(ZeroHedge)—The Baltimore Peninsula—formerly known as Port Covington—is a 235-acre, large-scale mixed-use waterfront redevelopment in South Baltimore, which one YouTuber has called it a “billion-dollar ghost town.”
“This video explores Baltimore’s newest and swankiest waterfront neighborhood,” YouTuber “Building Tales” wrote in the description of the video, adding, “It’s a beautiful Saturday, but there’s just one thing missing … people.”
The video description continued, “On this particular Saturday I walked around for a half hour and could just about count all the people I saw on one hand. So what’s going on here… why are there all of these beautiful new buildings but seemingly no one here to use them?”
Major developers of the waterfront redevelopment project include:
- Sagamore Ventures (Kevin Plank, Under Armour founder)
- Goldman Sachs Urban Investment Group
- MAG Partners (New York-based, led by MaryAnne Gilmartin)
- MacFarlane Partners (San Francisco-based real estate firm)
Financing on the deal included:
- Public and private financing: Over $5.5 billion in total investment planned
- Largest TIF (Tax Increment Financing) in Baltimore history: $660 million approved in public bonds to fund infrastructure
So far, the struggling apparel brand Under Armour remains the large anchor tenant at Baltimore Peninsula, with a new global headquarters. Much of the surrounding office and retail space has been built on speculation, with hopes that additional tenants will follow.
According to one industry insider, a key challenge facing Baltimore City’s commercial real estate market is the growing number of competing business districts—both completed and under development—that are attracting tenants, such as Harbor East.
The broader issue is that Baltimore City Hall remains under the control of radical leftist activists whose decade-long social justice experiment has backfired, igniting recent and broader violent crime waves. The population in the metro area has plunged to a 100-year low as residents and businesses flee the crime-infested area.
Whether it’s the population collapse, violent crime, mass exodus of residents, or the sight of a “ghost town” in a major new commercial development—Baltimore’s decline all points back to one root cause: decades of failed progressive leadership at City Hall.
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.