The Flats at Eutaw Place Baltimore, MD

UNDER DEVELOPMENT

Property Information

  • Address: 1517 Eutaw Place, Baltimore, MD, 21217
  • Number of units: 62 market rate apartments, with modern amenities
  • Ground floor retail: A neighborhood gastro pub
  • Construction: Kinsley Construction
  • Architects: Marks Thomas
  • Financing: $11.7 million FHA insured first mortgage through Wells Fargo Bank; $2.5 million of Developer's equity 
  • Construction Costs: $10.4 million
  • Total Development Costs: $14.2 million

Somerset Development Partners, in partnership with New Community Partners and the non-profit Memorial Apartments Corporation (MAC), has begun construction of The Flats at Eutaw Place in Baltimore, a new 62 unit market-rate apartment building with a neighborhood gastro pub planned for the ground floor. The Flats is the second phase of redevelopment of the original 3.6 acre site of Memorial Apartments located in the Bolton Hill neighborhood of Baltimore.  The original site was subdivided to provide, in the first phase, for the $26 million renovation and preservation of 266 affordable units at Memorial Apartments — now renamed Linden Park Apartments -- and to build new market rate apartments to create a new mixed income community.

 

The redevelopment of the site as a mixed-use, mixed-income community fulfills the neighborhood vision established in the HUD Choice Neighborhood Plan and fills in a “missing tooth” of the urban fabric on Eutaw Place and McMechen Streets. On McMechen Street, the award-winning Linden Park Apartments provides for affordable senior living in a state-of-the-art building with a wealth of amenities and services. With the closing of a $11.7 million loan with Wells Fargo Bank’s lending division under HUD’s 221(d)(4) program, construction of the new market rate apartment building has begun at the corner of McMechen and Eutaw Place.  The apartment community will have amenities such as a fitness center, a roof-top terrace and community space, bike storage, a dog park, gardens, and a ground floor gastro pub operated by the owners of Café Filí in Mount Vernon. The building will be certified at the National Green Building Standards and Energy Star Homes. The Flats is scheduled to open in the Spring of 2019.

 

The Flats at Eutaw Place will catalyze a revitalization of the Eutaw Place corridor, tying Bolton Hill and Eutaw Place together into a vibrant mixed-income neighborhood, in a transit-oriented location. The development represents an opportunity to re-establish this important intersection by replacing what was a run-down surface parking lot with a beautifully designed apartment building, to fit the scale and character of the neighborhood.  With Maryland Institute College of Art in the neighborhood and easy access to downtown, the Flats will be an ideal location for students, administrators, young professionals, and empty nesters.