The St. James Place project, budgeted at approximately $7.5 million at the corner of
Howard and Franklin Streets, has been awarded to Renaissance Place LLC. Team
developers Wendy Blair and Derrick McDaniels plan to develop the space at the corner
of Howard and Franklin Streets, Westside, as 25 market-rate rental apartments, 44
parking spaces and over 1,900-square-feet of retail space.
Legg Mason Inc. recently subleased 135,000 square feet of its headquarters, at 100
Light Street, to Citigroup. Citigroup will use the space to take over Legg Mason’s
brokerage operation, which it inherited after the 2005 asset swap. Despite the sublease,
commercial and real estate brokers closest to Legg Mason’s lease renewal claim the
company wishes to stay downtown.
Semmes, Bowen & Semmes law firm plans to move from 250 W. Pratt Street to 25 S.
Charles Street due to a 20% growth in employment. The law firm had toyed with the
idea of moving to Anne Arundel, but chose to remain Downtown due to parking
availability and image. The company feels that they are a City law firm and they plan to
stay that way.
The Fells Point Recreation Pier Project has been restored to J. Joseph Clarke of J.J.
Clark Enterprises. Clarke has partnered with Baltimore based Focus Development,
LLC after a previous partner, New Orleans based Historic Restoration, Inc., pulled out of
the deal after suffering substantial losses resulting from Hurricane Katrina. Focus
Development brings deep hotel management and historic redevelopment experience,
most recently completing the Hampton Inn at 131 E. Redwood, City Center.
Struever Bros., Eccles & Rouse, Inc. and Canyon Johnson Urban Fund have started
construction on Twelve 09 North Charles. The project calls for 88 condominiums, 13
apartments, 12,500 square feet of retail space, and 144 parking spaces. The anticipated
completion is scheduled for late summer of 2007.
Christopher S. Schardt was appointed the new s