Historic Downtown Office Building to Convert to 220 Apartments
The historic Fidelity & Deposit Building at 210 N. Charles St. Downtown will be converted to 220 apartments. The eight-story building was recently purchased by 210 N. Charles Owner, LLC, a joint venture partnership formed by residential developer Trademark Properties and local investor Prab Thangarajah.
Brad Byrnes of Byrnes & Associates, Inc., a Baltimore-based boutique commercial real estate and investment company, represented the buyer in this sales transaction.
210 N. Charles Owner, LLC plans to begin the conversion next month. It will deliver a mix of studio and one- and two-bedroom designs ranging from 500 to 2000 sq. ft. The first floor will have a street-level restaurant featuring a corner vault room and an outdoor seating area that overlooks Center Plaza. The building will have will have two or three additional retail spaces.
210 N. Charles Owner, LLC has signed an agreement to provide parking for approximately 180 residents within the underground facility at 222 N. Charles St.
Built in 1894, the Fidelity & Deposit Building was designed in a Romanesque Revival style by architects Ephraim Francis Baldwin and Josias Pennington. The building was expended in the 1910s and again in 1968. It survived the Great Baltimore Fire in 1904 that decimated much of Downtown.
The former owner acquired 210 N. Charles St. in 1999 and it has remained vacant since the early 2000s.
“After standing vacant and unused for approximately 20 years, this iconic building will soon spring to life, increase the vibrancy of downtown with the influx of new residents and retailers and add to the tax base of Baltimore City,” said Byrnes in a press release. “This is yet another visible sign of the positive turnaround gathering momentum in Downtown Baltimore.”
“Numerous economic fundamentals are driving the interest among multifamily and commercial office buyers in Downtown Baltimore, led by a significantly lower cost of living as compared to East Coast cities, less congestion, access to Washington, D.C. and multiple beach resort cities,” added Byrnes. “Both businesses and individuals remain optimistic about the future as conditions improve and more entities make significant investments in the City. This includes the approaching opening of the new $44 million Lexington Market renovation, as well as the impending $155 million improvement to the Royal Farms Arena. Across the board, investors are gaining more clarity on the City’s future as office workers slowly migrate back to downtown to add energy to the streets and activity to the restaurants.”
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.
