Y&M Development, a multi-national commercial and residential developer, has broken ground on a new 18-unit townhouse community in Fells Point.
Called Ropewalk Village at Fells Point, the community is on the grounds of a once-thriving 19th century rope manufacturing operation. The houses will sell for $550,000 each, for a total value of about $10 million.
“There is a little spark of historic charm to it,” said Yonah Zahler, chief executive officer of Y&M Development. “We went back in history to see how old homes were built so the homes would have the charm of old Baltimore row homes. As a house it has a lot of the amenities that would otherwise be upgrades.”
Three of the 18 houses are currently under construction, and the entire project is slated for completion within the next year, Zahler said. One of the major features of the homes will be a light-steel framed construction designed by Genesis, replacing the typical wood framing.
“This is the first time this light-steel product has been used in this area for a residential project,” said Neil Tabor, chief executive of Ashley Homes, Ropewalk?s construction manager. “It?s basically all-steel framing construction that eliminates all the settlement problems and termite issues [associated] with wood framing. It also takes about 46,000 pounds of fuel out of the house, making it more fire resistant.”
With the steel design, the homes are also better equipped to withstand hurricanes, seismic forces and heavy snow, Tabor said.
Located just south of Pratt Street, Ropewalk Village is bordered by the 100 block of Regester Street and Narroway Street.
Zahler added that he expects the community?s close proximity to the waterfront, Johns Hopkins Hospital, Patterson Park and Canton to be a strong selling point for the community.
“These are full-fledged, high-style homes [that are] well-priced for what they offer, and it?s in a convenient location,” he said.
More information
» A sales center has recently opened on the property headed by RE/MAX Sails, the Willner Chirissomalllis Group, which is headquartered in the new Natty Boh building in Canton. For more information on the community, visit www.ropewalkvillage.com.
