Fore Property Co. Plans 727-Unit Apartment Community in Lutherville-Timonium
- Nov 08, 2014
In its 2014 Apartment Market Report for the Baltimore area, Marcus & Millichap said operations in the region will continue to strengthen and vacancies will drop to 4.5 percent by the end of the year. Anticipating the growing demand, numerous developers have started work on several large apartment projects. One of the largest could be coming to Lutherville-Timonium.
According to The Baltimore Sun, Fore Property Co., which has offices in Washington, D.C., Las Vegas and Houston, plans to build a 727-unit apartment community on Aylesbury Road. Plans are scheduled to come before the Baltimore County Council on Wednesday, Nov. 12. The council could vote on the resolution at its meeting on Monday, Nov. 17.
Fore Property plans to develop the project in two phases. Phase I calls for the construction of a five-story structure on the site between the Timonium Business Park Light Rail station and Aylesbury Road. It would house 328 units and would feature two courtyards, a pool and parking garage.
Jim Sullivan, vice president at Fore Property Co., told The Baltimore Sun that the second phase of the project calls for the construction of another building, with 399 units. This second building would be similar to the first and would feature the same amenities. It would be developed on land currently occupied by the Printing Corp. of America. However, since the printing company has a 15-year lease on the property, the start of construction on Phase II could be more than a decade away.
In spite of this, Fore Property decided to seek PUD approval on the entire 11-acre plan at the same time. The Lutherville-Timonium property is currently zoned for industrial use and does not allow residential development. The project still has many hurdles to clear; but, if Baltimore County gives it the go-ahead, construction on Phase I could start by the end of next year.
Fore Property did not disclose the cost of the project or its name. It is designed to achieve LEED Silver certification.
Photo credit: Baltimore County