Camden Place Apartments, located at 612 Washington Boulevard, is currently a 28,600 square foot vacant building that sits in a prime location in Downtown Baltimore City. This building is in the Ridgely’s Delight neighborhood, which is a nice, reasonably priced neighborhood in a great location within the city. This project will be an adaptive-reuse of a 1920 historical building, and will include the construction of twenty-four new residential units. The unit mix will contain twelve (12) studio units, six (6) one-bedroom units and six (6) two-bedroom units. The building will have first floor retail units, including seven (7) reasonably sized shops and a leasing/management office that will serve the residential units. The project’s basement has a lowered ceiling that will require no excavation and has adequate space for (Camden Place) mechanicals. The original brick building sports a beautiful two-tone brick façade with a decorated cornice. The rear of the building sits on Portland St. and has a covered portico running along the street, ideal for outdoor seating or shopping. The building also runs along an alley that connects to a central courtyard that is wrapped by the building and provides a private outdoor experience for residents. The exterior of the building will remain mostly unchanged, based on current condition as well as the historic tax credits requirement. The interior of the building is mostly gutted, with no interior walls remaining and some flooring and outer wall finishes requiring removal before construction. The building is currently being
offered at $1,350,000, which brings the unit price to $56,250. The advertisement for the building is touting a “tremendous price reduction for quick sale”, which will help accommodate the offer price of $850,000, or $35,417 per unit. The likely purchase price is somewhere in the middle, estimated to be $1,100,000, making the unit price $45,833.