Workers are finishing the renovation of the old Investment Building in northern Towson. Now christened Towson City Center, the building will open this summer and herald a new chapter in the redevelopment of Downtown Towson.
Why is Towson City Center so important? There are a number of reasons.
Towson City Center will bring hundreds of new employees into Downtown Towson who will patronize our restaurants and other businesses. This mass of activity is absolutely critical in stimulating the downtown core. My hope is that the residential development off Towsontown Boulevard, , will have a similar effect from the south.
The redevelopment of this old building is already having an impact on Towson's skyline. The new glass skin on the building looks great.
And because Towson University is leasing 58,000 square feet of the building, there is a symbolic effect to the project. Goucher College and Towson University are critical elements of our local economy. The more we can weave these two institutions into the downtown core--administrative functions, offices, and even classrooms--the stronger the core will become.
Caves Valley Partners has invested at least $27 million in this project. County Executive Kevin Kamenetz has been a critical supporter, as was his predecessor, Jim Smith.
Last fall, I introduced legislation that modified the sign requirements for the area that includes this project. I did so because I knew Towson City Center was an essential ingredient for Towson's revitalization to move forward. With the signage now erected, I do not believe it is overpowering at all.
The prospect of a new, job-producing building in the heart of Towson is very exciting, and I thank all those who have made this project possible.