Call Us Today ~ Local: (443) 599-9541 || Toll Free: 1-888-342-0585

Baltimore Development Corp. seeks higher price from developer for Pratt Street parcel

Home » Real Estate » Baltimore Development Corp. seeks higher price from developer for Pratt Street parcel

Baltimore Development Corp. seeks higher price from developer for Pratt Street parcel

The board of the Baltimore Development Corp. on Thursday voted to seek a higher price for a roughly half-acre parcel on Pratt Street, which the city is considering selling for redevelopment.

New York-based Carlyle Development Group has proposed to buy the property, a strip located between S. Charles and S. Hanover streets, from the city for $275,000, redeveloping the block with about 25,000-square-feet of retail, offices and community space in two stories.

The firm is the owner of the adjacent building, 100 S. Charles Street, which it purchased in 2015 with plans for a renovation that would reorient the site along Pratt Street, considered one of the city’s prime corridors. Morgan Stanley said last year it would locate employees there in an planned expansion of its presence in the city.

An appraisal for the BDC estimated the value of the parcel, officially located at 111 S. Hanover Street, at $1.3 million, officials said.