Turner Development has signed a $40 million deal with Landex Development, LLC to purchase land that will used for an aparment development at the Westport Waterfront.
Westport Waterfront is a $1.2 billion, 50-acre transit-oriented, mixed- use development located on Baltimore's Middle Branch of the Patapsco River. The 1.07 acre Parcel L is located on the newly created John Moale Boulevard at the southern end of the Westport Waterfront site just a block from the Light Rail station.
Landex plans to build a luxury apartment building as part of Westport Waterfront's first phase of development. Accordin to the architectural plans the building will be six stories with a glass fa�ade, LEED certified with 200 apartments featuring balconies and terraces with views of the waterfront and surrounding parks. The spacious, contemporary apartments will have a variety of suite layouts and will include secured underground parking with concierge services. Construction on this site is slated to begin by the 4th quarter of 2010.
"The Westport Waterfront offers very strong market potential", says Peter Siegel, CEO of Landex Development."Its proximity to rail and highway transportation as well as the availability of outdoor recreation activities such as biking, walking trails and kayaking at the front door make it a very desirable location for professionals looking to combine beautiful living space with outdoor activities and easy access to Washington and Baltimore. "Landex is very excited about collaborating with Patrick Turner and helping to implement his vision for the Westport Waterfront Master Plan."
Westport Waterfront is on the forefront of sustainable "green" design. The project is presently the only neighborhood development on the East Coast seeking LEED for Neighborhood Development (LEED-ND) platinum designation. The Maryland Board of Public Works recently voted to award more than $800,000 to aid with the development Westport's wetlands.
"Landex is exactly the kind of partner that we want to bring to Westport Waterfront � an experienced developer that takes a holistic approach to housing, neighborhoods and communities," says Patrick Turner, president of Turner Development. "Their design mandate that the building must be attractive, contemporary and sustainable over the long term fits our vision for Westport Waterfront."
Source: Patrick Turner, Turner Development
Writer: Walaika Haskins