MCB Real Estate, the owner of Harborplace, has added the Station North Arts District to the list of Baltimore communities where it’s investing in real estate.
The company has the acquired a former bank at the southwest corner of North and Maryland avenues. Working with the Central Baltimore Partnership (CBP), MCB intends to demolish the building starting next month and redevelop the site. Its initial plans call for the land to become the area’s new Ynot Lot, replacing an outdoor events venue at the northwest corner of Charles Street and North Avenue.
The building that MCB acquired, at 101 W. North Ave., opened in 1961 as a branch of Maryland National Bank. From 1995 to 2015, it housed the Korean-American Grocers & Licensed Beverage Association of Maryland and was known as the KAGRO Building.