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The Real Estate Wonk
Baltimore's residential real estate and commercial development news
Ravens' Eugene Monroe looks to enter real estate

Ravens offensive tackle Eugene Monroe has more than four years left on his team contract, but he's already trying his hand at another game: real estate.

The 27-year-old player founded a development firm in February with a former college teammate. The business, 4th Down Partners, is one of a group of investors in the $250 million redevelopment planned between Federal Hill and M

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Chase Brexton names director for new LGBT health center in Mount Vernon

Chase Brexton Health Care has selected a former Catholic Charities administrator to lead its new LGBT Health Resources Center, set to open in the primary care provider's Mount Vernon headquarters this spring.

Nate Sweeney, 36, will serve as executive director of the new center in its mission to connect members of the lesbian, gay, bisexual and transgender community with medical and behavioral health services "with culturally competent providers, support and programming for seniors, transgender counseling and more," Brexton said Monday.

"Nate brings tremendous experience and accomplishments as a medical caregiver, administrator and innovator," said Brexton CEO Richard Larison in a statement. "His expertise serving elders, his work on a national HIV behavioral surveillance study in Baltimore and his commitment to the LGBT community make him ideal to direct the resource center."

Chase Brexton was started in Baltimore as a gay health clinic by a small group of volunteers in 1978, and...

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Home sales jump but distressed properties drag down Baltimore area prices

Sales of distressed properties in the Baltimore region continued to distort the area's real estate market in October, inflating overall sales but acting as a drag on home prices, according to the monthly report from the regional multiple listing service.

October sales were up 13 percent to 2,562 sales, the highest October total since 2006, according to the report by RealEstate Business Intelligence, a subsidiary of the Metropolitan Regional Information Systems multiple listing service. Yet the median sales price was essentially flat at $239,000.

Both the restrained prices and growing volume reflect a surge in sales of properties owned by banks or other financial institutions and government agencies. In the metro area, there were 434 such sales, a spike of 73.6 percent compared with last year.

Sharon McKenna, president of the Greater Baltimore Board of Realtors, said the report overall was "neutral" — neither good news nor bad — but she expressed concern that the picture of...

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Whole Foods planned for Towson Row

Whole Foods Market plans to locate its first Baltimore County store at the new Towson Row redevelopment opposite the library in downtown Towson, officials said Wednesday.

The grocer, which launched 13 new stores in the three months that ended Sept. 28, did not say when the 45,000-square-foot location would open. Developer Caves Valley Partners, a Towson-based firm, said it plans to start demolition work for the redevelopment next year.

“We are thrilled to bring this premier tenant to its first Baltimore County location and we are confident it will be a game changer for all of Towson,” CVP partner Arthur Adler said in a statement.

Whole Foods is the first tenant announced for the $350 million Towson Row, a 1 million-square-foot mixed use project located on five acres bounded by York Road, Towsontown Boulevard, and Washington and Chesapeake avenues.

Plans for the development, one of a number expected to increase the density in downtown Towson, also call for 350 apartments and condos, 300...

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Student apartments, retail, restaurants planned for Charles Village

Student apartments with retail, restaurants and parking could soon rise on a vacant lot in the heart of Charles Village, developers and Johns Hopkins University officials announced Wednesday.

The 1.1-acre lot is a block from campus, and Hopkins officials believe the development will strengthen ties between the university and the Charles Village neighborhood. Hopkins President Ronald Daniels has said that bolstering neighborhoods around the university is a key goal.

The developers — Virginia Beach-based Armada Hoffler Properties Inc. and the Beatty Development Group — have planned a 12-story building with 157 student apartments and 31,500 square feet of commercial space on the lot at the southwest corner of St. Paul and East 33rd streets. The building, which will be slightly taller than the adjacent Blackstone Apartments at Charles and East 33rd streets, will wrap around a parking structure with 162 spaces for apartment tenants and the public.

The project needs approval and...

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Designs unveiled for new Harbor East apartments

A towering, white, modular-looking apartment complex could be the newest addition to the Harbor East waterfront, filling a Central Avenue parking lot with nearly 350 residences and a block of shopping.

The roughly $100 million proposal by H&S Properties Development Corp. and The Bozzuto Group calls for 291 apartments, 49 condominiums and roughly 60,000 square feet of retail on the block bordered by Central Avenue and Aliceanna, Lancaster and Eden streets. The building also would contain an interior parking garage, a pool and other amenities.

The parking lot, the former home of Baltimore Contractors Inc., sits on the edge of ritzy Harbor East. Its development would push that high-density neighborhood toward Fells Point, plugging a gap between Ouzo Bay restaurant and the Eden apartment building.

Preliminary designs by Washington-based Hickok Cole Architects show a complex that would top out at about 280 feet, slightly shorter than the Legg Mason tower a few blocks west, said Bozzuto...

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