Pikesville, MD Armory Master Plan and Feasibility Study

Pikesville (MD) Armory Advisory Group

BAE Urban Economics was responsible for the market analysis and other economic components of a Master Plan and Feasibility Study for the adaptive reuse of The Pikesville Armory in Pikesville, Maryland.

The property was built in 1903 to support the expansion of the National Guard program. In 2012, in parallel with its plans to relocate several military units to other facilities across the state, the Maryland Military Department initiated disposition plans for the Property. In July 2019, the Pikesville Armory Advisory Group—comprised of 15 state, county, and local entities—engaged a multidisciplinary team to conduct a Master Plan and Feasibility Study for adaptive reuse of the property.

The study team, working with community-based advisory group, identified several potential options for adaptive reuse of the property, including developing some combination of a recreation center, an arts and culture center, for-sale residential units, multifamily rental units, retail and even office space.

Developers with experience in adaptive reuse from around the Baltimore area were provided an opportunity to tour the site to provide input of into the feasibility of redevelopment, which included insights into the magnitude of investment needed, the applicability of tax credits and other financing techniques, and the potential yield of residential and nonresidential space. This insight was critical to assessing the economic development and housing opportunities presented by the site as well as the kinds of financing options and requirements that the project faced.