Aventon Companies announced it has begun construction on a five-story, 250-unit apartment community in Annapolis.
Peak Management LLC announced it acquired Ruxton Towers Apartments, a multifamily community of 144 high-rise apartment units in Towson, for $35.6 million.
The cost of renting a high-end apartment in the Baltimore metro area is steep, according to a recent study, but still remains affordable compared to nearby markets such as Washington, D.C. and Philadelphia.
The Baltimore metro-area Class A apartment market has cooled off, according to a report measuring the sector’s performance in the first quarter of 2017. Delta Associates, a commercial real estate research firm associated with Transwestern Co., found rents are down and vacancies are up, with variations across area submarkets. “It’s slowed down a little bit, […]
A proposed apartment tower on the former Della Notte restaurant site in Baltimore’s Harbor East neighborhood increased in height, and is now a 23-story project plus a roof deck and expected to cost $130 million. The Urban Design and Architecture Review Panel on Thursday approved the new schematics for the building, which now will stand […]
Despite a robust national economy, there’s concern among developers that Baltimore is not experiencing enough job growth to support all of the multifamily development in the pipeline. Concerns about a multifamily bubble in Baltimore have lingered as a development boom sparked by tax credits and millennials’ supposed preference for urban living resulted in an abundance […]
Anirban Basu, economist and CEO of Sage Policy Group, spoke with The Daily Record Monday about jobs in Baltimore not being sufficient to support multifamily developments in the pipeline. Here are a few interesting observations that didn’t make it into the article. The size of the problem: “The number of jobs (is) relative to the […]
The developer of a 44-story mixed-use luxury apartment tower in Baltimore said the project wouldn’t be possible without a tax credit the city passed in 2014. Steve Gorn, president and CEO of Questar Properties, during a groundbreaking event for the 414 Light St. project, praised the 10-year tax credit for market-rate units for making the […]
The design of an apartment building slated to replace the famed Haussner’s restaurant site received little love from Baltimore’s architecture review panel. The mixed-use project, which is expected to cost more than $10 million, was criticized by members of the Urban Design & Architecture Review Panel because panelist felt is lacked warmth or connectivity with […]
Enterprise Homes announced it has purchased the market-rate Spyglass at Cedar Cove apartments in Lexington Park. The 152-unit development was built in 1985 and provides private Chesapeake Bay beach access. Enterprise Homes intends to complete renovations to the new roof, windows and flooring. “We are looking forward to completing a renovation of the apartments and […]
Time Group Real Estate Investment’s proposed $30 million apartment building in Mount Vernon is on course to break ground this spring. Baltimore’s Urban Design and Architecture Review Panel gave its final approval for the building with a vanishing edge swimming pool above a 3,500-square-foot commercial space on Thursday. The project will consist of 153 units […]