This second segment of Regatta Bay comes three years after the opening of the first property. Regatta Bay II will sit adjacent to Regatta Bay I on a 10-acre parcel in an area that is just a stone's throw from the 1.2-million-sf Westfield Shopping Mall and the city's historic district. Phase II will feature the same amenities as version one--business center, clubhouse and fitness facility--and then some, such as an on-site movie theater. Even the clubhouse at the new property is distinguished from the facility at Phase I. "The Phase II clubhouse is going to be a stand-alone structure around 9,000 sf," Donatelli & Klein's Steve Harrison shares with GlobeSt.com. "And the theater will feature a large screen with surround sound." Architects Collaborative is on board as the designer for Phase II, and as with Phase I, Global Construction will handle construction activity, while Bozzuto Management will oversee the property upon completion.

With overall vacancy levels for class A buildings in Anne Arundel County at a low 2.7%--according to Delta Associates' Third Quarter 2003 Apartment/Condo Report--Regatta Bay II will be a welcome addition. "We think it's a homerun," Delta Associates' Harvey Singer tells GlobeSt.com. "The location couldn't be better, both with Annapolis as a submarket and the micro-location. It's right up on Bestgate Road, which is a rapidly developing and up-and-coming area of Annapolis. And with the demographics of the area, all factors seemed aligned." He continues, "all points argue for a development's success in that area in general, as is evidenced by Regatta Bay I and Fairfield Properties' Thornbury Bay at Village Greens."