Real Estate Overview: South Baltimore to Gain 598 New Housing Units
Population growth is seen as a key to improving Baltimore, lowering property taxes, and improving city services. However, in an area like the South Peninsula, where occupancy rates are near 100%, new construction is needed for significant population growth. From 2000 to 2010, the area saw a population growth of 1,116 residents going from 18,145 to 19,261.
Since 2010, the area has seen the completion of major residential projects including 250 apartments at McHenry Row, 197 apartments at 1901 South Charles, and 93 apartments at 1111 Light Street. All of these have stayed near capacity thus adding 540 housing units to the peninsula. There has also been approximately 91 new- construction townhomes.
From our calculation, the South Peninsula, not including home rehabs, has 598 housing units either under construction or expected to begin in 2014. Let’s take a look at those projects.
Apartments:
2 East Wells
Number of Units-153
Status- Under construction
Expected Completion- Late 2014
1201 South Charles
Number of Units- 16
Status- Preliminary construction has begun
Expected Completion- 2015
Raffel Apartments
Number of Units- 59
Status- Preliminary construction has begun
Expected Completion- 2015
900 East Fort Ave.
Number of Units- 275
Status- Construction expected to start in Late Summer 2014
Expected Completion- 2015
New-Construction Townhomes:
Key’s Overlook
Number of Homes- 53
Status- Under construction
Expected Completion- First deliveries in mid-2014
40 East Randall
Number of Homes- 5
Status- Under construction
Expected Completion- 2014
64 E. Heath St.
Number of Homes- 1
Status- Under construction
Expected Completion- 2014
Note: This is new construction of one housing unit; not a home rehab.
1417 Webster St.
Number of Homes- 1
Status- Under Construction
Expected Completion- 2014
Note: This is new construction of one housing unit; not a home rehab.
Fort Ave. and Race St.
Number of Homes- 13
Status- Preliminary construction has begun
Expected Completion- 2014
McCully-Polyniak Funeral Home at 130 E. Fort Ave.
Number of Homes- 5
Status- Construction expected to begin in early 2014
Expected Completion- 2014
Fort Ave. and S. Charles St.
Number of Homes- 6 (3 renovations of former church properties, 3 new construction)
Status- Construction expected to begin in Spring 2014
Expected Completion- TBD
1700 Block of Marshall St.
Number of Homes- 3
Status- Planning underway
Expected Completion- TBD
Ropewalk Lane and Clarkson St.
Number of Homes- 11
Status- Planning underway
Expected Completion- TBD
About the Author: Kevin Lynch
Founder and Publisher of SouthBmore.com, longtime resident of South Baltimore, and a graduate of Towson University. Diehard Ravens and O's fan, father of three, amateur pizza chef, skateboarder, and "bar food" foodie. Email me at Kevin@InceptMM.com and follow me on Twitter at @SoBoKevin.
