New Privately Financed Off-Campus Housing To Serve Morgan State University Students
MCB Real Estate announced the commencement of construction of a new, five-story, multifamily apartment building in the Beverly Hills neighborhoods in Northeast Baltimore. Designed to meet the off-campus housing needs of the fast-growing Morgan State University, the new complex will offer state-of-the-art amenities including in-unit washer and dryers, study rooms, game rooms, on-site parking, an outdoor courtyard, and sustainable landscaping.
Named the Flats at the Markley, the 146-unit project will transform the largest vacant and blighted section of Harford Road, a State highway and the longest official “Main Street” in Baltimore City. Home to many unique retailers and restaurants, Harford Road serves Morgan students and the surrounding neighborhoods and is a focus of Baltimore City’s Middle Neighborhoods strategy of targeted support.
Demolition of the vacant printing facility on the site started this past week and is supported through a partnership between MCB and the non-profit Hamilton-Lauraville Main Street. With Morgan’s support, HLMS received funding for the project from the Seed Community Development Anchor Institution Fund from the State of Maryland’s Department of Housing & Community Development. Amy Bonitz, Vice President of Community Development, is leading the project on behalf of MCB with assistance from Reni Lawal a Development Associate at MCB. Sam Polakoff, who developed the SOHA Union and other projects nearby, is also a partner in the project.
“We are excited to build on the success of our Northwood Commons redevelopment,” said P. David Bramble, Managing Partner at MCB. Bramble’s firm led the development team that worked with Morgan to bring the troubled Northwood Shopping Center back to life. “MCB is committed to the continued growth of Morgan State University, Maryland’s flagship HBCU and the continued revitalization of the neighborhood.”
“This new facility will provide Morgan students with a high-quality option for off-campus housing. We are excited that Morgan will be one of the first HBCU’s in the country to see this same kind of investment in off-campus housing that is being made at the University of Maryland College Park and Towson University,” noted Dr. David Wilson, President of Morgan State University. “This project also builds on our efforts to promote investment within the Morgan Mile around our main campus,” he continued.
“HLMS is excited to work with MCB and Morgan, our community’s anchor institution, to enhance the vibrancy of this long dormant block. Having Morgan students live on a street where they already support local businesses will be a major win for all of us who have been working to bring new investment to the amazing neighborhoods in Northeast Baltimore,” said HLMS Executive Director Daniel Doty.
MCB Real Estate, LLC is an institutional investment management firm headquartered in Maryland. MCB boasts a diverse portfolio of operating assets totaling approximately 14 million sq. ft. of industrial, office, retail, mixed-use, and multi-family properties with almost 4 million sq. ft. in its development pipeline. www.mcbrealestate.com.