How Baltimore Built a Billion-Dollar Ghost Town

In 2016, Baltimore approved $660 million in public financing for a new city within the city — 14 million square feet of towers, offices and homes on an empty industrial peninsula, anchored by the headquarters of Under Armour. A decade later, about a tenth of it exists. The apartments are full, but the streets are quiet, the founder has walked away, and most of the land now belongs to a bank in Arkansas. This is how Baltimore Peninsula went from "American Dubai" to one of the most-discussed developments in the country — and why the problem was never really the buildings.