This Week's Baltimore Deal Sheet
Baltimore County Executive Johnny Olszewski has withdrawn a bill that would have allowed specific mixed-use developments to proceed without Baltimore County Council approval, The Baltimore Banner reports.
The bill’s demise delivers a blow to some county developers struggling to gain approval for mixed-use projects. Despite county and state agencies promoting denser development, that building style has faced stiff opposition, particularly in more suburban parts of the county.
According to the Banner, the county executive's office plans to pursue legislation with the county council’s president instead. That bill would allow county lawmakers to designate zones to encourage mixed-use development.
In recent years, county residents have regularly opposed mixed-use developments and routinely pressured county council members to oppose projects or risk alienating voters.
One prominent example is the ongoing battle over the proposed redevelopment of Lutherville Station. The site is an underutilized retail center next to a light rail station. Yet nearby residents, primarily upset about plans to build apartments as part of the redevelopment, have fiercely opposed redevelopment plans.
A spokesman recently told Bisnow that developer Mark Renbaum was monitoring Olszewski's bill and viewed the legislation as a potential alternative route to secure zoning changes if the Comprehensive Zoning Map Process doesn’t yield results.
LEASES
Kneads Bakeshop has signed a lease to open a bakery and coffee shop at The Village of Cross Keys, according to the project’s developer, Caves Valley Partners. The bakery plans to open its second location in 1,300 SF in a new jewel box building between Always Ice Cream Co. and Atlas Restaurant Group’s planned Asian concept at Cross Keys. The developer expects Kneads to open the Cross Keys location this fall.
DEVELOPMENT
Dataology Vice President Salil Choudhary plans to open a social club called the DeBug Club for tech executives and entrepreneurs at the historic property at 1301 N. Charles St. in Baltimore’s Mount Vernon neighborhood, the Baltimore Business Journal reports. Choudhary purchased the building, known as the Haliburton or Charles Royal Building, for $1.1M and plans to open the club in April.
SALES
An 18-unit portfolio of Mount Vernon multifamily properties at 1225 and 1015 N. Calvert St. has sold for an undisclosed price, according to Midfield Realty's Yaakov Kanevsky, who represented the seller along with Mendel Dalfin. According to property records, ABC Real Estate Partners sold 1225 N. Calvert to 1225 N Calvert LLC for $715K earlier this month. The state hasn’t updated property records for 1015 N. Calvert St. to reflect the most recent sale, but the property last sold for $1.9M in 2014.
PERSONNEL
MacKenzie Commercial Real Estate Services, the MacKenzie Cos.' full-service brokerage division, has promoted Tim Harrington to vice president. Harrington, a 14-year industry veteran, joined MacKenzie in 2020 and previously served as a senior real estate advisor.
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Armada Hoffler’s board of directors named Chief Operating Officer Shawn Tibbetts president and expects him to take on the CEO role when Louis Haddad retires in spring 2025. Virginia-based Armada Hoffler holds a $1B investment in Baltimore’s Harbor Point via a joint venture with Beatty Development Group.
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MacKenzie Commercial Real Estate Services has promoted Morgan Wimbrow to senior real estate advisor. Wimbrow joined the firm in 2019 and most recently worked as a real estate advisor. Before joining MacKenzie, Wimbrow worked as a finance assistant in former Gov. Larry Hogan's administration and as a development coordinator for the JDRF diabetes foundation's Capital Chapter.
