Company Announcements

CHICAGO, Aug. 16, 2023 (GLOBE NEWSWIRE) -- SP+^® Corporation (SP+), (Nasdaq: SP) a best-in-class technology and operations management provider of mobility services for aviation, commercial, hospitality, and institutional clients throughout North America and Europe, today announced a five-year contract for its suite of Sphere^® technology at Baltimore Peninsula, in Baltimore, Maryland.

Baltimore Peninsula is a 235-acre redevelopment project led by MAG Partners, located on Baltimore City’s prime waterfront, featuring investments from Sagamore Ventures and the Urban Investment Group within Goldman Sachs Asset Management. It is a vibrant mixed-income residential neighborhood and thriving business district, supported by waterfront events and activities, new restaurants and social destinations.     

SP+ was selected to design an ambitious and tech-forward parking plan for this project, which currently includes a nearly 1,200-space garage equipped with SP+ proprietary Sphere Commerce™ On Demand Platform and license plate recognition (LPR) technology for enforcement. Earlier this month, SP+ initiated paid parking and enforcement for nearly 100 street spaces and is planning to add 750 parking spaces over three surface lots later this fall.

“The Sphere products and services provided by SP+ are truly advanced technologies,” said Rob Boidock, Senior Vice President of Operations at MAG Partners. “As Baltimore Peninsula sees more and more traffic on a daily basis, we’re excited to offer our monthly parkers and daily visitors an extremely efficient and seamless parking experience.”

This year, Baltimore Peninsula opened over 1.1 million square feet of new office, retail, and mixed-income residential. Highlights include the recent unveiling of an over four-acre outdoor sports venue in partnership with Volo Sports, the opening of ROOST Apartment Hotel, the announcement of Clyde’s Restaurant Group’s takeover of Rye Street Tavern and welcoming its first residents in April to Rye House and 250 Mission.

“The Baltimore Peninsula campus is fully enabled by SP+’s Sphere Suite of products,” said Scott Sacks, Vice President, Commercial Technology Strategy, SP+ Corporation. “This creates a unique and innovative environment that aims to provide superior value and services to clients and visitors for the long-term. This partnership is expected to solidify SP+ as a market leader in technology and management services; positioning the project as a flagship site for our Sphere technology.”

About SP+

SP+ (www.spplus.com) develops and integrates industry-leading technology with best-in-class operations management and support to deliver mobility solutions that enable the efficient and time-sensitive movement of people, vehicles, and personal travel belongings. With over 20,000 team members located throughout North America and Europe, SP+ is committed to providing solutions that make every moment matter for a world on the go.

About Baltimore Peninsula

Baltimore Peninsula is a 235-acre redevelopment project located on Baltimore City’s prime waterfront, featuring investments from Sagamore Ventures and the Urban Investment Group within Goldman Sachs Asset Management. As one of the largest urban revitalization efforts in the United States, Baltimore Peninsula will have a fundamental and far-reaching impact on Baltimore’s future. At completion, this transformative project will include: up to 14 million square feet of new, mixed-use development; 2.5 miles of restored waterfront; and 40 acres of parks and green space. The Baltimore Peninsula redevelopment is expected to generate fresh opportunities for innovation and entrepreneurship for Baltimore City residents and its local workforce.

CONTACT:

William Rongey
SP+
Director of Corporate Communications
312-274-2102

Baltimore Peninsula
baltimorepeninsula@berlinrosen.com