In the News...Stadium Square to top out first office building

Sep 26, 2016

By: Melody Simmons

The $275 million Stadium Square project is set to "top out" its first office building in a ceremony Oct. 19.

The six-story, 72,000 square foot Class A office building is located at 145 W. Ostend St. and hold ground-level retail and on-site parking.

It is a part of the seven-building Stadium Square project located in the city's historic Sharp-Leadenhall community in South Baltimore.

Stadium Square has been under construction for more than a year and is a redevelopment of three city blocks into a total of 650 luxury apartments, 300,000 square feet of Class A office space, 70,000 square feet of retail and 2,000 parking spaces.
 
The master developer is Caves Valley Partners, based in Towson, in partnership with The Hanover Co., based in Houston.

The project will hold seven buildings of a mix of new construction and historic renovations. It is bordered by Cross, Race and Leadenhall streets and located near M&T Bank Stadium and Federal Hill.

The first phase will deliver in spring 2017 and will include 299 new apartments in the luxury Hanover Cross Street development and a 180,000-square-foot office building at at 155 W. Ostend St. with ground-floor retail.

A few months later, another luxury apartment development with 350 apartments is expected to open.

The Stadium Square project is expected to be totally completed in late 2019.

The topping out event is a ceremonial milestone in the construction phase, noting placement of the final beam on the development.

On Oct. 19, Mayor Stephanie Rawlings-Blake is expected to attend the noon event along with William H. Cole IV, president of the Baltimore Development Corp., and the Rev. Dr. Alvin Gwynn Jr., pastor of the Leadenhall Baptist Church.

A spokeswoman for Caves Valley Partners said Monday the developer would not comment on ongoing leasing prospects at Stadium Square.

In July, the United Way of Central Maryland backed out of negotiations to be the lead tenant in a 60,000-square foot office building planned for 137.5 Ostend St. at Stadium Square, citing costs. The nonprofit is locating its new headquarters at Montgomery Park in southwest Baltimore instead.

http://www.bizjournals.com/baltimore/blog/real-estate/2016/09/stadium-square-to-top-out-first-office-building.html?ana=e_me_set3&s=newsletter&ed=2016-09-27&u=6651CLnqNZCLqxIc%2BxPm0w03ed73ac&t=1474984561&j=75917492

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