Baltimore Business Journal: Bozzuto Building 270 Apartments Atop 'Best Site' on Baltimore's Waterfront
October 22, 2010
Greenbelt developer Bozzuto Group is planning to build a 270-unit waterfront apartment building across from the Red Star Bar & Grill in Fells Point, with construction slated to begin as early as fall 2011.
The project, still in its design phase, is expected to cost between $50 million and $60 million.
“We think it’s the best site in Baltimore left to develop, certainly the best in Fells Point,” said Toby S. Bozzuto, president of Bozzuto Group subsidiary Bozzuto Development Co.
Bozzuto hopes to build the project on part of the planned Union Wharf, a mixed-use development including condominiums, apartments, office and retail space. Union Box Co. owns the property, in the 900 block of South Wolfe Street, and has entered into a contract to sell 3.7 acres of the land to Bozzuto. Terms of the deal were not disclosed.
Union Box developed a portion of the property at Wolfe and Thames streets into an office building but never moved ahead with the apartments. Union Box owner Larry Silverstein said he had always considered bringing on a residential developer to handle that part of the project.
Bozzuto is hoping to build on the success of its other residential projects in the city, including Spinnaker Bay in Harbor East and the newly opened Fitzgerald near the University of Baltimore, Bozzuto said.
The developer plans to construct a five-story building overlooking the Inner Harbor, with units averaging about 850 square feet. Bozzuto declined to disclose rental rates.
The company has retained Hord Coplan Macht and Ziger/Snead Architects, both of Baltimore, to help design the building, which is also slated to include a 500-car parking garage.
The developer has begun meeting with city officials about the project and will soon reach out to community groups in the neighborhood for their feedback.