Caves Valley Partners Plans a 5.2 Acre Redevelopment Project on Hanover St. Near Port Covington

| June 21, 2017 | 2 Comments

Caves Valley Partners (CVP), a real estate firm with many projects in South Baltimore, announced that it recently completed the final acquisition of a 5.2-acre assemblage on the 1800 and 1900 blocks of S. Hanover St. in South Baltimore. The properties sit a block from Port Covington, which is undergoing a multi-billion redevelopment by Sagamore Development.

The combined properties currently house Middleton & Meads and a vacant warehouse, which CVP acquired last year. Middleton & Meads, a nearly century-old commercial truck repair company, will remain in operation and plans to relocate its business within Baltimore City in the next year, according to a press release.

Arsh Mirmiran of CVP told that a redevelopment plan is not yet set in stone, but it will include housing, which could be apartments, townhomes, or a combination of both; retail; and a new grocery store concept that is not currently available in Baltimore. There are no plans for office space at this time.

CVP was unsuccessful in its effort to lure a grocery store to its $275-million Stadium Square development in South Baltimore and Sharp-Leadenhall, but said the visibility the S. Hanover St. properties have from I-95, I-395, and S. Hanover St. made it a more appealing location for grocers. There is also already an existing traffic light at the corner of S. Hanover St. and Wells St., which Mirmiran said is ideal for retail.

Portions of the property are underneath an I-95 on ramp, and Mirmiran told this space will likely be used for parking.

“The completion of this assemblage is another example of CVP’s bullish outlook on the future of Baltimore City and our commitment to working with successful, locally-owned businesses to create positive outcomes for all sides,” said Mirmiran in a press release. “We are currently exploring a variety of development options for the site and regardless of final plans, we are confident the site has a bright future as a gateway to South Baltimore.”

Mirmiran told that he’s confident the development will be “really special.” He said, “This is a South Baltimore-oriented project. Anything Sagamore does is a bonus, but we would have proceeded either way.”

CVP is hoping to begin work on this project in about a year.

The board of directors of the South Baltimore Neighborhood Association (SBNA) said the following in the press release: “SBNA appreciates the efforts Caves Valley has made to communicate the plans and goals of their recent projects in the neighborhood. We look forward to hearing additional details of their plans for South Hanover Street and working with the developer on another project to improve South Baltimore.”

SBNA has been working on improving the gateway at Hanover and Wells St. adjacent to these properties. It supported the installation of traffic calming medians on the 1800 and 1700 blocks of S. Hanover St. and is working with the Neighborhood Design Center on a plan to add signage, light pole banners, and landscaping improvements along the gateway. The latter project will utilize Casino Impact Funds.

It is also working with the owner of 1845 S. Hanover St. on a mural for the side of Bumper Globe.

Along with Stadium Square, CVP’s current South Baltimore projects include the redevelopment of the Cross Street Market. It is also part of a team that is proposing a Topgolf location in Stadium Area. CVP additionally is a partner in Horseshoe Casino Baltimore.

Completed CVP projects in South Baltimore include 1111 Light Street and Riverside Wharf. The firm also has additional projects throughout the area.

Screenshot courtesy of Apple Maps

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