pushed the Pilot program through legislation in 1999, leaving the city with the power to orchestrate Pilot partnerships with developers seeking to build certain projects that would be helpful in revitalizing a neighborhood in one of the eight designated Urban Renewal Areas. Spinnaker Bay satisfies not just one, but three of the five requirements for Pilot eligibility because it features a multifamily housing element, a retail facility that will provide well over the 100 full-time job minimum, and a sizable off-street parking facility. Spinnaker Bay is expected to be ready for occupancy--by both residents and retail tenants--in mid-2005.