Bozzuto Breaks Ground on $72M Mixed-Use Project in Fells Point
- Dec 16, 2011
The Bozzuto Group broke ground last Tuesday, December 13, on a $72 million residential and retail waterfront development located at the intersection of Thames and South Wolfe Streets. The Union Wharf project will bring 281 upscale apartments, 4,500 square feet of retail and nearly 500 parking spaces to Baltimore’s Fells Point neighborhood.
Union Wharf is located on the eastern edge of the Fells Point peninsula, on an undeveloped site overlooking the Inner Harbor. In May, the Baltimore City Planning Commission approved project designs. It has been accepted into Maryland’s Voluntary Cleanup Program and is being built to achieve LEED Gold certification from the U.S. Green Building Council. The once-industrial site was most recently used as a parking lot. Bozzuto is now working together with the state to clean the site.
The seven-story complex will include a fitness center with a yoga room, a resort-style lobby, a bar room, a billiards room, theatre, Internet café and conference room. It will also feature a 150-foot infinity edge pool, designed after the one at Miami Beach’s Delano Hotel, as well as several courtyards built along the promenade. The construction of a ground-floor restaurant is also in discussion.
With apartments of about 850 square feet, average rents will be somewhere between $2,250 and $2,300 a month. Bozzuto expects to finish construction in November 2013, with some units ready for renting in summer 2012.
Union Wharf is being financed in part through a partnership between Bozzuto, CIGNA and Chicago-based Pritzker Realty Group, as well as a a construction loan from PNC Real Estate. The Bozzuto Group has been interested in building apartments in the Fells Point area for a long time. Union Wharf is being developed by Greenbelt,Md.-based Bozzuto Development Co., built by Bozzuto Construction Co. and managed by Bozzuto Management Co.