Baltimore Business Journal: Baltimore Officials Call on Developers to Follow Bozzuto's Lead as Locust Point Apartment Project Begins
June 03, 2015
Developers and city leaders looked forward Wednesday during a ceremonial groundbreaking for the Bozzuto Group's next luxury apartment project in Locust Point.
Construction on the $100 million, nine-story Anthem House began in May, but the ceremony was delayed by the recent riots. The building is expected to open in spring 2017 and feature a 6,600-square-foot fitness center, one-acre rooftop park, infinity pool overlooking the Inner Harbor, a restaurant and 20,000 square feet of retail.
Bozzuto Development Co. Vice President Jeff Kayce said the rent will be comparable to Bozzuto’s Union Wharf apartments, which rents units at $2.80 per square foot, or roughly $2,350 a unit. Bozzuto has hired Streetsense Retail to fill the retail space, Kayce said.
Anthem House is a collaboration between Bozzuto, Solstice Partners LLC and War Horse LLC, led by former Under Armour executive Scott Plank. It will sit on the former General Electric manufacturing site at 900 E. Fort Ave. near the Under Armour campus.
“We are here, blocks away from a place — Fort McHenry — that speaks to the resiliency of our city, and speaks to the fight that we have,” said Mayor Stephanie Rawlings-Blake at the groundbreaking.
Bozzuto and city officials discussed Anthem House in the context of recent Baltimore unrest.
“This is not your typical groundbreaking,” said Bozzuto Group CEO Tom Bozzuto. “This is an unusual time in Baltimore. It is an unusual time because we’ve all been reminded by recent events of the unsolved problems in our city.”
Bozzuto said while these problems are not unique to Baltimore, some have responded by withdrawing investments from the city.
“But this is not a time to turn our back on this great city,” he said. “Baltimore — a city by the bay — is nationally recognized by the investment community as a place that is growing, that is vital and that is healthy.”
At the groundbreaking, Anthem House was positioned as a beacon for investment in a city that needs it. William H. Cole IV, president of the Baltimore Development Corp., issued a call to other developers eyeing projects in the city: "Follow the lead and build it now."