Boutique Apartments, Co-Working Space Coming To Mount Vernon
A Baltimore developer's plan to transform midtown Baltimore with boutique apartments and offices is taking shape.
Zahlco Development has two new apartment buildings and an office building renovation in the works, including an office lease with Canadian co-working company Northspace.
Zahlco will demolish 9 East Mount Royal in the next couple of weeks, Zahlco CEO Yonah Zahler said. Construction will begin this summer on a new, 65-unit, modern glass and terra cotta building and take 18 months to complete. Expect a mid-winter 2018 opening for the $11M project, Zahler said.
The city's Commission for Historic Preservation has provided preliminary approval with some minor tweaks. Standing out in an area that supplies an array of architectural styles — from historic, centuries-old buildings to contemporary structures at the University of Baltimore — was critical in the building's design.
Amenities include a rooftop deck, a gym and a boardroom that is available for rent. Zahler said he is talking to a couple of local coffee shops about taking up 1K SF on the ground floor.
While new multifamily units are popping up throughout the city, Zahler said he is confident that the location and sleek design will appeal to tenants.
"A new product in the middle of Mount Vernon doesn't happen very often," he said.
Calvert Street Lofts, a 50-unit apartment complex above Iggie's Pizza, will wrap up in a couple of months. Ten units have been leased in the $10M complex at 824 North Calvert St., where the rents for studios and one-bedroom apartments cost between $1,300 and $1,600 per month. The building also holds a handful of two-bedroom units, which cost up to $2,300 per month.
Renters will have access to parking, a gym and a mailroom while the units in the former garage will feature exposed brick and concrete. Zahlco will lease 3K SF on the first floor to a café or restaurant.
CHAP has provided preliminary approval of Zahlco's design for 11 East Mount Royal Ave., which the developer will begin its $500K renovation on this month after receiving permits. Zahler said he expects the building renovation to be wrapped up within the next 45 days.
Named one of the top 10 worldwide co-working spaces, Northspace is taking 8,500 SF in the 28K SF building. The shared workspace has room for 25 offices, a café, a lounge, a boardroom and workstations. Near Penn Station and the University of Baltimore, the co-working office should get plenty of foot traffic, Zahler said.
The building has another 6K SF left to lease on the top floor, sub-basement and lower levels.
Zahlco recently put the 111-year-old Congress Apartments up for sale after a $1M renovation that included upgrades to the units and common areas. Zahler said he is currently reviewing offers for the property, which once hosted Iggy Pop, R.E.M. and Talking Heads in the sub-basement bar at 306 West Franklin St.
