News
RED HOT MULTIFAMILY LEASING
November 1, 2012
| Federal Hill darling 1111 Light St has exceeded apartment leasing expectations—and that's at a time of year when leasing tends to slow (it's a lot harder to bribe your friends with pizza and beer to help you move when it's cold and football is on). |
 |
| This morning, Caves Valley Partners development head Arsh Mirmiran (with Commercial Settlement Services' Terry Anne Hearn) tells us the apartment component, which opened in July, just bested 50% leased after three strong weeks. M&T Bank and 7-Eleven opened in the retail spots in the spring, and the office space is 100% leased to tech firms RedOwl Analytics, Betamore, and BCS software. That last one moves in tomorrow. |
 |
| Arsh says 1111 Light (a winner of ULI's Wavemakers Award) is a good size, new construction, urban infill project that nonetheless melds into the historic neighborhood (it's a full city block surrounded by rowhouses). The assimilation is aided by four-story street frontage. At eight stories, the rest of the project is noticeable from far away, but it fits in as you walk the streets of Federal Hill, Arsh says. Proper due goes to the architect, Marks Thomas' Tom Liebel(left, snapped with Venable's Ted Millspaugh and Ballard Spahr's Jon Laria). |
 |
| 1111 Light (above) was one of six winners at the big ULI event last week at Pazo (Sandy sends her apologies for delaying coverage). Other honorees: Forest City and Educational Realty Trust for 929 N Wolfe St, H&S Properties Development Corp's Four Seasons, Enterprise Homes' Harper House, Mark Sapperstein's McHenry Row, and Seawall Development's Union Mill. |
 |
| Bozzuto Construction's Kelly Cantley (with Stewart Title's Morgan Gilligan, who co-chaired the event with Terry Anne) won the leadership award. |
