May 30, 2008 10:13 am US/Eastern
Ritz-Carlton Opens Luxury Condos In Baltimore
BALTIMORE (WJZ) ―
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The debut of the new Ritz-Carlton Condominiums brings some of Baltimore's finest to the Inner Harbor.
CBS
The life of luxury is brought to Baltimore.
The debut of the new Ritz-Carlton Condominiums brings some of Baltimore's finest to the Inner Harbor.
Kathryn Brown explains how the new development can bring big money into the city.
It's expected to bring in about $800,000 in property taxes alone. That's just for starters. The condos will also bring in jobs.
The newest neighbor in Federal Hill puts on the Ritz for a night of glitz and glamor.
The first ever Ritz-Carlton Residences held its grand opening in grand style, showcasing its luxurious condos that sell for between $1 million-$5 million.
Exclusive resident only lounges, a state-of-the-art indoor pool and a decadent, no-expenses spared spa are all part of the experience. Laundry, room service and housekeeping are also offered by the Ritz staff.
It sends a statement to some.
"We're a big city. It sends the message that our development is thriving and that people should come to Baltimore," said Baltimore resident Sandra Long.
The bank-busting condos are expected to spark Baltimore's economy by attracting wealthy, high-powered residents to the city.
"It's really going to attract a whole level of people here to the city," said Mayor Sheila Dixon.
Some in Federal Hill are wondering if the price tag is perhaps too high for their eclectic community.
"This sends a massive signal about the quality of what Baltimore offers. I think it's just the beginning," said Scott Lawrence.
Right now, 113 out of 192 condos were sold. The first residents are expected to move in early June.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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