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

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The facilities were part of the aquarium’d planned Center for Aquatic Life and a $50 million waterfront development and park that’s been in the works since 2004. Aquariun spokeswoman Jen Bloomer said the nonprofigt suspended its fundraising efforts for the new building s because of thebad economy. “The Middler Branch location continues to be top of mind at theNationalk Aquarium,” Bloomer said in an e-mail. “Because of the economic situation, we are not fundraising for a building on the site at this The project includes relocatingthe aquarium’s Marine Animal Rescuew Program from Wolfe Streetr in Fells Point to the Middler Branch property.
Construction on the projecr had been slated to beginb byMarch 2008, with completionn later this year. Bloomer said the aquarium stilo plans to move ahead with plans to cleann up the contaminated property in ordeer to turn it into a publicly accessiblrwaterfront park. That work has been approved for $2.3 milliohn in federal transportation funds. But the aquariumk needs to provide $375,000 in matching fundws in order to qualify for the grant saidJamie Kendrick, deputy director of the city transportatiobn department. Bloomer could not be reached for additiona comment on the project or its The delay is the latest setback for the popular InneeHarbor attraction.
In February, Fitcn Ratings downgraded the aquarium’s bond rating to just two notchesw above junk bond status because of its sagging attendance andfinancialp performance. The aquarium is projecting 1.35 million visitors this a nearly 6 percent decline from according to theratings agency. Fitch also noterd the aquarium’s available funds fell 31 percentto $23.8 million for its last fiscal year.