This Week's Baltimore Deal Sheet
The developers behind Baltimore Peninsula announced plans to include an 81-unit Roost Apartment Hotel as part of the massive waterfront project.
Development and design company Method Co. plans to build the Hord Coplan Macht-designed Roost Apartment Hotel at 2400 Terrapin Way. The project is expected to open this summer as part of MAG Partners and MacFarlane Partners' transformation of the 235-acre south Baltimore peninsula formerly known as Port Covington.
The property at 2400 Terrapin Way was designed specifically for long-term-stay residential use, according to a spokesman for the developers. When the Roost opens this summer it will be the third apartment building — following Rye House and 250 Mission — to open at Baltimore Peninsula.
“We are thrilled to have the opportunity to open our sixth ROOST location within the incredible city of Baltimore. MAG Partners and MacFarlane Partners are completely transforming the city’s waterfront experience with Baltimore Peninsula, making it an incredibly desirable destination for locals and visitors alike,” Method Co. CEO Randall Cook said in a release.
The company has three Roost locations open in its hometown of Philadelphia, plus locations in Cleveland and Tampa, and it plans to open in Detroit and Charleston, South Carolina.
The Roost Apartment Hotel concept, according to the development team, aims to bridge the experience of a boutique hotel with apartment living. The project will include furnished units ranging in size between one and three bedrooms. Aumen Asner Inc. and Method Studios, Method Co.'s in-house design studio, will collaborate on the units' interior design.
Each unit will include a full-size kitchen, balcony and full-wall windows. The apartments, lobby area and amenity space will feature furniture by designers including Fenning, Bubi and Interior Define. Amenities at the building include a 24-7 concierge, a fitness center with Peloton bikes, and 20K SF of indoor and outdoor amenity space, including an open-air pool.
Negotiations to bring the Roost concept to Baltimore Peninsula predate MAG Partners and MacFarlane Partners assuming lead developer duties last year. Talks about bringing the concept to Baltimore started under the previous lead, Weller Development Partners.
“When we brought ROOST to the table a few years ago, we were confident this would all happen in due time. There is real momentum around this new neighborhood — you are seeing office leases getting signed and now an apartment hotel with Roost," Marc Weller, founding partner of Weller Development Partners, said in a statement.
SALES
Baltimore Orioles owner Peter Angelos sold a shopping center in Timonium for $15.1M, according to the Baltimore Business Journal. The 30K SF strip mall at 1940 York Road sold to a subsidiary of Ohio-based REIT SITE Centers Corp. in January.
LEASES
Kennedy Krieger Institute inked a roughly 13K SF lease with St. John Properties for space at the Greenleigh Development, where it will open its third International Center for Spinal Cord Injury.
The institute will open in July at 425 Williams Court in Greenleigh, a 1,000-acre, mixed-use business community in the White Marsh section of Baltimore County. The center will employ up to 30 people and mirror Kennedy Krieger's spinal injury facility at the Maple Lawn development in Howard County.
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GameOn Bar + Arcade and The Angry Jerk are the two latest retailers to announce plans to open shop in The Howard Hughes Corp.'s Downtown Columbia redevelopment.
GameOn Bar + Arcade, an old-school arcade and bar concept, is slated to open in June in a 4K SF, indoor/outdoor, ground-level retail space in the Juniper building in the Merriweather District. The Angry Jerk, a Carribean-Southern Fusion restaurant, will open a 2K SF location in Downtown Columbia later this year.
THIS AND THAT
Privately held commercial real estate services firm KLNB has purchased Rockville-based brokerage firm Edge Commercial Real Estate, Bisnow reported Tuesday. The firms didn't disclose the financial details of the merger, but the move allows KLNB to add a multifamily division to its services and increases the number of employees at KLNB by 20%.
PERSONNEL
Baltimore-based real estate management and investment firm Continental Realty Corp. promoted Kristina O'Keefe to vice president of the commercial division and Blake Dickinson to anchor and development leasing vice president.
O'Keefe, who started at CRC in 2009, will now have an expanded role, including managing all leasing initiatives for the company's commercial properties, encompassing 7M SF in nine states. Dickinson, who joined CRC's commercial leasing team in 2008, now has direct responsibility for leasing anchor locations, pad sites and pad site sales.
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St. John Properties has promoted Gavin Mauzy to project manager, interior construction at the firm's Virginia and Central Maryland regional office. Mauzy joined the company in 2021 as an assistant project manager. He will now manage tenant build-outs for St. John Properties for the company's properties in the region.
