Somera and Bozzuto Partner to Build Laurel Commons Residences

By Anuradha Kher, Online News EditorLaurel, M.d.– Somera Capital Management, the owners of Laurel Commons, previously Laurel Mall, announced their partnership with Greenbelt-based Bozzuto Group, to build and design a residential community as part of the mall’s redevelopment plan.The five-story building will house 440 residential units with the first story to be used for commercial use. Three percent of the residential units will be reserved for workforce or moderate-income housing.“We are committed to creating an exciting town center where people can live, work and play,” says Tom Falatko, senior vice president, Retail Investments, Somera Capital.The building will have amenities including a pool and health club, a business center/cyber café and a billiards room.Toby Bozzuto, executive vice president of The Bozzuto Group says, “The residential component of the planned revitalization of the Laurel Mall will provide the type of pedestrian lifestyle demanded by many of today’s renters.” The project is expected to start construction in 2009 with an estimated completion date of late 2010.The City of Laurel identified Laurel Commons as the centerpiece for redevelopment and revitalization of the Route 1 corridor in the city.