News
SEAWALL'S NEXT STEPS
March 29, 2012
| Seawall Development's adaptive reuse apartment and office projects have done such a good job of introducing new teachers to Baltimore that many want to stay and become homeowners. In fact, Seawall is redeveloping 15 city houses with them in mind. And it's taking its model to other cities. (Just like momma always said: If it ain't broke, take it national.) |
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| When two generations of Baltimore CRE heavyweights sold a portion of the family biz in 2000, Donald Manekin left real estate to pursue an interest in urban and rural education needs. He says the 25 years he spent at the family firm are irreplaceable, but the next six years as an education consultant (including as interim COO for Baltimore City Public Schools) let him "do" rather than read, talk, and meet. Also in 2000, his son Thibault graduated from Lehigh and traveled the world helping found PeacePlayers International (look it up—it'll give you basketball warm fuzzies). Eventually, Thibault wanted to set down roots and asked his dad to help him start a business in Baltimore. Donald suggested they go in together. Now they head Seawall along with Evan Morville, Jon Constable, Matt Pinto, Alex Solomon, and Kirstin Shakelford, redeveloping unloved buildings into workforce housing for Teach for America teachers and office space for educational nonprofits. The first one,Miller's Court (above) at 26th and Howard in Charles Village, opened in '09. |
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| The former H.F. Miller and Son Tin Box and Can Manufacturing Plant had been vacant for 16 years by '07 when Seawall bought the note from a bank about to foreclose. The previous owner couldn't make his apartment development plan work, but Seawall had extra tools. The firm finesses historical and New Markets tax credits and other sources of community development money. Two years later, Miller's Court opened with 40 apartments housing 75 teachers and 30k SF of office for 11 education nonprofits, which benefit from working side by side. |
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| The common areas double to host office meetings by day and after-work relaxing for residents by night (not to mention Friday keg parties and cookouts put on by Seawall). The pair of tenant types also share a fitness center and a business center (much like luxury condo owners and hotel guests). Donald says Seawall talked with teachers for six months about their needs before building. The business center, for example, came about because teachers so often run to Kinko's at night to copy lesson plans. Now they can do it in their bathrobes, Donald says. |
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| He tells us the nonprofits pay as they go for space at Miller's Court and Seawall's second project, Union Mill (rendered above), rather than sign long-term leases. Built in 1866 and now located at Union and Buena Vista avenues in Hampden, the renovation delivered in August with 56 apartment units and 25k SF of office. Donald tells us 180 new Teach for America teachers are hired in Baltimore each year, and most are new to the city. Considering Mayor Stephanie Rawlings-Blake's goal to bring 10,000 new residents to Baltimore City, Donald wants to roll out the red carpet, introducing Seawall residents to the city and showing them they can lead a quality life within city limits. |
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| Here's Union Mill around 1970. Donald says there's a waiting list for apartment space, and six of the residents in Seawall's projects like the neighborhoods enough that they've asked about for-sale housing. And so the firm bought six properties and was granted nine more in Remington from the city to redevelop. And Teach for America (Donald used to sit on the board) has asked the company to replicate the model elsewhere. It's working with local firm D3 Development in Philly, and the partnership hopes to deliver one of Seawall's now-signature projects in 2014. DC is another possibility. Seawall has come close but not been able to close on a property in New Orleans yet, though Donald thinks it's a great fit because of the city's "great capacity to reinvent itself." |
