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Magic Johnson plans to invest in the city of Baltimore. This will add the charm city to a list of urban communities Johnson has invested in including Brooklyn and Harlem. The goal of this investment is to generate jobs and serve as an economic stimulus within the city.
Johnson plans to bring some of his franchises to Baltimore as a means of creating jobs. One such franchise may be a Magic Johnson movie theatre in Mondawmin Mall.
Johnson also met with Baltimore Mayor Catherine Pugh to discuss long-term investment opportunities. Improving tax breaks for investing in underserved neighborhoods and revitalizing the Perkins Home housing development are just some of the possible results of these meetings.
“We bring a retail and a housing option, which we call mix-use. That really jump-starts the redevelopment of urban corridors. And then others will come in, big boxes and others, will come in and invest in the city,” said Johnson in an interview with WBAL-TV. “…Baltimore, you’re the magic city. Here comes the magic man.”
