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Old September 4th, 2006, 03:38 PM   #301
StevenW
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Yeah, Sept. 15th we should know something, concerning 10IH, from what I read at the website.
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Old September 6th, 2006, 12:15 AM   #302
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Check out all these very interesting articles:

Condos, apartments join 'green' trend in building
Waterview Overlook condos to be environmentally friendly
By Pat McGlone
Sun reporter
Originally published September 5, 2006
Waterview Overlook, a condominium complex to be built in the Harbor West community, will be among the most environmentally friendly buildings in Baltimore.

Developers are using recycled wood for half of all the flooring and cabinets in the units. It uses Energy Star appliances and building materials such as caulk and tiles that are made with environmentally friendly products.

While homes and office buildings have led the "green" building boom, developers are now applying environmentally friendly materials to residential high-rises and apartment complexes in hopes of luring more customers. Though consumers often frown on the higher costs of green buildings - an average of 2 percent to 5 percent more than traditional construction - developers say lower energy bills for consumers can offset those prices in the long term.

A green home or office could mean a variety of things. The building could have been partially constructed with recycled materials or contain energy-saving lights and windows. The U.S. Green Building Council has developed a ratings system known as LEED - Leadership in Energy and Environmental Design - that groups classes of environmentally friendly buildings into rankings.

Nationwide, green construction that includes commercial and residential high-rise construction has boomed from 38 certified buildings in 2002 to 403 in 2006.

Meanwhile, more than 3,400 buildings are registered and awaiting certification from the U.S. Green Building Council. In Maryland, there currently are 10 buildings certified as green.

"People are interested in this today," said Ed Hord, a senior principal at the Baltimore-based architecture firm Hord, Coplan and Macht.

"We architects have been pushing it for a long time but you can't really push it, it has to be driven by the demand side. People have to want it and right now they want it," Hord said.

The trend has emerged in big cities such as New York and Washington.

In Baltimore, Waterview Overlook, a 77-unit condominium building being developed by Consolidated Investment and Management Group, is scheduled to be finished in 2008. Developers say it will be 35 percent more energy efficient than similar condominiums made without such building materials. The condominiums will start at $270,000. When the project is completed, it will be the highest-rated green building in Baltimore, according to Taryn Holowka, communications manager at the U.S. Green Building Council.

A. Rod Womack, chief executive officer for Consolidated Investment and Management Group, says that building green is something new for them but will probably become their standard.

"It generally costs 3 to 5 percent more construction cost to go green," Womack said. "But in the long run, it saves the buyers and renters money in energy costs. So do we get a marketing bang out of it? Probably, yes."

Green materials such as energy- efficient windows, plumbing and appliances are being used in constructing New Shiloh Village in West Baltimore, a low-income rental development for seniors. Its 80 apartments are scheduled to be completed in May. The project is the first development in Maryland recognized by Green Communities, a national environmental program of Columbia-based Enterprise Community Partners. That program is involved with about 100 green projects across the country.

"We see it as a response to providing a healthier-living environment," said Dana Bourland, director of Green Communities, " ... and an awareness in the building community that there is a different way to do business that is more environmentally responsible."

Blair Towns in Silver Spring is a five-year-old apartment complex that was developed with green building materials, said Marnie Abramson, a principal at Tower Companies, which operates the complex. She said the company has found that consumers still struggle to understand what green building means.

"The cost of construction [in general] is so outrageous people misunderstand the value of green. People see green as the low-hanging fruit that they can easily cut off," Abramson said. "We've had other residents with asthma or allergies say that [their symptoms] been greatly diminished because of the lack of toxic material inside the apartments."

Don Tucker, a principle of Environmental Design Group, a green architecture and development firm in Bethesda, says that in their Eastern Village complex, in Silver Spring, an average two-bedroom unit costs $30 a month in utilities because of the geothermal heating and cooling system they set up versus a more typical $110 a month for a regular two-bedroom condominium.

Cathy Edstrom, a resident at Eastern Village, says that when she was looking for a place to live, the green aspect was not a big selling point but she is pleased with the results. The green features at Eastern Village include bamboo flooring and rainwater cisterns.

If Edstrom had to move, she says, "I don't think I'd go too far out of the way ... but if I found a community with geothermal heating I would definitely be interested."

Jenefer Russum, program manager for energy efficiency at the Maryland Energy Administration, believes prices for green products may drop as competition increases. And she said higher energy costs in Maryland figure to make more people consider green building. "I don't know anybody in the state that's not worried about their energy bill."

[email protected]
---------------------------------------------------------




Lockwood Place waiting for right tenant
Earle Eldridge, The Examiner
Sep 5, 2006 5:00 AM (11 hrs ago)
Current rank: # 72 of 9,569 articles

BALTIMORE - It’s prime retail real estate in Baltimore’s Inner Harbor on Pratt Street, but the owners don’t want just any tenant to occupy it.


“They have been very selective on who they are leasing to,” said Robert Aydukovic, vice president of economic development for the Downtown Partnership of Baltimore, a nonprofit association aimed at attracting businesses to downtown. “They could have leased the building five times over.”

It’s called Lockwood Place and its third floor is home to a Best Buy electronics retail store, which is the kind of big-name tenant the owners, David S. Brown Enterprises, would like to see at 300 East Pratt St. Lockwood Place sits directly across the street from the tourist-heavy National Aquarium and restaurants and shops in the Power Plant.

No one from David S. Brown Enterprises could be reached for comment.

Lockwood contains “90,000 square feet of prime retail space for a mix of upscale retailers and restaurants in a modern three-story glass and steel landmark building,” according to the firm’s Web site, davidsbrown.com.

Aydukovic said Brown Enterprises’ approach to bring high-profile retailers to the site makes sense because of the growing residential units coming to the Inner Harbor area.

“If you look at the way the Power Plant is leased, it’s mostly entertainment with bars and restaurants,” he said.

A retailer like Best Buy attracts tourists looking to get the latest music CD or a camera while in town but also accommodates residents looking to make major electronic purchases, Aydukovic added.

He hinted that Brown Enterprises may be close to signing a deal with a tenant that is part of a major local chain that would offer clothing and other goods.

Brown Enterprises has several other projects and developments in Maryland, including the Symphony Center at 1010, 1020 and 1040 Park Ave. in Baltimore’s cultural district.

Symphony Center features 120,000 square feet of office space with street-level retail suites along with an attached, covered parking structure and landscaped courtyards.

Brown Enterprises also has retail commercial sites in Owings Mills, White Marsh, Fullerton and other Maryland and Pennsylvania locations.

[email protected]

--------------------------------------------------------


City’s superblock ultimatum postponed
Talks between Baltimore and Weinberg Foundation continue

Baltimore City officials are still negotiating with the Harry & Jeanette Weinberg Foundation over the redevelopment of the city’s West Side, despite an expired deadline Mayor Martin O’Malley gave the charity to sell properties it owned there.
- JEN DeGREGORIO
----------------------------------


Developers eyeing mixed-income project for East Baltimore

With a long-planned urban renewal project in East Baltimore finally underway, the private real estate market is beginning to pick up steam in the neighborhood.

- JEN DeGREGORIO
-----------------------------
Sure wish we'd be able to read all of those two Maryland Daily Record articles.

Pretty exciting stuff!
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Old September 6th, 2006, 04:40 PM   #303
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Thanks for the updates Steven.
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Old September 7th, 2006, 04:34 AM   #304
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No problem, waj.
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Old September 12th, 2006, 01:25 AM   #305
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MORE BIG NEWS.

"Condo boom drawing new residents"


Kelly Carson, The Examiner
Sep 11, 2006 5:00 AM (11 hrs ago)
Current rank: # 22 of 6,643 articles

BALTIMORE - The condominium market in Baltimore’s central business district is exploding, with hundreds of units either on the market, under construction or in the planning stage.


It’s a double-edged sword, however, bringing in more affluent residents while pushing middle and lower income residents out to the fringes.

John Hopkins, associate director of applied economics at RESI, the economic consulting organization at Towson University, said high-end condos are in demand by “empty-nesters and professional couples who want the urban atmosphere without the hassles of a yard and daily upkeep.”

The trend is driving redevelopment efforts throughout the area, as evidenced by an announcement last week that the last undeveloped parcel along the Inner Harbor, 300 E. Pratt St., will be transformed into a 52-story mixed-use development, featuring 300 condos, a five-star hotel, restaurant and shopping complex by Baltimore-based Doracon LLC and New York-based UrbanAmerica LP, a private equity firm.

According to multiple-listing-services resale data compiled by Metropolitan Regional Information Systems Inc., 244 condos were offered for sale in January 2006 in Baltimore’s downtown district. Prices ranged from less than $100,000 to $5 million, with the largest offering — 29 — in the $250,000-$299,000 price range. Twenty-eight condos were sold during that period.

In June 2006, the latest month for which data is available, the total number of condos offered for sale in the less than $100,000 to $5 million range stood at 348, with 41 units available in the $250,000-$299,999 range, according to the data. Seventy-eight condos sold in June.

“The impact on existing housing is positive because it’s bringing prices up,” Hopkins said. “As the condos attract a vibrant population back into downtown, it acts as an attractor for like people.”

But there is a downside.

“What at one time was affordable is rehabbed into high-end housing or is being demolished and redeveloped into high-end property. There needs to be an incentive to develop affordable and work-force housing,” Hopkins said.

Middle-income people are beginning to look in neighborhoods just outside the city, or straddling the city-county border, said Realtor Bernadette May of EXIT Spivey Professional Realty.

“A lot of first-time buyers who are not able to buy a $200,000 or $300,000 home are going into areas where the development is going to occur,” May said. “Redevelopment may even be in the process now, but my clients are still able to find decent housing.”

Hopkins said that neighborhoods outside of the central business district are ripe for middle-income development.

“It’s a risk for people because housing is often their primary investment,” he said. “They can buy at a lower price, but they are betting the neighborhood will slowly improve around them. It’s an encroachment on a way of life — forcing out the negative factors — that leads to an area slowly redeveloping. Pending a good economy, everybody benefits.”

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and...

http://www.doracon.com/site/contact.htm

http://www.urbanamerica.com/pdf/300pratt.pdf

FOR IMMEDIATE RELEASE
UrbanAmerica and Doracon Acquire Prestigious Site on Baltimore’s Coveted Waterfront!
NEW YORK, NY Aug. 8, 2006 – UrbanAmerica, a national real estate private equity firm, and Doracon, a Baltimore-based developer, are pleased to announce the acquisition of what many consider the most coveted undeveloped property remaining on Baltimore’s expanding waterfront. The acquisition marks the first step toward completion of a $250 million dollar mixed-use project anticipated to become the city’s signature landmark property.
Richmond McCoy, President and CEO of UrbanAmerica expressed, “I am very pleased to announce this joint venture acquisition and to work with Ron Lipscomb, Owner & President of Doracon. We are excited to participate in Baltimore’s renaissance. Our partnership is committed to bringing the highest quality of mixed-use development to Baltimore.”
The property is located at 300 East Pratt Street. And as planned, it will change the skyline in the Inner Harbor Community. The mixed-use project’s many offerings will include retail, hi-rise residential market-rate condominiums, a luxury hotel and structured parking. It consists of over 1 million sq. ft. of prime inner harbor direct water views, and is situated on the last downtown core premier parcel of land in the City of Baltimore. A high-end full service hotel is likely to boost appeal of the residential condominiums by offering shared amenities, including a concierge, room service, swimming pools and spa services. The partnership is in discussion with several hotel investors that can meet the needs of this proposed plan of the pedestrian-friendly Inner Harbor Community.
Baltimore Mayor Martin O’Malley and co-developer Ronald Lipscomb are both pleased with the promise the project holds and what it means for Baltimore.
“This is an extremely important development for Baltimore on many levels,” said Mayor O’Malley. “Beyond the scale of this landmark project and what it says about the steady progression of our economic expansion, it is a powerful statement about the growth and potential for minority business here in our city. It also says a great deal about Ronald Lipscomb in particular. He is a man of vision, talent and commitment to the greater good. The citizens of Baltimore are very proud and appreciative of what he is accomplishing through this exciting project with our new friends at UrbanAmerica.”
Ronald Lipscomb went on to say, “We are confident that the Pratt Street project will be a major addition to the growing inventory of special projects here in Baltimore. We recognize that we are
very fortunate to have acquired this site and intend to erect a structure that becomes synonymous with the very best Baltimore has to offer. I look forward to doing more development with UrbanAmerica. They appreciate the value of revitalization of our urban centers and have the courage, experience and insight to make their investments successful.”
UrbanAmerica is a national real estate private equity firm with $500 million under management and a $5 billion pipeline of for-sale residential, retail and office opportunities. A minority-controlled registered investment advisor founded in 1998, the Company established an urban investment niche targeting properties in healthcare, government and academic spheres, along with mixed use residential condominiums and retail markets. Currently, it owns and operates a portfolio of properties representing 3.6 million sq. ft. including a large portfolio in the DC Metro area.
Doracon, LLC is a Maryland-based development company with a growing portfolio of residential, commercial and mixed use projects. With over 20 years in the construction business, Doracon is currently involved in a number of waterfront and other high profile projects in Baltimore and other cities throughout the United States.
This press release may contain certain forward-looking information with respect to the results of operations and business of the UrbanAmerica, LP. The words “estimate,” “believe,” “project,” “forecast,” “intend,” “expect” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. For a discussion of some of these risks and uncertainties, see the factors identified under the heading "INVESTMENT CONSIDERATIONS AND RISK FACTORS" in UrbanAmerica's Private Placement.
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Old September 12th, 2006, 07:32 AM   #306
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Awesome news! Sounds like 300 E Pratt is on the fast track. Hopefully construction begins sometime late next year!!
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Old September 22nd, 2006, 04:38 AM   #307
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10 inner harbor No height increase it seems. Atleast not an announced one
Quote:
With the acquisition of a two-acre Inner Harbor parking lot that once housed a McCormick & Co. spice plant, Philadelphia-based developer ARC Wheeler is set to bring its idea for branded mixed-use urban skyscrapers to Baltimore. The company plans to begin construction of a $400-million, 59-story, 1.3 million-square-foot tower next summer.

To be called 10 Inner Harbor (pictured), it will be the second in a planned series. "The first--10 Rittenhouse Square--is under construction in Philadelphia right now," Harold B. Wheeler, a principal with ARC Wheeler, told CPN. "The idea is that on a scale of one to ten, ten is always the best. Our 10s are mixed use, with retail and parking on the lower levels, a little bit of office space, and mostly exclusive residential condominiums."

The Rittenhouse Square design calls for a 500,000 square foot, $200 million tower. ARC Wheeler is evaluating locations in a number of cities similar in size to Baltimore and Philadelphia as potential branded-10 sites, which will cater to empty nest baby-boomers that want smaller residences and city lifestyles.

ARC Wheeler purchased the property from the Central Parking Corp. While the purchase price was not disclosed, Scott Manhoff, senior vice president with the Baltimore office of Grubb & Ellis Co. estimated that a developer might pay between $20 and $30 per built square foot for an urban parking lot. "If the buildout is 1.3 million square feet, the purchase price might be between $20 and $30 million."
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Old September 22nd, 2006, 05:03 AM   #308
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I was told by a friend

that Urban America has chosen Design Collective as architect and that this project is 2 to 3 years away from breaking ground. The architect told me project like 300 East Pratt and 10 Inner Harbor take 2 to 3 years of planning. I'm betting 10 Inner Harbor breaks ground in 2008.

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Originally Posted by sdeclue
Awesome news! Sounds like 300 E Pratt is on the fast track. Hopefully construction begins sometime late next year!!
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Old September 22nd, 2006, 12:15 PM   #309
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I was basically told that 10 IH would break ground either in summer next year or the fall of next year. 2007. But, who knows? I would have thought that next year would be too early for 300 east pratt to break ground, though. 2008 sounds about right. Technically, even though 10 IH just finalized on the "land purchase", it still got alot of the behind the scenes work done since the last couple of months of 2005 and all this year. So I'd guess that the fall of 2007 is when ground breaking happens for 10 IH.

For the other tall projects? Who knows? Maybe 4 to 5 years..........
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Old October 8th, 2006, 09:25 AM   #310
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Quote:
Originally Posted by StevenW View Post
I was basically told that 10 IH would break ground either in summer next year or the fall of next year. 2007. But, who knows? I would have thought that next year would be too early for 300 east pratt to break ground, though. 2008 sounds about right. Technically, even though 10 IH just finalized on the "land purchase", it still got alot of the behind the scenes work done since the last couple of months of 2005 and all this year. So I'd guess that the fall of 2007 is when ground breaking happens for 10 IH.

For the other tall projects? Who knows? Maybe 4 to 5 years..........
I guss that sounds OK. I just really want them to get built. I'm sick of see Legg Mason as the tallest.
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Old October 9th, 2006, 12:07 PM   #311
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By 2009 Baltimore should have a new tallest. Around 21/2 to 3 years away. Legg will be King for at least that much longer.
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Old October 17th, 2006, 04:02 PM   #312
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Wow...i havent posted in this thread in weeks. Any more updates?
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Old October 17th, 2006, 10:40 PM   #313
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Not lately, waj.
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Old October 26th, 2006, 06:35 AM   #314
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Quote:
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By 2009 Baltimore should have a new tallest. Around 21/2 to 3 years away. Legg will be King for at least that much longer.
I hope 2009 the way they been talking lately it sounds like 2011.
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Old November 12th, 2006, 10:12 PM   #315
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Latest info I've found says that 10 IH will be a sixty story tower at 1.6 million sq. ft.!
Here's the link: http://www2.arcproperties.com/graphi..._Baltimore.pdf



Sounds VERY impressive!
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Old December 11th, 2006, 06:29 PM   #316
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414 Water Street is finishing up. (props to Wada Guy for the pic)

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Old December 14th, 2006, 11:39 PM   #317
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Lockwood Place is SCREAMING for a tower to be built above the Best Buy, P.F. Changs and whatever else is going in that building.

And while we're talking about buildings, does anyone know when Stifel Nicolaus' name/logo will adorn the former Alex. Brown Tower?

Also, whats up with Microsoft? Are they still opening a mid-atlantic office in Bmore or not? If so, when and on which building will their logo go? (I doubt anyone will have the answer to the later question.)
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Old December 14th, 2006, 11:54 PM   #318
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i like the last picture of that skyline, looks good
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Old December 15th, 2006, 06:25 PM   #319
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Quote:
Originally Posted by waj0527 View Post
Lockwood Place is SCREAMING for a tower to be built above the Best Buy, P.F. Changs and whatever else is going in that building.

And while we're talking about buildings, does anyone know when Stifel Nicolaus' name/logo will adorn the former Alex. Brown Tower?

Also, whats up with Microsoft? Are they still opening a mid-atlantic office in Bmore or not? If so, when and on which building will their logo go? (I doubt anyone will have the answer to the later question.)
All very good questions, I wish I had the answers. I wonder if the Best Buy is doing enough business?
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Old December 28th, 2006, 07:17 PM   #320
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The original Lockwood Place included a 29 story hotel tower to sit atop what exists now, but the city shot down the plans. If I remember coorectly, their reasoning was that 29 stories was too short for that property. Hopefully, we'll be thanking the city in the future for this decision.
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