Robin Godwin: Caves Valley Partners Purchases Hanover Street Warehouse Near Port Covington

Wednesday, January 25, 2017

Caves Valley Partners Purchases Hanover Street Warehouse Near Port Covington

Caves Valley Partners (CVP) has added to its South Baltimore portfolio of real estate with the acquisition of a warehouse at 1800 S. Hanover St. This property was previously re-zoned for 39 new townhomes. CVP purchased the white brick warehouse, which was previously the home of trucking companies, a law office, and a gym studio, from Green Door Properties.

Arsh Mirmiran of CVP told SouthBMore.com that it was a strategic acquisition because of its location as a “gateway to South Baltimore” and its close proximity to Port Covington, which will undergo a 266-acre, multi-billion dollar redevelopment by Sagamore Development. Mirmiran said CVP has not yet decided if it will do the previously-proposed townhome project or go in a different direction at this point. The warehouse is surrounded to the south and west by Middleton & Meads.

Green Door received zoning approval in December 2015 for the townhome project. This project had been in the works since the mid-2000s. It was to include three rows of 16 ft. by 40 ft. townhomes, each with a garage and a parking pad. With the project, 15 homes would have faced Hanover St., 10 homes would have faced Clarkson St., and 14 homes in between these two rows would have faced a new courtyard.

The South Baltimore Neighborhood Association (SBNA) has been working on improving the gateway at Hanover and Wells St. adjacent to this property. It supported the installation of traffic calming medians on the 1800 and 1700 blocks of S. Hanover St. and is working with the Neighborhood Design Center on a plan to add signage, light pole banners, and landscaping improvements along the gateway. The latter project will utilize Casino Impact Funds.

SBNA is also working with the Baltimore Office of Promotion & the Arts (BOPA) on the PNC Transformative Art Prize in hopes of adding a sculpture to the median on the 1800 block of S. Hanover St. It is also working with the owner of 1845 S. Hanover St. on a mural for the side of Bumper Globe.

CVP has been very active in South Baltimore developing 1111 Light Street, Riverside Wharf, and the former M&T Bank on Cross St. in Federal Hill. It is also constructing Stadium Square, a $275 million mixed-use development with 300,000 sq. ft. of office space on three city blocks of Sharp-Leadenhall and South Baltimore, and is undertaking a $6.5 million redevelopment of the Cross Street Market.