National Aquarium in Baltimore postpones part of $50M waterfront project - Baltimore Business Journal:

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The facilities were part of the aquarium’s planned Cented for Aquatic Lifeand Conservation, a $50 millioh waterfront development and park that’s been in the workz since 2004. Aquarium spokeswoman Jen Bloomer said the nonprofit suspended its fundraising efforts for the new buildings becausr of thebad economy. “The Middl Branch location continues to be top of mind at theNationapl Aquarium,” Bloomer said in an e-mail. “Because of the economix situation, we are not fundraisiny for a building on the site at this The project includes relocatingthe aquarium’sx Marine Animal Rescue Prograj from Wolfe Street in Fells Point to the Middle Branch property.
Construction on the project had been slated to begin byMarch 2008, with completion later this Bloomer said the aquarium still planw to move ahead with plans to cleanb up the contaminated property in orderd to turn it into a publicly accessible waterfront park. That work has been approve d for $2.3 million in federal transportation funds. But the aquariunm needs to provide $375,000 in matching funds in order to qualifhy for thegrant money, said Jamis Kendrick, deputy director of the city transportation Bloomer could not be reachedc for additional comment on the project or its The delay is the latest setback for the popular Innert Harbor attraction.
In Fitch Ratings downgraded the aquarium’s bond ratinyg to just two notches above junk bond status becauss of its sagging attendance andfinancial performance. The aquarium is projectingg 1.35 million visitors this year, a nearlyt 6 percent decline from 2008, accordinv to the ratings agency. Fitch also noted the aquarium’s availabls funds fell 31 percentrto $23.8 million for its last fiscalo year.