BALTIMORE, MD (August 25, 2022) – Today, MCB Real Estate, along with MLR Partners and ATAPCO Properties announced the first phase of redevelopment of Madison Park North, located at the 800 block of West North Avenue. The project represents a multi-year planning effort to bring generational investment to a multi-block radius on the west side of Baltimore City.
“This community has been waiting for investment like this for decades and I am so proud that we are leading the investment for a new West Baltimore gateway,” said P. David Bramble, Managing Partner and co-founder of MCB. “I know how important it is to have retail and new residential in this area because this is my neighborhood – the place where I grew up and still live with my family. The level of excitement I feel to get started on this project cannot be overstated and I absolutely love the fact that MCB is proving, once again, that there are opportunities in Baltimore’s often neglected neighborhoods”
The three parcel, 8.1 acre redevelopment will be completed in two phases. Phase 1 will include 120 new townhomes; new infrastructure, including new roads to increase walkability and over $1 million of public right-of-way improvements along North Ave; more open space and green space including increased tree canopy, additional off-site trees within neighborhood, and a new neighborhood park. Phase 2 is slated for a grocery store to create new fresh food access, street level retail, approximately 200 apartments, including workforce housing and up to 100,000 SF office space.
“This has been a long time coming,” noted Mark Renbaum Principal of MLR partners, one of the developers on the project. “This project reflects an incredible collaboration among the Community, Baltimore City & State of Maryland officials, private parties, and so many connected stakeholders.”
“Atapco is enthusiastic about the opportunity to join Dave Bramble and all the other stakeholders in this very significant Madison Park North redevelopment, which adds to our long history of support for Baltimore City. We want to thank all of the local neighborhood associations along with the Neighborhood Impact investment Fund, State DHCD, Baltimore Development Corporation and City’s DHCD who all have played crucial roles in making this once in a generation redevelopment possible” noted Kevin McAndrews President of Atapco Properties, one of the partners in the project. “Secretary Holt leaned in early and that early commitment was crucial to getting us here today.”
The groundbreaking today officially starts a multi-year project projected to be completed in 2025.
MCB Real Estate , headquartered in Baltimore, is a privately-held, institutionally-capitalized commercial real estate development and investment firm. MCB invests across industrial, retail office, multi-family and mixed-use assets. For additional information visit www.mcbrealestate.com
MLR Partners is a privately held, Baltimore-based commercial real estate investment and management firm founded in 2011 that acquires, develops, manages, and invests in assets in the retail, mixed-use, office and industrial sectors. MLR Partners focuses on maximizing returns and transforming assets through multiple strategies with a focus on value–add and opportunistic investments.
Atapco Properties, Inc. is a wholly owned subsidiary of American Trading and Production Corporation, which was originally formed to consolidate, expand and diversify the business activities of the Blaustein family, the founders of the American Oil Company (AMOCO). Atapco Properties is active in Maryland, Indiana, North Carolina, Pennsylvania, and Virginia, developing state-of-the-art industrial, retail, residential, office and mixed-use projects with an emphasis on sustainability and green building standards. For more information on Atapco Properties, visit www.atapcoproperties.com.