News
McHenry Go
March 10, 2011
| Can you believe Locust Point?s McHenry Row will finished inSeptember, with most site work completed four months after restarting construction? It seems like just yesterday that McHenry himself was signing the Constitution. |
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| Yesterday, we snapped developer Mark Sapperstein (right) at the site with Street Sense?s Jared Meier. Mark tells us construction on the $120M project resumed in November, when he was able to secure$49.1M in HUD 221(d)(4) financing for the Row?s multifamily portion, a$42M construction loan from M&T Bank for office and retail, and$20M in permanent financing for the parking garage from a city bond issue. (Those of you who scrape together lunch money from what you find in the couch and payphones might have a future!) The project includes a two-level, 60k SF Harris Teeter (Baltimore City's first), 47k SF of street-level retail (currently 70% leased), 250 apartments (they've already received 270 applications), and a 82k SF office building (which will be fully occupied this June). |
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| Here?s the Row?s main road, where Jared tells us they're shooting for a diverse retail tenant mix. He's keeping the 12k SF retail space on the ground floor of the office vacant until the right tenant comes along. |
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| Apartments will be leased in phases, Mark says, starting with the west building. He expects it to be full by spring 2012 and gets a kickfrom seeing applications flood his inbox—he's rigged managerBozzuto?s system to copy him every time one is submitted. |
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| How about that tower? |
