Pinnacle Development Investors to Develop Unique Luxury Residential Tower In Baltimore
- Jan 20, 2015
Pinnacle Development Investors LLS will start work on a new, ultra-luxury residential tower within Baltimore’s HarborView Community. Called The Pinnacle, the project is unlike other residential developments, because the unit owners are also investors and developers.
Plans call for the construction of an 18-story tower, with 30 units. It will be situated on a podium site, over an existing underground parking facility, with more than 1,000 parking spaces. An elevator core will traverse the parking facility and will provide the residents with direct access from premium parking spaces to their private foyers, thus eliminating corridors.
The Pinnacle will also have luxurious common areas, a guest suite and a fitness center on the second floor, a rooftop terrace, and many other amenities.
The unit owners will each pay their share of the land acquisition, building design and construction costs. David Swirnow, the head of Pinnacle Development Investors LLC, told The Baltimore Sun that the project is expected to cost about $55 million: $12 million for the ground, $25 million for the construction and about $18 million to build the units.
Owners have the freedom to design their units. Each unit will have about 3,800 square feet of space and each floor will have only two units. According to the developers, half of the 30 units have already been reserved by area residents. The first owners are expected to move into the new building in late 2016.
The project will meet LEED Silver requirements. It is designed by renowned architect Robert M. Swedroe of Miami.
Photo credit: pinnacle-luxury.com