Plans are underway for the development of the Redwood Place apartment building in Maryland. Byrnes & Associates intends to convert a newly acquired 10-story Hotel in Baltimore, Maryland, into the 30-unit apartment. The hotel was closed in the latter part of last year.
Brad Byrnes and Kemp Byrnes of Byrnes & Associates are the leading development group for the $18.5 million Redwood Place project. The development group includes investors Jay Litke and Moe Krohn of Kove Group LLC. Meanwhile, Litke and Krohn will act as general contractors, overseeing all construction activities. Additionally, Brendan Ferrara of Carm Capital LLC will serve as both an investor and asset manager.
The group intends to commence the redevelopment immediately, with the aim of achieving full occupancy in 18 months.
Development plans for the Redwood Place apartment in Maryland
The Redwood Place development at 207 E. Redwood St will undergo minimal construction to achieve the required multifamily configuration. Especially since the building’s former use as a hotel still leaves behind certain design features which are relevant in residential properties.
According to Byrnes & Associates, renovations will focus mostly on adding kitchens and washers and dryers to the units. Furthermore, the lobby café will be transformed into a 3,300-square-foot restaurant. The new restaurant’s location will be at the intersection of Redwood and Calvert Street.
The Redwood Place property will inherit and incorporate certain amenities from the former hotel building. These amenities will include a fitness centre, banquet room and conference rooms. However, the project’s new ownership group is also planning to add a game room and storage space on the property.
Currently, the existing units of the former hotel building have high ceilings, large windows and bathrooms with glass showers. But they will be upgraded with modern fixtures, a kitchen area, wood and tile flooring, as well as dressing room-sized closets. Upon completion, the property will offer 400 to 800 square feet of living space.