In the News...Caves Valley Partners reveals plans for South Baltimore apartments

By: Jenn Ladd

Caves Valley Partners plans to build a three- or four-story apartment complex with first-floor retail at the corner of Cross and Leadenhall streets in South Baltimore.

The plans for the proposed project were revealed during last week's Urban Design and Architectural Review Panel presentation for the neighboring Stadium Square project. I caught up with Caves Valley Partners' Arsh Mirmiran to get more details on the still little-known residential portion of the first block of $275 million Stadium Square development.

Caves Valley Partners hopes to break ground on the project in first quarter 2016, with a tentative completion date of mid-2017 — roughly concurrent with the first building for the Stadium Square project. Mirmiran said it is too early to know the cost of the proposed development at Cross and Leadenhall streets. The developer is still figuring out financing for the project.

"It's a small building to do but we're going to try to do it," Mirmiran said.

One of the big issues surrounding the apartment complex was whether it would spell the end for six historic townhomes in the Sharp-Leadenhall neighborhood. Mirmiran said Caves Valley intends to maintain the facade of the six homes.

The new complex will have either 21 or 28 units, depending on the final number of stories the building will have. Mirmiran said Caves Valley Partners — the master developer for the Stadium Square development— is starting talks with the Commission for Historical and Architectural Preservation to build the project. He added that the Sharp-Leadenhall community expressed a desire for new affordable housing in the area over office space, which the Stadium Square project will add in other phases.

Ground-level retail would only occupy one story but would have double-height ceilings, Mirmiran said. The retail is intended to form a unified connection from Cross Street Market to Solo Gibbs Park. New first-floor retail is planned for the corner of Cross and Race streets, and Caves Valley Partners wanted the Cross-Leadenhall project to complete the circuit to the park.

"To have that retail connectivity, it would be a shame if you couldn't take it all the way to the park," Mirmiran said. He added that the developer hopes the park will be upgraded in the future. He cited Patterson Park as a model for retail flowing into a public park, with some restaurants right near the park.

http://www.bizjournals.com/baltimore/blog/real-estate/2015/06/caves-valley-partners-reveals-plans-for-south.html