The construction project at the corner of Water and Gay streets in Baltimore will yield 312 upscale condominiums when it is completed in the fall of 2007.
The developer, Bush Construction Corp., has already sold two-thirds of the “414 Water Street Condominiums,” which range in price from the low $200,000s to $600,000, said Andrew Viola, vice president and regional manager of the Williamsburg, Va.-based developer. Some of the units feature harbor views and two bedrooms, a den and 2.5 baths.
Bush is a first-time developer in Baltimore, the kind Mayor Martin O?Malley and the Baltimore Development Corp. have been trying to attract for years.
“We?re looking to do more projects in Baltimore,” Viola said, adding he believes that the city is in the middle of a renaissance.
Each unit will have between 650 square feet and 1,460 square feet of space. What makes this project different than most is that the units will be heated by gas rather than electric heat. The condos will also have on-site parking available.
“There will be 1.2 parking spaces per unit at market prices,” Viola said.
Since the early 1950s, the developer has built more than 20,000 homes along the Eastern Seaboard.
