Demolition Marks Start of $400M Shopping Center

ANNAPOLIS, MD-The initial stage of demolition of Parole Plaza Shopping Center has taken place, setting off the start of development of the new Annapolis Towne Centre at Parole, a $400-million mixed-use project situated off Route 50. Developer Greenberg Commercial oversaw the destruction of a facade of one of the buildings at the 32-acre shopping center site, which will ultimately give way to a development encompassing everything from retail to residential options.

Once a premiere retail destination, the former Parole Plaza sat vacant and decaying for more than a decade before Greenberg Commercial acquired the early 1950s-era property with partner Prudential Real Estate Investors in March for approximately $25 million. When all is said and done, Annapolis Towne Centre will feature 600,000 sf of retail space, 700 residential condominium and apartment units in structures as tall as 16 stories, a 120,000-sf office segment, a 200-room hotel, and such extras as a community skating rink. The site is expected to recapture its luster from yesteryear, and then some.