Overview

  • Offering Price $2,500,000
  • Lot Size 25,855 GSF
  • Parcels/Properties 8
  • Building Size 93,224 GSF
  • Zoning C-5HS

Located in Downtown Baltimore, the Howard Station Redevelopment Project is comprised of existing historic commercial mixed-use properties contiguously fronting North Howard Street and Tyson Street with C-5HS zoning (313, 315, 317-319, 321, 323, 325, and 327 N. Howard Street and 314 Tyson Street).

When ownership acquired the properties, they worked with a consultant who took the properties through a historic approval process (UDAAP) and drove the design of a high-density mixed-use project. The project featured 227 apartment units (152,204 square feet), 8 retail units (15,724 square feet), 5 office units (30,574 square feet), and a structured parking garage with 572 spaces (200,000 square feet). If a new developer is interested in pursuing that project, that consultant is open to partnering or consulting on the project. Otherwise, a new owner could gut-renovate the existing structures and continue to rent them out as commercial space with apartments above.

Downtown Baltimore is experiencing a renaissance with countless new construction and adaptive reuse projects completed and several underway. The Properties sit along Howard Street, surrounded by a handful of adaptive reuses and new construction projects completed over the last decade. The Site is steps from bus and light rail access and minutes from the Inner Harbor. Further, the Properties are near the University of Maryland Baltimore, the University of Maryland Medical Center, and the Baltimore VA Medical Center which will attract an “Eds & Meds” tenant base. The recently renovated Lexington Market is blocks from the Property as well.

Over the past five years, the City of Baltimore and the Downtown area have grown by population and number of households. On average, YOY in the next five years, there are projected to be 8,335 households of renters and buyers of new multi-family and single-family attached residential units in the Downtown Area each, an increase of 350 households per year (a growth of 4.4 percent per year). An analysis of market-rate housing by the Downtown Partnership of Baltimore suggests the area will support up to 1,120 new market-rate housing units per year for the next two to three years, and up to 1,319 units over the next three to five years. Recent data shows that the Downtown Baltimore apartment market is experiencing a surge in demand, driven by a growing number of millennials and young professionals who prefer the convenience and amenities of urban living. Baltimore has also been recently named a federal tech hub by the Economic Development Administration (EDA).

Given the resurgence in Downtown Baltimore, the Howard Street Redevelopment Project presents an outstanding portfolio opportunity to acquire generational real estate.



Maryland Broker: Richard S. Oller (5000603); 215.454.2852; richard.oller@grea.com 

Key Facts

  • — Redevelopment Opportunity: 8 Contiguous Parcels Totaling 25,855± SF; Frontage on North Howard & Tyson Streets
  • — Historic Properties: Potential for Historic Designation and Tax Credits
  • — Transit Oriented Location: Walking Distance to Multiple Bus and Rail Routes and Interstate 83 and Interstate 95
  • — “Eds & Meds” Tenant Base: Proximity to the University of Maryland Baltimore, the University of Maryland Medical Center and VA Hospital
  • — Desirable Downtown Location: Surrounded by Adaptive Reuse and New Construction Projects Completed over the Last Decade