One of Baltimore's tallest buildings will break ground next year, according to InterPark Holdings SVP Charles Murphy. The Chicago company owns the site of the proposed 48-story tower at 300 E Pratt St, currently a surface parking lot. Developer Comstock Partners of Reston, VA, is in the process of securing financing for the mixed-use tower, Charles says.

Baltimore’s Urban Design and Architecture Review Panel last month signed off on the project, expected to dramatically alter the city’s skyline with its scale and prominent waterfront location. The preliminary plan calls for a 200-room hotel, 400 residential units, 10k SF of retail and a 550-space garage. Most of the residences will be available for rent, though the building may also include condos, Charles says.

The apartments will be a mix of one-, two- and three-bedroom units and will have their own lobby, separate from the hotel. Charles will discuss the project at the Saul Ewing LLP real estate conference Nov. 5 in Baltimore.