BALTIMORE—The Hanover Co. of Houston is poised to purchase land from Caves Valley Partners in South Baltimore that will facilitate the development of more than 300 apartment units.
The project will be the residential anchor for Caves Valley Partners' $250-million Stadium Square development. The area is a collection of aging industrial buildings along Cross and Ostend streets near M&T Bank Stadium. The Stadium Square project is to include 300,000 square feet of office, approximately 70,000 square feet of retail and 2,000 parking spaces, according to the Baltimore Business Journal.
The project site for the Hanover residential development is bounded by Cross, Leadenhall, West and Race streets.
Arsh Mirmiran, a partner at Caves Valley Partners, says his firm and Hanover had discussed forming an equity partnership in the apartment building, but later agreed that a simple land transaction would be "cleaner on both sides." He did not reveal the sale price of the land parcel. See story in the Baltimore Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
