News
BOZZUTO BREAKS GROUND IN FELLS POINT
December 15, 2011
| The multifamily developer has bested itself—by $4M and six units. On Tuesday, Bozzuto broke ground on its $72M, 281-unit Union Wharf in Fells Point, on the heels of its $68M, 275-unit Fitzgerald apartments in Mount Vernon. Both are brownfield redevelopments. |
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| At the groundbreaking, after Bozzuto Group CEO Tom Bozzutomoved the "Reserved" placard from Mayor Stephanie Rawlings-Blake's seat, we asked when was the last time she sat down in a seat that wasn't reserved. "Only at home," she said. Take a note, Kent. Tom says The Fitzgerald is now fully occupied, and Union Wharf will bring the city 400 people closer to the mayor's goal of 10,000 new residents in 10 years. |
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| We also snapped Bozzuto Development prez Toby Bozzuto with dad Tom. Toby says the cobblestones along Wolfe Street and elsewhere in Fells Point were originally ship ballasts that were repurposed to give the horses around the wharf something to walk on. And becausewhite-noise machines hadn't been invented back then, hay was thrown over the streets in front of houses where people were sick or dying to provide peace and quiet from the horse and pony show. |
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| Toby also says tavern owners would paint red stars on the cobblestones to point sailors in need of "entertainment" in the right direction. |
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| The seven-story, LEED Gold-targeted Union Wharf, designed by Hord Coplan Macht, will have a resort-style lobby, a 150-foot infinity pool (that's the largest in any Baltimore apartment community, Toby tells us), a lounge, bar room, billiards room, theater, fitness center, cyber cafe, and conference room, plus parks and 500 parking spaces. It's slated for delivery in fall 2013. |
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| The finance guys: Cigna Investment Management's Nick Bone, PNC Real Estate's Jim Spedden, and Cigna's John Clark (down from Connecticut). Cigna and Pritzker Realty contributed equity, and PNC provided a construction loan. |
