Economic Development

Downtown Baltimore is the most significant economic asset within Baltimore City and the region.
  • Downtown is the center of the business community with 35% of all Baltimore jobs
  • Downtown is the fastest-growing residential area in Baltimore with 42,861 residents
  • $1.2 billion retail dollars were spent last year in Downtown Baltimore
  • 293 hotels rooms were under construction in 2016, with 574 more coming online in the next six years.


Downtown Baltimore supports a variety of industry sectors, including biotechnology, medicine, education, and various professional services.
  • Downtown Baltimore ranks 14th for employment density out of the top 25 largest U.S. metro areas, with 122,242 employees
  • Downtown has 28 million square feet of office space
  • Rental rates for Class A office space average around $23-$28 per square foot

Downtown Partnership has exclusive demographic datasets and maps which are invaluable resources for commercial transactions. DPOB can make connections with Downtown real estate brokers and publicize deals.


Over the past ten years Downtown has become a diverse neighborhood with residents ranging from empty-nesters and large families to graduate students and young professionals.

42,861 residents live in Downtown Baltimore. Apartment buildings are currently at a 91.3% occupancy rate, and Downtown developers are working to keep up with demand. While many cranes paint our skies as indicators of change, take a closer look at former office buildings. Developers are continuing to convert office spaces into high-end residential towers. Downtown is the City’s fastest-growing neighborhood, and new housing stock is in high demand.

Downtown Partnership maintains a database of current and upcoming housing projects and works with developers seeking opportunities to find existing buildings, assembled parcels, and pad sites appropriate for housing.

Recent Residential Conversion or Developments
  • 10 Light Street in Charles Center
  • 26 S. Calvert in Charles Center
  • 500 Park Ave in Bromo Arts District


Many architecturally and historically significant buildings have been developed to keep pace with Baltimore’s 24 million annual visitors who require a variety of accommodations. In 2016, 293 hotel rooms were under construction, with over 574 more to be added in the next six years. Downtown Baltimore’s occupancy rate is higher than those of both the region and nation, as tourists and professionals find themselves drawn here for work or leisure.

An asset to developers, Downtown Partnership has experience navigating the City’s review and approval processes, including design review and permitting. The Partnership connects developers with Downtown architects and contractors, and promotes member companies’ hotel properties.