Dundalk and Sparrows Point are undergoing a major transformation driven by billions of dollars in port and industrial investment. Tradepoint Atlantic, the former Bethlehem Steel site, now supports more than 14,000 jobs. Anduril’s Arsenal-2 manufacturing facility and the Sparrows Point Container Terminal represent nearly $5 billion in additional planned investment, setting the stage for further employment growth.
Census data shows how much has already changed. Primary jobs in Sparrows Point quadrupled between 2018 and 2023. More of those workers live in Dundalk than in any other zip code, connecting its housing market to the nearby employment hub. With apartment construction remaining limited, continued investment could strengthen demand for Dundalk’s existing rental communities.
Tradepoint Atlantic Broadens Its Employment Base
The redevelopment of the former Bethlehem Steel property into Tradepoint Atlantic has become the primary catalyst for investment in Sparrows Point. The 3,300-acre waterfront campus combines deep-water port access, rail infrastructure, and proximity to I-95 and I-695, making it one of the region’s largest logistics and industrial development sites.
British luxury carmaker McLaren recently opened its first U.S. vehicle processing center at the site. The Port of Baltimore is one of the nation’s top-ranked automobile ports, and McLaren’s $11 million investment further solidifies Tradepoint as a major facilitator of Baltimore’s automotive shipping industry. The company joins two other major automotive groups operating out of Tradepoint, BMW of North America and Volkswagen Group of America.
Tradepoint Atlantic has attracted many other major national employers, including Amazon, FedEx, Home Depot, and Under Armour. Recent expansions by Samuel, Son & Co., RPM, Floor & Decor, and the University of Maryland Medical System have broadened that mix.
Source: U.S. Census Bureau, 2013-2023
Anduril, U.S. Navy Expand Advanced Manufacturing
Anduril Industries plans to invest $3.7 billion in Arsenal-2, a manufacturing facility at Tradepoint Atlantic that will produce components for attack submarines. The U.S. Navy also awarded the company a contract worth up to $2.9 billion tied to production outcomes.
The project is expected to create more than 3,100 permanent jobs and drive $2 billion in annual economic output, significantly expanding the area’s economic base beyond traditional logistics and distribution. Construction is slated to begin quickly, as soon as site approvals, permitting, and site preparation are complete. Anduril predicts operations at Arsenal-2 may begin as early as 2030.
Container Terminal Expands Port Capacity and Employment
The next major phase of Sparrows Point’s redevelopment is the $1.2 billion Sparrows Point Container Terminal. The 168-acre facility at Coke Point will include a new container terminal and on-dock rail infrastructure. The project is expected to increase the Port of Baltimore’s container capacity by approximately 70%.
Once operational, the terminal is projected to support more than 8,000 direct, indirect, and induced jobs, extending the economic impact beyond the waterfront into transportation, logistics, and supporting businesses.
Key Bridge Reconstruction Advances
The reconstruction of the Francis Scott Key Bridge remains a major infrastructure project for the Baltimore region. As of October 2026, crews continue installing permanent foundation piles and constructing the over-water work platform, while Maryland advances procurement for the bridge’s main span and roadway approaches.
The new bridge is expected to cost between $4.3 billion and $5.2 billion, with an anticipated reopening in late 2030. Once complete, the bridge will restore a critical link in the Baltimore Beltway, improving access for workers, freight, and businesses throughout southeastern Baltimore County. For Dundalk and Sparrows Point, restoring that connection will support the area’s expanding industrial and port operations.
Limited Apartment Supply Supports Dundalk’s Rent Growth
Dundalk is home to more Sparrows Point workers than any other zip code, linking its housing market to the nearby employment hub. Apartment construction has remained limited. According to CoStar, the submarket has added just over 200 market-rate units since 2013, with nothing currently under construction. Asking rents have risen 52% over that period, including 2.7% over the past year, while vacancy has declined. As new facilities open and major projects advance, continued job growth could reinforce demand for housing in Dundalk.
Source: CoStar, HSA Research | Index: 2013 = 100
Liberty Springs Presents a Value-Add Opportunity in Dundalk
Harbor Stone Advisors’ new offering, Liberty Springs Apartments, features 152 one-bedroom apartments in Dundalk. Nearby comparable properties achieve rents at least 18% higher than current rents, presenting potential for additional revenue growth.
Located near major employment centers, including Tradepoint Atlantic, and with convenient access to I-695, I-95, and I-895, Liberty Springs offers investors an opportunity to capitalize on Dundalk’s established residential market and continued economic investment in southeastern Baltimore County.
