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BALTIMORE-A team of developers plans a mixed-use project in historic Mount Vernon. It will center on local transportation hubs, including Penn Station and other venues available in the city's central business district.

Canyon Johnson Urban Funds' Canyon Johnson Urban Fund II, a joint venture between Beverly Hills, CA-based Canyon Capital Realty Advisors and Johnson Development Corp., has joined forces with locally based Struever Bros. Eccles & Rouse to develop the project, which will cost an estimated $34.6 million to realize. Funding for the project--construction financing, as well as a permanent loan--is being supplied by Citibank Community Development.

Currently operating without an official name, the project will sit at 1209 N. Charles St., just blocks from the Jones Falls Expressway. The site, a former parking lot purchased from Aegon USA Inc. in 2004, will ultimately become home to 88 residential condominiums, 15,000 sf of ground-level retail space and a parking facility to accommodate 140 vehicles. Architectural responsibilities are being handled by Design Collective Inc., while SBER will take on a second role as general contractor. Construction activity will also include the renovation of two adjacent historic structures belonging to SBER.