ZOM Finds Shelter in Baltimore’s Inner Habor
The joint venture development looks to lure Millennials and Boomers alike with a great Walk Score and amenity package.
By Dees Stribling, Contributing Editor
Baltimore — Multifamily developer ZOM is preparing to kick off work on Banner Hill Apartments, a 349-unit apartment community in the Inner Harbor area of Baltimore. The Inner Harbor area is notable for being among the first — and still emulated — post-industrial waterfront redevelopments in the country, with a mix of residential, retail and entertainment space.
Units will range from 528 to 1,325 square feet. Banner Hill Apartments will feature a main amenity level on its first floor, with an internet lounge, fitness center and sports simulator. Other amenities will include a second floor pool surrounded by landscaped courtyards.
These design elements are intended to appeal to younger Millennial singles and couples, as well as Baby Boomers looking to downsize, explained ZOM Mid-Atlantic senior vice president Andy Cretal. Both demographics are looking for more urban, walkable locations.
As an urban redevelopment, the Baltimore Inner Harbor is a “Walkers Paradise,” getting a Walk Score of 95 from that organization — that is, daily errands don’t require a car. It also has a Transit Score of 86 (“Excellent”) and a Bike Score of 83 (“Very Bikeable”).
The project is a joint venture with institutional investors advised by J.P. Morgan Asset Management. The general contractor is CBG Building Co., a division of Clark Construction Group.
