Neighborhood Watch

City-Owned Baltimore Lots Being Acquired for 50 Unit Affordable Apartments

A new 50 unit apartment building at 423 N. Howard Street on the west side of downtown Baltimore will cater to the city’s “working middle class.” The apartments and rental rates are targeted toward those who earn between 80% to 120% of the city’s median household income. This includes teachers, firefighters, police and a variety of other occupations.

Residents of the building will have access to 3,500 sq. ft. of first floor retail. The developer of the project, Baltimore based AZ Group, will be assembling several parcels for the project. Lots include 423 and 425 N. Howard Streets and 217 through 225 W. Franklin Street. The sites are all currently vacant, under-utilized parcels that generate no new revenue for the city. AZ Group will be acquiring the lots for around $79,000 once the deal is approved.

This project is located one block from Centre Street’s light rail stop and another planned apartment complex on 500 Park Avenue by The Time Group.

#FollowDevelopment on Twitter! Thanks to the BizJournals on the alert!


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