New Housing and Business Projects in Maryland

According to theĀ Baltimore Sun, the city has two new construction projects that are currently being reviewed by city officials and contractors. The plan is to construct a 404-foot building that would serve as both a residential and commercial building in downtown Baltimore located at 1 Light Street. The base of the building would be a parking garage that’s contained within a stone structure, and the second layer would be about 340 apartments in the complex, and then about 10 stories of offices to top it off. It’s been speculated that M&T Bank is the party interested in obtaining extra office space, but spokespeople for M&T have not commented on it yet.

There are also plans for another residential and retail building that contractors and city development boards are looking to erect on President Street and Albemarle Street. This building would have about 240 apartments and 7,000 outlets for stores. Many members of the city panel are excited about the potential commerce that both of these buildings would bring to these areas of the city. The subplot has been the expiration of M&T Bank’s lease on their current office building and speculation about where they will be relocating to. So far, the city has indicated they will pledge $28 million in funds for the projects.

The area at 1 Light Street has been vacant for quite some time with its last building being the Southern Hotel, officially closed back in 2000. The Della Notte Restaurant, where the building plans for President Street are being discussed closed just three years ago. Much of the questions being raised about the current project are about the impact of traffic in the area and the exit points from the parking structures. Overall, the takeaways from city meetings have been positive about the potential for building construction in this section of Baltimore.