CAMBRIDGE, Md. — A long-planned redevelopment of Cambridge’s waterfront reached a major milestone Monday with the signing of an agreement to bring a boutique hotel to the site.
Pinnacle Hospitality Group, an Eastern Shore-based developer with hotels in Ocean City and Rehoboth Beach, signed an agreement with the nonprofit Cambridge Waterfront Development Inc., known as CWDI, to take part in the project.
The company signed a Purchase and Sale Agreement.
CWDI was formed by the City of Cambridge, Dorchester County, and the state of Maryland to organize the planning and development of the Cambridge Waterfront.
The agreement between Pinnacle Hospitality Group and CWDI marks a shift from public investment to private development at the harbor.
It also calls for up to 120 rooms in the hotel, along with a rooftop restaurant and bar.
Tauhid Islam, CEO and President of Pinnacle Hospitality Group, said being part of the Eastern shore community allows him to understand how to add to the area.
“Our idea is actually not to change communities, but to actually beautify or make things better for the community by bringing jobs, by bringing something unique, by bringing more tourism, by enhancing things that are already here,” Islam said.
Islam also said the project could bring between 75 and 150 jobs to the area.
Angie Hengst, president of Cambridge Waterfront Development Inc., said she hopes the signing shows the community and other developers that work is being done to forward the project.
“Having a purchase and sale agreement of the first piece of property is kind of one of the most iconic pieces of property, really will set the tone,” Hengst said. “It’ll show developers that this is a place that’s worthwhile coming to and developing. It’ll show the community that we’re moving forward now with vertical development.”
Hengst also said the hotel design will have to be approved by the CWDI Design and Review board.
“We really want to make sure it fits in with the look and feel of Cambridge itself, kind of that maritime feel,” Hengst said. “And, you know, a place that is iconic. And so by having that be the first thing that's developed and the other developers can actually see what we're looking for instead of just conceptual diagrams.”
City of Cambridge Mayor Lajan Cephas-Bey said the hotel’s value goes beyond jobs.
“This would be great because one that’s additional jobs, right? The other component that makes it wonderful is that it’s going to attract other developers who are thinking of where’s the next location for me to have my next project, and they’re going to see what he is doing here in Cambridge, and that’s going to inspire other developers to come here,” said Cephas-Bey.”
Cephas-Bey also said a boutique hotel provides additional hotel tax revenue for the city of Cambridge, which she said would allow the city to provide better services for their residents.
Islam estimates groundbreaking on the hotel is between 12 and 18 months away.
