The Ernst Valery Investment Corp. has agreed to purchase the historic property at 906 Washington Boulevard from the city for $100,000.
The developer has entered into an a 90-day exclusive negotiating privilege and right of entry agreement with the Baltimore Development Corp. The BDC plans to redevelop the properties on the site into eight market-rate residential units with a Milk & Honey Market and Café in the 1,850-square-foot retail space on the ground floor. The project is called Bath House Square and is expected to cost $2.5 million.
“This is an important redevelopment project for the Pigtown Main Street corridor that will not only bring new jobs to the area, but new residents and investment as well,” William H. Cole, president and CEO of BDC said in a news release. “Ernst Valery is an experienced developer with a proven track record with mixed-use ventures. We look forward to a successful project that enhances and helps to anchor the Washington Village/Pigtown community.”