The Baltimore Peninsula development team, led by MAG Partners and MacFarlane Partners, with investments from Under Armour founder Kevin Plank and his Sagamore Ventures investment firm, and Goldman Sachs Asset Management Urban Investment Group, announced that renowned Slutty Vegan founder, entrepreneur, community activist and Baltimore-native Pinky Cole has joined the project as a development partner in Rye Street Market and will be making her homecoming debut at Baltimore Peninsula.
Cole has a shared vision with business visionary and philanthropist Kevin Plank to make Baltimore Peninsula an important destination for Baltimore residents and visitors. Slutty Vegan, which is valued at $100 million, is expanding nationwide. Cole will bring her hugely popular Slutty Vegan and Bar Vegan concepts to Baltimore Peninsula in Q4 2024. Furthering the development team’s commitment to increasing local jobs in partnership with the Mayor’s Office of Employment Development, Slutty Vegan and Bar Vegan are expected to bring 100+ new jobs to Baltimore.
Slutty Vegan is a nationally acclaimed burger joint offering 100 percent vegan, crave-worthy, indulgent menus and joyful customer interactions that routinely draw lines of locals and famous fans alike. Bar Vegan is a full-service restaurant and bar committed to gastronomic excellence, ethical sourcing, and sustainability, offering patrons exceptional plant-based cuisine along with skillfully curated twists on classic cocktails.
“My story began here in Baltimore, the streets of East Baltimore to be exact. This is my homecoming and I could not be more excited to collaborate with Kevin Plank,” says Pinky Cole. “Kevin is a local entrepreneur whom I admire personally and professionally and by partnering with him on Baltimore Peninsula, I get to show the world how coming from humble beginnings can lead to million-dollar dreams turned into reality. This collaboration, brought to life by the incredible KD McNair from my management team, marks a new chapter in my journey as an entrepreneur. I am looking forward to finally establishing my brands of Slutty Vegan and Bar Vegan in the city that raised me.”
“Baltimore is my home, and Pinky shares my love for this city. For decades I have invested in this City’s future, first by locating Under Armour’s global headquarters here, then with Baltimore Peninsula and now we’re bringing globally recognized influencers and entrepreneurs to help us share our story,” adds Kevin Plank, Principal and CEO of Sagamore Ventures. “Pinky is an incredibly successful restaurateur and philanthropist, and it’s an honor to welcome her back to her hometown. Her innovative concepts have taken over the nation, and I can’t wait to see them thrive right here at the Baltimore Peninsula.”
“Pinky Cole choosing Baltimore Peninsula as the destination to make her debut in Baltimore is a testament to the deep-rooted community we have cultivated here,” says MaryAnne Gilmartin, Founder and CEO of MAG Partners. “With Pinky’s unique and wildly popular endeavors plus Clyde’s first Baltimore restaurant opening in the neighborhood next year, Baltimore Peninsula’s retail and restaurant offering will be second to none.”
“Baltimore Peninsula has transformed into a thriving, active waterfront community where people gather, live, work, eat and socialize,” says Victor Macfarlane, Executive Chairman of MacFarlane Partners. “As Pinky’s restaurants add to the neighborhood’s allure — and become one of Baltimore’s beloved dining destinations – they will add critical value to the area with the permanent job creation.”
Chenire Carter, Director of Community and Experiences and Ed Guiltinan, worked on behalf of ownership to make the deal possible.
This partnership is the latest development as Baltimore Peninsula is evolving from a construction site into a flourishing neighborhood, with 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, over 1.1 million square feet of new office, retail, and mixed-income residential opening this year, and in April, its first residents moved into Rye House and 250 Mission.
This announcement is part of the development team’s larger effort to realize Baltimore Peninsula as a vibrant mixed-income residential neighborhood and thriving business district, supported by waterfront events and activities, new restaurants and social destinations that bring opportunity and strengthen the spirit of Baltimore.
The development team remains committed to achieving its community investment goals, as outlined in the Community Benefits Agreement (CBA), which guarantees $135 million in community benefits directly to the six surrounding communities and at least 51% of newly hired employees will be Baltimore City residents. Last summer, the development team announced $2.5 million of macro grants, micro grants, and capacity-building funds alongside the SB7 Coalition which brought the project’s total amount of community investment toward MOU/CBA to $21 million.
