{"id":1004165244,"date":"2017-01-27T03:58:48","date_gmt":"2017-01-27T11:58:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004165244"},"modified":"2020-05-18T15:05:00","modified_gmt":"2020-05-18T23:05:00","slug":"baltimore-welcomes-new-mixed-use-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/baltimore-welcomes-new-mixed-use-tower\/","title":{"rendered":"Major B\u2019More High-Rise Breaks Ground"},"content":{"rendered":"<p>By Gail Kalinoski<\/p>\n<p><strong>Baltimore<\/strong>\u2014Construction has begun on One Light Street, a 780,941-square-foot mixed-use project in Baltimore\u2019s Inner Harbor neighborhood that is just one of several developments in the city\u2019s CBD expected to be completed within the next two years.<\/p>\n<div id=\"attachment_1004165248\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/One-Light-Street.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004165248\" data-attachment-id=\"1004165248\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/baltimore-welcomes-new-mixed-use-tower\/one-light-street\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/One-Light-Street.jpg\" data-orig-size=\"799,600\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"One Light Street\" data-image-description=\"&lt;p&gt;One Light Street &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;One Light Street &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/One-Light-Street.jpg?w=799\" class=\"wp-image-1004165248 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/One-Light-Street.jpg\" alt=\"One Light Street \" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/One-Light-Street.jpg 799w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/One-Light-Street.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/One-Light-Street.jpg?resize=768,577 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004165248\" class=\"wp-caption-text\">One Light Street<\/p><\/div>\n<p>Donohoe Construction Co. of Bethesda, Md., is the general contractor on One Light Street, a 28-story glass tower that will be a prominent addition to the Baltimore skyline. The project, several years in planning, is being developed by Madison Marquette, a Washington, D.C.-based developer and operator of mixed-use real estate, and Reston, Va.-based developer and adaptive-reuse specialist Metropolitan Partnership. Metropolitan is also the owner and developer of nearby 10 Light St., a 34-story apartment building that opened last year after the firm redeveloped the historic Bank of America building.<\/p>\n<p>One Light Street is expected to be completed by December 2018. The building will feature nine floors of Class A office space, 10 floors of luxury apartments with 280 units, ground-floor retail and a parking garage with 646 spaces. Amenities will include a fitness center and rooftop pool and lounge.<\/p>\n<p>Madison Marquette said on its website that 66 percent of the office space is preleased. M&amp;T Bank was reportedly interested in leasing space at the building as the anchor tenant but has not confirmed if it is moving offices there. However, a rendering on architect AECOM\u2019s website has the M&amp;T logo atop the glass tower.<\/p>\n<p>The parking garage will have seven levels of above-ground parking and two that are below grade. In July 2014, the Baltimore Development Corp. approved the use of $28 million in parking revenue bonds for the construction of the garage that would also serve residents of 10 Light St., the <em><a href=\"https:\/\/www.baltimoresun.com\/business\/real-estate\/wonk\/bal-10-light-street-developer-proposes-new-project-20140724-story.html\" rel=\"nofollow\" target=\"_blank\">Baltimore Sun<\/a><\/em> reported.<\/p>\n<p>One Light Street will be one of several projects in the city to deliver new office product within the next two years in a development pipeline described as \u201crobust\u201d by JLL in its Office Insight Baltimore|Q4 2016 report. JLL noted that new deliveries topped one million square feet in 2016 for the first time and at the quickest rate since 2012.<\/p>\n<p>In its Multifamily Spring Report 2016 released in May, Yardi Matrix stated, \u201cBaltimore\u2019s multifamily market has lagged national growth in recent years, but positive signs are providing hope.\u201d The report noted demand has increased as employment in the region has grown. Yardi Matrix pointed to the \u201cemergence of downtown Baltimore\u201d as a \u201c24\/7 city where Millennials and Generation X households want to live\u201d and developers have been ramping up construction to meet the demand.<\/p>\n<p>One Light Street isn\u2019t the only mixed-use development planned for the Inner Harbor area. In November, ground was broken for <a href=\"https:\/\/www.commercialsearch.com\/news\/bozzuto-breaks-ground-on-charm-city-mixed-use-project\/\" target=\"_blank\">Liberty Harbor East,<\/a> which will have 317 residential units and a Whole Foods Market store when it is completed in early 2019.<\/p>\n<p>Questar Properties is building 414 Light St., a 44-story tower with 394 luxury units and almost 21,000 square feet of retail space expected to deliver by March 2018. NGKF was appointed the exclusive leasing agent for the retail space in October.<\/p>\n<p>The Baltimore City Council approved a $660 million public financing package in September that will help the planned $5.5 billion mixed-use <a href=\"https:\/\/www.commercialsearch.com\/news\/baltimore-city-council-oks-port-covington-project\/\" target=\"_blank\">Port Covington<\/a> waterfront development move forward. Sagamore Development is transforming an industrial peninsula in the Patapsco River into 15 million square feet of commercial space that will include a new headquarters for the Under Armour sports apparel company. Considered one of the biggest urban renewal projects in the United States, the development will also include offices, homes, stores, restaurants and about 40 acres of open space and parks and take more than two decades to build out.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Madison Marquette has teamed up with Metropolitan Partnership to develop the 28-story tower at One Light St., in the city\u2019s Inner Harbor neighborhood. <\/p>\n","protected":false},"author":1068,"featured_media":1004165248,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1579,21782,21808,11,21752,21742,21747],"tags":[33671,33672,33673],"class_list":["post-1004165244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-baltimore","category-development","category-featured","category-midatlantic","category-mixed-use","category-latest","category-office","tag-madison-marquette","tag-metropolitan-partnership","tag-one-light-street"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. 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