Chesapeake Realty, Wood Partners and Bernstein Management Break Ground on the Winthrop Luxury Apartments
- Oct 24, 2013
Chesapeake Realty Partners, Wood Partners and the Bernstein Management Corporation recently broke ground on the first phase of a project that will ultimately bring 470 new luxury apartments to a 13-acre site in downtown Towson. Baltimore County Executive Kevin Kamenetz was present at the event.
Development started in July with the demolition of the 70-year old, 150-unit Dulaney Valley Apartments at 944 Dulaney Valley Road. The developers announced the purchase of the old apartment complex in November, 2012. They will construct an environmentally friendly “green” apartment community on the site. The Baltimore Business Journal reported in August that the total cost of the project is estimated at $100 million.
The Winthrop is the first of two four-story buildings the developers plan to construct on the site. It will feature 295 luxury apartments and will include such amenities as controlled-access parking garages, Resident’s Clubs, swimming pools with outdoor living rooms, fitness centers, and game rooms. Leasing for this Class A community is expected to start in May 2014.
The second phase of the project will be developed by Wood Partners and Taylor Property Group. The developers announced in July the building will feature 175 units and the same amenities as the Winthrop. The two buildings are designed to be complementary but will be operated separately. Construction on the second building will begin once the Winthrop is finished.
“More than 2,600 new luxury apartments, town homes and student apartments have been recently built or are in development in downtown Towson,” Kevin Kamenetz said in a statement for the press. “The Winthrop will be a first-class apartment community that is sure to attract people looking for a great location near work, college, shopping, restaurants and entertainment.”
Investments worth over $770 million are bringing new offices, luxury apartments, shops and restaurants to downtown Towson. Notable projects include the Cinemark-anchored Towson Square entertainment center and the $300 million Towson Row mixed-use development.
Photo credits: Chesapeake Realty Partners