Mark Keener, Ryan Potter, Adam Block
Gallagher represented Orlando, Florida-based developer ZOM in the acquisition and development of Banner Hill Apartments, a $90M apartment project consisting of 349 residential apartments and a 333-space underground parking garage. A first-floor amenity level will include an e-lounge, fitness center, landscaped courtyards, and a resort-style pool. The project is located in the Federal Hill/Otterbein neighborhood of Baltimore and is within walking distance of a MARC station, shops, restaurants, the Inner Harbor, the CBD, Oriole Park at Camden Yards, and Ravens Stadium.
Among other contributions, Gallagher assisted in negotiating complex joint development and reciprocal easement agreements with the neighboring landowner, which permitted an existing plaza and underground parking garage to be rebuilt and greatly improved. In addition, Gallagher facilitated a complicated vertical subdivision of the property and provided advice to ZOM regarding organizational structure issues.
The Banner Hill site was previously owned by the University of Maryland Medical System and operated as a specialty hospital. The first units and amenities will deliver in mid-2017 and the project should be completed by early 2018. Gallagher is pleased to have assisted ZOM on the Banner Hill project, ZOM’s first in the Baltimore area.