The Baltimore Development Corporation (BDC) has agreed to an Exclusive Negotiating Privilege (ENP) with Philadelphia-based Carmel Realty Associates for the redevelopment of properties in the 100 block of West Lexington Street (101, 103, 114, 116-120 and 124 N. Liberty Street) on Downtown Baltimore's west side. Carmel Realty, a current owner of properties on West Lexington Street, was the only respondent to a BDC Request for Proposals (RFP) for these three development sites, comprised of five vacant properties.
With the acquisition of the properties, Carmel Realty plans a mixed-use development of ground floor retail space with apartments on above floors.
"Carmel Realty Associates -- and particularly its CEO Jerald Goldfine -- has long been committed to the city's vision for the Westside revitalization," says BDC President M.J. "Jay" Brodie. "We look forward to our continued partnership as the improvement of the Westside moves ahead."
The development sites are part of the Market Center Urban Renewal Area:an area bounded by Madison Street to the north; Cathedral and Liberty Street to the east; Pratt Street to the south; and Martin Luther King Jr. Boulevard to the west.
Source: Baltimore Development Corporation
Writer: Walaika Haskins