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Bel Air staff propose modest rent and deposit increases for Armory marketplace incubator
Summary
Town staff proposed raising first‑year Armory marketplace rates from $8 to $10 per sq ft and standardizing security deposits (raising one deposit from $250 to $500) to reflect operating costs while keeping rates below local market averages.
Town staff told commissioners on March 31 that the Armory marketplace incubator lease rates will be updated to reflect market and operational costs while remaining below average market rents.
Angela Robertson, who presented the fee review, said the first‑year lease rate being proposed is $10 per square foot (up from $8), with incremental increases each anniversary year (roughly an extra $100 per month at unit scale). Robertson said the…
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