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Two high-profile developers join Port Covington team to take over next phase of development

Two developers of high-profile urban projects in major U.S. cities have joined Sagamore Ventures’ effort to create a mini-city in South Baltimore’s Port Covington and have taken over the next phase of development.

MaryAnne Gilmartin's Firm to Redevelop Chelsea Corner

MaryAnne Gilmartin and a rendering of 335 Eighth Avenue (Getty, COOKFOX Architects) MaryAnne Gilmartin’s development firm struck a deal to redevelop a corner site on Eighth Avenue in Chelsea.  MAG Partners was chosen to enter into a long-term lease with a sprawling, multi-block affordable housing complex for a dilapidated retail building at 335 Eighth Avenue, The Real Deal has learned. The firm plans to redevelop the site into a mixed-income apartment building with a grocery store and community space. Construction is expected to start in 2022. The seven-story project will qualify for the Affordable New York program, with 30 percent of the approximately 200 set aside as affordable.

Post-COVID, the city center becomes public square (and survives)

Post-COVID, the city center becomes public square (and survives)

Seven Must Reads for the CRE Industry on March 5, 2021