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(The Daily Record/Maximilian Franz)

Four Seasons’ condo sales could begin in May

Construction on 62 luxury-condominiums at the Four Seasons Baltimore and Residences in Harbor East continues, and the project is anticipated to be complete in the first quarter of 2016 .

Jason Huss, development director at Harbor East Management Group, said there’s currently no cost figure for adding nine stories to the 22-story building. Although asking prices for the condos have yet to be established, he said the company anticipates starting sales in May.

“We are in the process of making a few tweaks. We haven’t launched our sales process yet. We’re still making a few final tweaks, a few final touches and we expect to have some sales, starting that process, probably early in mid-May,” Huss said.

The $200 million Four Seasons Baltimore Hotel opened in 2011. Plans for the project always involved a residential section, but plans to make the tower 44 stories high were eventually scaled back. But with the new extension the Four Seasons will surpass the 24-story Legg Mason building as the tallest in Harbor East.

Last spring, Baltimore’s Urban Design and Architecture Review Panel approved the design of the project that allowed for the developer to build as many as 83 condominiums as part of the expansion. At the time, Huss said market demand would dictate the amount of condos built at the site.

Baltimore’s condominium market has been notoriously fickle in the past, but an improving housing market has shown signs of that subcategory also performing better.

A 2014 year-end report by RealEstate Business Intelligence and the GMU Center for Regional Analysis on the Baltimore metro area’s housing market found that condo sales in December 2014 were up from 21.8 percent from the same time last year.

An earlier report by Delta Associates also showed that a lack of new units coming on the market had held down the market. A year ago there were roughly 5,200 multifamily units in the market that could have been developed as either apartments or condos.

About Adam Bednar

Adam Bednar covers real estate and development for The Daily Record.