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Old April 29th, 2007, 02:00 AM   #3241
vivo
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In fairness to the article I posted, I don't think it warrants a comparion between the "Cities of the Future" and the "Fattest and Fittest" and the like, or a comparison between Foreign Direct Investment of the Financial Times of London and any of the rag magazines previously mentioned. Perhaps the most notable difference is that Baltimore, and every other city involved, was required to submit a bid to the Financial Times. That bid was then put to a three judge panel who examined each bid with regards to the criteria listed below. The entire process takes about a year, and the competition occurs once every two years. While nobody is claiming that being on this list is a guarantee that Baltimore will be a "City of the Future," I definitely think this is a little more of an honor than being named "The Best City of Singles" by some writer looking for an interesting article to sell. There were 108 North American cities that submitted bids for this years competition, including just about every major North American city (Philadelphia included ).

Anyway, here is the list of criteria that was evaluated. How each city stacked up against one another in the individual categories can be found on Foreign Direct Investment's website www.fdimagazine.com
didn't the singles designatioon include dc? at least for forbes it did I think.
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Old April 29th, 2007, 02:15 AM   #3242
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I'd like to see Chelsea vs Liverpool!
I'd love it if a match like that took place in Baltimore. How often do matches of that caliber come to the region? Or to the United States at all for that matter? I think soccer will take off in the US sooner or later, perhaps after WC 2010, and I'd love for a team to be in Baltimore. I had the pleasure of watching England-Austria world cup qualifier in Manchester in 2005 and it was the most invigorating sporting event I've ever seen. Presently my allegiance is split between Glasgow Celtic and DC United, but I'll jump ship to a Baltimore team when/if we get one.
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Old April 29th, 2007, 03:48 AM   #3243
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Who is the "texas Firm"?????
I'm not sure.
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Old April 29th, 2007, 04:02 AM   #3244
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Interesting story: http://www.baltimoresun.com/business...,6382627.story
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Old April 29th, 2007, 04:22 AM   #3245
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I'm not sure.
Probably HKS
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Old April 29th, 2007, 05:41 AM   #3246
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I'd love it if a match like that took place in Baltimore. How often do matches of that caliber come to the region? Or to the United States at all for that matter?
Matches like that have become more popular in about the last 5 years but they are spread out all over the country. So any given team might only play 2 exhibition games in the US during their summer offseason. I think LA gets the most of these games, but NYC, philly, boston DC, chicago, houston, etc have probably all had at least a couple of these games in the last 5 years. The number of these type games goes up considerably when you throw in all of the MLS exhibition games with international club teams (All-star game, DC united vs chelsea, etc). Most of the games we've had in this area have been at RFK stadium. The AC Milan/Barcelona game I went to was supposed to be at FedEx field but there were some snags with the negotiations and logistics so it ended up at RFK. I think M&T would be a great alternative and would be a better place to watch a match than RFK is.
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Old April 30th, 2007, 03:58 AM   #3247
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City leaders mull ways to use water taxi as mass transit
Baltimore Business Journal - April 27, 2007by Scott DanceStaff


City and development officials are ramping up talks of expanding Baltimore's well-known water taxi ride, a popular option for tourists, into a viable option for cross-city commuters.

Baltimore City Councilman Jim Kraft, who represents the city's east side, said discussions are ongoing, examining options of adding more landings for the taxi and increasing the number of boats to make it not only a pleasure ride but also mass transit.
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Old April 30th, 2007, 05:17 AM   #3248
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Probably HKS
If this is indeed the "Texas Firm", it' good to know that these guys do good work from. Here's their website:

http://www.hksinc.com/
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Old April 30th, 2007, 05:35 AM   #3249
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City leaders mull ways to use water taxi as mass transit
Baltimore Business Journal - April 27, 2007by Scott DanceStaff


City and development officials are ramping up talks of expanding Baltimore's well-known water taxi ride, a popular option for tourists, into a viable option for cross-city commuters.

Baltimore City Councilman Jim Kraft, who represents the city's east side, said discussions are ongoing, examining options of adding more landings for the taxi and increasing the number of boats to make it not only a pleasure ride but also mass transit.
Before it could function like transit, it seems as though they would have to speed the boats up somewhat, prepare for more passenger volume, cut the price and figure out what to do on bad weather days. I can see it working though and considering that a waterfront transit line isn't on MTA's agenda, this would be a great addition.
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Old April 30th, 2007, 05:41 AM   #3250
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Stuff gets rated and listed all the time. Nobody bothers much with the validity of the lists and most people forget them as soon as the publication hits the recycling bin. If you are a city promoter, you save the ones you like and forget the ones you don't. These lists are the equivalent of the celebrity stalker magazines' list of who has the most or least cellulite on their butt......

Exactly....so let's stop posting them!
Unfortunately, those are the articles that almost everybody reads. Lists are known as big draws for magazines. Even I, as a skeptic and statistical practitioner, may scoff, but I close the door and read them.
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Old April 30th, 2007, 05:43 AM   #3251
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My favorite one was the "fittest and fattest" cities in the country by Men's Fitness magazine. Baltimore was #1 most fit and Chicago was #1 most fat!
Baltimore...#1 in fitness? Is this the Baltimore that's in Maryland? These hard bodies are hiding pretty well.
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Old April 30th, 2007, 11:44 AM   #3252
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New life for an old building
Architecture: Edward Gunts

Originally published Apr 30, 2007

So many historic structures have been threatened with demolition in Baltimore lately that it almost seems hard to believe when someone moves to save a building. Especially when that someone volunteers to do so, rather than having to be prodded.

That's what an Odenton developer wants to do with the Furncraft building, an early 20th-century warehouse at 301 Fallsway that has been home to a furniture store for the past 65 years.

If all goes according to plan, the 100-year-old building will be reborn by mid-2008 as a 63-room Sleep Inn, within easy walking distance of downtown and the Inner Harbor.

Its window layout and high ceilings are perfectly suited for reuse as a hotel, and the white paint can be stripped off to reveal handsome brick facades, says the new owner, Sanket Patel of Roma Inns in Odenton. "It's a great building."

The Furncraft conversion is one of two hotels that Patel wants to build on Fallsway, near where the elevated Jones Falls Expressway comes to grade and feeds into downtown Baltimore. The second is an 11-story Cambria Suites hotel.

Preliminary designs, by MWT Architecture of Buffalo, N.Y., drew a generally positive response when Patel presented them last week to Baltimore's urban design and architecture review panel, and they go before the city's zoning board tomorrow.

Patel's idea to convert the Furncraft building to a hotel was particularly well-received.

"That's a remarkable fit for that building - the columns, the windows, the staircases," said city planning director Douglas McCoach.

While the recycling proposal appeals to city planners and preservationists, it almost didn't happen.

Patel said he initially had his eye on a smaller building next door, the Hillen Tire & Auto repair shop. But after buying that property in 2005, he learned that Furncraft was available as well and purchased it. Another developer had it under contract for a condo conversion but didn't proceed with his plans.

"When the opportunity arose, we jumped at it," Patel said. "It just fell into our lap."

Patel initially wanted to save the Hillen Tire building, too, but concluded that because of its size and shape, "the numbers didn't work." He plans to raze it to make way for the Cambria Suites.

The Furncraft building, which dates from around 1910, is larger and more prominent than the Hillen Tire building and is less industrial in character. Since it falls within Baltimore's Oldtown national historic district, the conversion would be eligible for tax credits for historic preservation if the work meets federal guidelines.

According to Patel and architect Mark Blackburn, the restoration plan calls for landscaping the entranceway and installing new windows and heating and mechanical systems to serve the guest rooms, which will cost $90 to $100 a night. The anticipated cost of the conversion is $2 million to $3 million, plus the purchase price of approximately $1.3 million, Patel said.

Review panel member Walter Ramberg cautioned the architect to be careful about altering window proportions and introducing unsightly "through-the-wall" air conditioning units.

"The building's appearance will be significantly affected by the the way the windows are taken care of," he said.

Historic buildings that have met the wrecking ball recently include the Rochambeau apartments on Franklin Street, 1820s-era rowhouses on St. Paul Place and a loft building across from Davidge Hall on Lombard Street.

The Furncraft building wasn't on anybody's must-save list, but Patel said he's pleased with the way it accommodates the hotel use. He said the Sleep Inn chain, a division of Choice Hotels, typically builds its projects from scratch, and he had to convince its representatives to work with an existing structure. Although the building isn't fancy or ornate, its simple, stripped-down exterior is consistent with a budget-oriented brand, and the open floor plan made it easy to work with.

Patel is lucky that the building hadn't been snapped up by another developer. He said he benefitted because the furniture store's owner was ready to retire and the previous conversion plan fell through.

Patel said he also thinks people haven't invested in Oldtown properties in general because they lie east of the elevated Jones Falls Expressway, which is perceived as a wall that cuts the area off from downtown. But for pedestrians, he said, it's just a short walk to City Hall, the Inner Harbor or the Metro station to the Johns Hopkins medical campus, and it has "tremendous visibility" from the expressway itself.

All the area needs, he said, is a more defined pedestrian connection to the Jonestown heritage trail and a few other links to downtown and the waterfront.

Because it's east of Interstate 83, he said, Oldtown has been overlooked. "People have been reluctant to invest in that area. But it's centrally located. Once someone does something, it's going to snowball."



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Old April 30th, 2007, 11:45 AM   #3253
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Struever Bros. to tweak Olmstead’s shopping space
JEN DEGREGORIO
Daily Record Business Writer
April 29, 2007 8:45 PM
When she was a freshman at the Johns Hopkins University, Kristin Viswanathan used to borrow friends’ cars just so she could get her caffeine fix at the Starbucks in suburban Towson.

But Viswanathan, now a junior, no longer has to go to such great lengths to score a cup of coffee. She has her pick of two Starbucks on St. Paul Street that have popped up in the last year as part of Struever Bros. Eccles & Rouse’s Village Commons project. The mixed-use development between 34th and 32nd streets includes Village Lofts, a condominium building, and Charles Commons, which is two dormitory buildings. Both of the buildings include ground-floor retail.

“We don’t know how we lived without this,” Viswanathan said Friday afternoon, waving toward the Village Lofts at 3201 St. Paul St., whose ground-floor houses one of the Starbucks, a Cloud 9 Clothing store and a Chipotle Mexican Grill. “There is no one I know who is not ecstatic about this.”

The popularity of the retail offerings at Village Lofts and Charles Commons, which has a Barnes & Noble and another Starbucks, inspired Struever Bros. to reconsider the final phase of Village Commons, the Olmstead.

The Baltimore developer is redesigning the Olmstead to include more retail space. Plans for the building, which is planned to rise directly across St. Paul Street from the Village Lofts, originally called for 107 condominiums and about 15,000 square feet of retail space. But with retail booming across the street, and the city’s housing market in a funk, Struever Bros. thinks the Olmstead could fare better with more shopping options.

“We’ve had a really good response from the retailers that we have talked to locally, regionally and nationally,” said Bob Rubenkonig, a spokesman for the company.

Struever Bros. is still in the early stages of the redesign. But options include cutting the number of residential units or building a taller building.

“It’s still premature,” Rubenkonig said. “We will … moderately change the design.”

The company plans to present new plans to Charles Village residents in the months ahead. But Rubenkonig suspects that residents will be happy with the changes. Likely retail candidates for the Olmstead include a Royal Farms convenience store and a florist shop, both of which operated on St. Paul St. before Struever Bros. demolished their buildings for its development. Restaurants and a wine bar could also be part of the mix, he said.

Dana Moore, president of the Charles Village Civic Association, said the first two phases of Village Commons have brightened the neighborhood and made life more convenient for those who live in the area.

“What we have now is really exciting,” she said. “The community seems to have really enthusiastically embraced it.”

Moore is aware of the redesign and looks forward to seeing plans for the Olmstead.

“Right now we’ve got this big empty space, and the community has a lot of needs that can be addressed through a good use of that spot,” she said.

Geoffrey L. Mackler, a principal with Timonium-based H&R Retail Inc., is not surprised that the new shops at Village Commons are doing so well. People are moving back into cities, and retail always follows rooftops, he said.

“Charles Village has been historically under-retailed,” he said.

Only a few restaurants, bars and small grocery stores can be found in the neighborhood, which is north of downtown. But Charles Village, with its large student population, has the perfect demographic for many retailers, according to Mackler.

“I think it’s a testament to what’s happening in our world today,” he said. “Housing is slowing, and retail is still thriving.”
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Old April 30th, 2007, 04:37 PM   #3254
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Southside Shopping / Former Fort Ave CVS

I was wondering if anyone had information on two properties, one being the former CVS building on Fort Avenue between Marshall and Patapsco Sts. This building has sat vacant for a long time, and it was my understanding that Federal Hill Development Group was building new luxury rowhomes. Any idea on how to get info. on this?

Secondly, does anyone know who owns the Southside Shopping Center? Talk about an undervalued asset...this place could be a gold mine of a 50-year anchor lease with big name in-lines, instead there's a low-end grocery store (Shoppers) in a neighborhood where the median income is approaching six figures.
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Old April 30th, 2007, 05:18 PM   #3255
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I was wondering if anyone had information on two properties, one being the former CVS building on Fort Avenue between Marshall and Patapsco Sts. This building has sat vacant for a long time, and it was my understanding that Federal Hill Development Group was building new luxury rowhomes. Any idea on how to get info. on this?

Secondly, does anyone know who owns the Southside Shopping Center? Talk about an undervalued asset...this place could be a gold mine of a 50-year anchor lease with big name in-lines, instead there's a low-end grocery store (Shoppers) in a neighborhood where the median income is approaching six figures.
I love that shopping center for a most of the stores, but some of them are so ghetto. If a good developer came in, gave the place a face lift, sought out better tenants to fill some of the vacancies, that place would be a true goldmine.

I mean, why do we have a cigarette outlet? That place disgusts me. It sells vices and that is it. Cigarettes and lottery tickets? what a great thing for our community and society.

I was about to complain about the good will, but that place is great. Its in the perfect neighborhood, not because of the cliental, but because of the source of goods. I am willing to put up the quality of goods at that Goodwill vs. any other goodwill in the city. Think about it. Its surrounded by wealthy households who have little homes. We all need to purge our “stuff” because of the size of our homes so we purge it at goodwill. I have given away some really nice clothes, decent furniture, tv’s etc. That place is as much of a convienence to me as it is to the customers.

But now, lets talk redevelopment. Get rid of the stick of stores that puts its back to Boyle Street. Most those busuinesses over to the vacant spaces on the east side of the site. Put stacked 2-story flats that front boyle and back up to a parking structure on the property. That will give some life to boyle, which is a service alley right now. That would be phase I. I haven’t though about phase II yet.
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Old April 30th, 2007, 05:25 PM   #3256
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Good Article on Housing

Good to know that all members of the media are not from the write-stories-that-get-the-population-to-run-for-cover-just-because-it-sells-newspapers school of thought:

Also heard at the JHU architecture forum last week that BDC is forecasting new single family housing demand at 7,400 units for Baltimore City. There are only 2,900 units in the pipeline.



How much worse can housing get?
Mortgage market commentary
Friday, April 27, 2007

By Lou Barnes
Inman News

The slow drift downward in long-term rates stopped this week, the 10-year T-note at 4.69 percent, mortgages settling just above 6.25 percent.

Once again, good economic news dampened recession hopes in the bond market: orders for durable goods were very strong in March, up 3.4 percent, double the forecast, and February's orders were revised up half-again the initial report. Orders for durable goods trend along with capital spending by business, and weak business spending during the winter was thought to prove economic weakness spreading from housing and autos. But, not yet.

Today's first-quarter Gross Domestic Product data confirmed the pattern: overall GDP growth was the poorest in four years, only 1.3 percent. However, consumer spending was up a solid 3.8 percent, and weak housing by itself sawed one full percentage point from GDP.

The immense hopes in the bond market that housing will pull the economy down are -- so far -- misplaced. Housing has slowed the economy, but not tipped it over. Hence, a four-year low for GDP growth failed to encourage bond buyers, and long-term rates are the same.

It is hard even for professionals to sort through housing stories. Actual economic weight is distorted by exuberance among pessimists, and gallows humor at the fall of the profiteering mighty. Far too many "experts" report the fate of home prices as though there were one, single, unified national market. A traditional forecasting error, projecting trend to straight-line infinity, is especially misleading when it comes to the marvelously adaptable American household.

There are three forces in play: damage done to the economy by the current state of housing; how much worse housing may get; and effects of mortgage defaults on the credit markets. Keep these separate! The daily alarmism has all three in a self-reinforcing spiral to doom, but they are not so closely linked.

One at a time. Home prices on national average are flat, OFHEO and Case-Shiller studies giving the lie to all the "prices-are-falling" howling. Prices are falling in several micro markets; however, except for the auto-belt, the falling-price zones are the ones that enjoyed the greatest gains. If you were the last lucky buyer to the party, you're in pain; but the earlier buyers are thoroughly protected by 100 percent-plus appreciation, feeling nothing more than a missed opportunity to cash out at the top.

Housing went flat at least a year ago, and the Fed's numbers show that equity-extraction dropped sharply way back then. Not "going to drop," but already has.

How bad will it get? Blue sky. Pick your pessimist, or pick history. History says that markets that outran supporting purchasing power will stay flat for years; the bigger the "outran" margin, the more likely prices will drop for a year or so after the peak -- but then, just flat. Grinding, millstone flat.

The best black comedy and hysteria says that default shock to Wall Street and friends will cause a sudden withdrawal of mortgage credit, which will make all of this worse. We will know shortly, because that shock is also in the past: most mortgage underwriting has rolled back to old standards, yet new loan applications are steady.

I think the most probable outcome is a multiyear limit on consumer spending imposed by a near-stop to equity extraction. Already countering the damage: adaptability (co-signers, gifts, reduced expectations, new jobs, and revolutionary concepts like "saving"), and fantastic strength in the global economy.

Last month it looked as though the U.S. economy was finally caving in; now the corporate sector looks OK. If inflation will behave, slide back under 2 percent, pulled down by wage competition with Asia and not by unemployment here ... then we get one of the all-time sweet spots. No recession, moderate growth -- a scenario more probable than doom by housing. Doom will need reinforcement from elsewhere.

Lou Barnes is a mortgage broker and nationally syndicated columnist based in Boulder, Colo. He can be reached at [email protected].
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Old April 30th, 2007, 05:39 PM   #3257
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Good news about the Olmstead. I had a feeling there was more going on there than just Struever sitting on the property. It would be great if the redesign gave us something really phenomenal, but to be honest, I'm more than content with the current design. I actually think it's one of my favorite buildings proposed in Baltimore in a long time. While I think Charles Village could use more practical retail, I wonder if incorporating more entertainment-type destinations might help spark the area a little more. The area already includes Hopkins Square. I could definitely see similar retail doing well at the Olmstead site.
I really think what Charles Village needs in order to really complete itself though, is to be served by the subway.
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Old April 30th, 2007, 07:03 PM   #3258
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Before it could function like transit, it seems as though they would have to speed the boats up somewhat, prepare for more passenger volume, cut the price and figure out what to do on bad weather days. I can see it working though and considering that a waterfront transit line isn't on MTA's agenda, this would be a great addition.
I agree. London's riverboat service has a map drawn in Underground-style, with piers shown like stations. The piers have covered waiting areas and subway-style electronic "next boat" indicators. It's a great way to add transit capacity in a crowded city and could work for Baltimore too. Integration with existing transit is essential, but the MTA has never been particularly good at that!
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Old April 30th, 2007, 07:39 PM   #3259
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Good news about the Olmstead. I had a feeling there was more going on there than just Struever sitting on the property. It would be great if the redesign gave us something really phenomenal, but to be honest, I'm more than content with the current design. I actually think it's one of my favorite buildings proposed in Baltimore in a long time. While I think Charles Village could use more practical retail, I wonder if incorporating more entertainment-type destinations might help spark the area a little more. The area already includes Hopkins Square. I could definitely see similar retail doing well at the Olmstead site.
I really think what Charles Village needs in order to really complete itself though, is to be served by the subway.
I was really relieved after I read that article because recently I noticed that the large banners with the renderings of the Olmstead that used to cover the chain link fence around the the site had been removed. More retail and restaurants would be great for that area and be a lot more welcoming to the Hopies who are used to that sort of enviromnent. Struever usually finishes its projects and so I was surprised that nothing had happend with the Olmstead since the Lofts across the street were completed.

And speaking of retail in downtown Baltimore, I was curious to see what the new Filene's Basement store was like since I shop at the one in Towson and the one in Hunt Valley. Boy, the place was packed with shoppers and I liked the merchandise. It is fairly compact, but they have a great selection and I ended up buying somethig even though I hadn't intented to. I also stopped by the new Super Fresh and it too was crowded. I was very impressed and I thought to myself how under retailed downtown really is ever since the late 60's when white flight began! I also wonder how retail will evolve in the future especially with all of the high end residential projects like the Vue, Four Seasons, Eden, Zenith and Ritz Carlton, not forgetting all those pier homes on the south side too. People that live in places like that are going to want more than Filene's Basement, don't you think?
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Old April 30th, 2007, 11:04 PM   #3260
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New life for an old building
Hotels may open development of Oldtown area
Design panel balks at hotel's 'severe' look


Architecture: Edward Gunts
Originally published Apr 30, 2007

So many historic structures have been threatened with demolition in Baltimore lately that it almost seems hard to believe when someone moves to save a building. Especially when that someone volunteers to do so, rather than having to be prodded. That's what an Odenton developer wants to do with the Furncraft building, an early 20th-century warehouse at 301 Fallsway that has been home to a furniture store for the past 65 years.

If all goes according to plan, the 100-year-old building will be reborn by mid-2008 as a 63-room Sleep Inn, within easy walking distance of downtown and the Inner Harbor. Its window layout and high ceilings are perfectly suited for reuse as a hotel, and the white paint can be stripped off to reveal handsome brick facades, says the new owner, Sanket Patel of Roma Inns in Odenton. "It's a great building."

The Furncraft conversion is one of two hotels that Patel wants to build on Fallsway, near where the elevated Jones Falls Expressway comes to grade and feeds into downtown Baltimore. The second is an 11-story Cambria Suites hotel.

Preliminary designs, by MWT Architecture of Buffalo, N.Y., drew a generally positive response when Patel presented them last week to Baltimore's urban design and architecture review panel, and they go before the city's zoning board tomorrow.

Patel's idea to convert the Furncraft building to a hotel was particularly well-received. "That's a remarkable fit for that building - the columns, the windows, the staircases," said city planning director Douglas McCoach. While the recycling proposal appeals to city planners and preservationists, it almost didn't happen.

Patel said he initially had his eye on a smaller building next door, the Hillen Tire & Auto repair shop. But after buying that property in 2005, he learned that Furncraft was available as well and purchased it. Another developer had it under contract for a condo conversion but didn't proceed with his plans.

"When the opportunity arose, we jumped at it," Patel said. "It just fell into our lap." Patel initially wanted to save the Hillen Tire building, too, but concluded that because of its size and shape, "the numbers didn't work." He plans to raze it to make way for the Cambria Suites.

The Furncraft building, which dates from around 1910, is larger and more prominent than the Hillen Tire building and is less industrial in character. Since it falls within Baltimore's Oldtown national historic district, the conversion would be eligible for tax credits for historic preservation if the work meets federal guidelines.

According to Patel and architect Mark Blackburn, the restoration plan calls for landscaping the entranceway and installing new windows and heating and mechanical systems to serve the guest rooms, which will cost $90 to $100 a night. The anticipated cost of the conversion is $2 million to $3 million, plus the purchase price of approximately $1.3 million, Patel said.

Review panel member Walter Ramberg cautioned the architect to be careful about altering window proportions and introducing unsightly "through-the-wall" air conditioning units. "The building's appearance will be significantly affected by the the way the windows are taken care of," he said. Historic buildings that have met the wrecking ball recently include the Rochambeau apartments on Franklin Street, 1820s-era rowhouses on St. Paul Place and a loft building across from Davidge Hall on Lombard Street.

The Furncraft building wasn't on anybody's must-save list, but Patel said he's pleased with the way it accommodates the hotel use. He said the Sleep Inn chain, a division of Choice Hotels, typically builds its projects from scratch, and he had to convince its representatives to work with an existing structure. Although the building isn't fancy or ornate, its simple, stripped-down exterior is consistent with a budget-oriented brand, and the open floor plan made it easy to work with.

Patel is lucky that the building hadn't been snapped up by another developer. He said he benefitted because the furniture store's owner was ready to retire and the previous conversion plan fell through.

Patel said he also thinks people haven't invested in Oldtown properties in general because they lie east of the elevated Jones Falls Expressway, which is perceived as a wall that cuts the area off from downtown. But for pedestrians, he said, it's just a short walk to City Hall, the Inner Harbor or the Metro station to the Johns Hopkins medical campus, and it has "tremendous visibility" from the expressway itself.

All the area needs, he said, is a more defined pedestrian connection to the Jonestown heritage trail and a few other links to downtown and the waterfront. Because it's east of Interstate 83, he said, Oldtown has been overlooked. "People have been reluctant to invest in that area. But it's centrally located. Once someone does something, it's going to snowball."
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