Mark Sapperstein is no longer under contract to buy Under Armour's former Tide Point headquarters, leaving the sprawling Locust Point waterfront complex without a clear path forward. The developer confirmed Wednesday that the tentative deal, which would have sent the sportswear giant's old home to his firm, 28 Walker Development, never formally closed — meaning Under Armour still owns the property outright.
According to The Baltimore Banner, Under Armour had reached a tentative agreement in 2025 to sell the Tide Point land to Sapperstein, but that arrangement has now collapsed, leaving the property's future undetermined. Under Armour spokesperson Matt Dornic declined to comment on the matter, the outlet reported.
Separately, Cristo Rey Jesuit High School had considered repurposing the Cheer Building across the street from Tide Point as a potential new campus, but its board chair said the costs ultimately deterred the plan. The Baltimore Business Journal reported that earlier concepts for the Cheer Building had included the potential move of a private school alongside housing, retail and hospitality offerings.
A Complex With a Long Industrial History
Tide Point sits on the northern side of Locust Point in Baltimore, a waterfront parcel the Banner describes as covering 12 acres — though a separate SouthBMore.com report pegs the complex at 14.6 acres with 406,569 square feet of building space. The property was formerly a Procter & Gamble soap factory, with the company operating a plant there for most of the 20th century before it was transformed into an office complex in 2004, per the Banner.
Under Armour used Tide Point as its headquarters for two decades before relocating to a new office at Baltimore Peninsula in 2024. That move, SouthBMore.com reported, was expected to leave more than 700,000 square feet of vacant commercial space across two adjacent Locust Point complexes, with Under Armour saying at the time that it was continuing to evaluate the future of its Tide Point properties.
The site is flanked by Domino Foods' refinery and a bulk liquid storage facility, giving it an industrial backdrop even as the surrounding neighborhood has drawn new residential interest. Zac Blanchard, who represents the area around Tide Point, described the property to the Banner as “it's really gorgeous,” and said he hopes any future development incorporates senior housing.
A Separate Project Moves Ahead Nearby
While Tide Point's fate remains unresolved, Sapperstein is pressing forward with a separate project just across the street. He plans to continue developing the Cheer Building, which he purchased last year, after his plan to sell it to Cristo Rey Jesuit High School also fell through. The Cheer Building was initially intended for rowhomes, and with the school deal dead, Blanchard said it is now slated for 122 rowhomes and a parklet.
That figure has shifted over time: an earlier Banner report described Sapperstein's plan for the site as a 120-home townhome community, while SouthBMore.com more recently reported that 28 Walker is planning 122 townhomes following the demolition of the Cheer Building, along with a new park space at the intersection of Beason, Decatur and Haubert streets. SouthBMore.com noted the Cheer Building is separate from Under Armour's former waterfront Tide Point complex across the street, and that the Cristo Rey project's collapse is what sent 28 Walker back to its original townhome plan. The outlet reported the company hopes to begin demolition late this year, with infrastructure and lot work starting in early 2027.
Neighbors Wait on an Answer
For residents nearby, the uncertainty is personal. Helen Chiamulera, who often walks her dog at Tide Point and commutes via the water taxi, told the Banner she would like to see something done with the area. Her sentiment echoes a broader pattern of change already underway in Locust Point, where Sapperstein has built a track record of transforming industrial sites — including McHenry Row, a former industrial property turned mixed-use community anchored by a Harris Teeter, and Locke Landing, another development by 28 Walker.
For now, though, Tide Point itself remains in limbo. With no buyer under contract and Under Armour still holding the deed, the 12-acre — or by another account, 14.6-acre — waterfront complex joins a short list of high-profile Baltimore properties whose next chapter is anyone's guess.
