67°
The County decided to purchase the 18-acre property in an effort to revitalize the area to ensure the growth of a vibrant community, according to Baltimore County Executive Johnny Olszewski.
“The communities surrounding Security Square need and deserve reinvestment,” said House Speaker Adrienne A. Jones. “Funding from Baltimore County and the State of Maryland to purchase the Sears Building is an important and necessary step in the revitalization of the Security Square Mall area.”
The Security Square Mall was built in the 1970s and has since been occupied by regional and national stores.
Recently, several major tenants have shuttered their stores, that still remain vacant, leaving the site in a declining and underutilized state.
“I am happy to see this project continue moving forward,” said Baltimore County Council Speaker Julian Jones. “This substantial investment will add to the ongoing redevelopment of Security Square Mall, promoting a vibrant area for Baltimore County residents to enjoy.”
The County will acquire the parcel using $10 million dollars in capital funds committed in the Fiscal Year 2023 budget as well as state capital dollars.
Olszewski's administration is planning a charrette to take place this fall in hopes to engage the community in a process that will reimagine the mall into a community-focused anchor.
The purchase is subject to approval by the County Council on Sept. 6, and will go to closing by Sept. 30.
Click here to follow Daily Voice Gaithersburg and receive free news updates.
