Board of Public Works Approves UB Midtown Development
University, Developer to Begin Mixed-Use Project in '08
September 12, 2007
Contact: University Relations
The Maryland Board of Public Works today gave approval to The Fitzgerald at UB Midtown, a significant public-private development on the University of Baltimore campus that will bring retail space, market-rate apartments and a new 1,100-space parking garage to an undeveloped parcel near the center of the growing urban campus. The project—potentially the largest of its kind in central Baltimore in at least 10 years—involves a partnership among the University, The Bozzuto Group and the Gould Property Co.
The first phase of the University's UB Midtown development, The Fitzgerald will create a major new retail and residential attraction on the site of UB's largest surface parking lot, the 532-space Bolton Yard lot. Project cost is estimated at more than $75 million. The 4.23-acre property is located at Mt. Royal Avenue and Oliver Street. The agreement includes a long-term ground lease that will provide the University with a percentage of the revenues generated by the project.
Mixed use development of the site, with its proximity to the heart of the Mt. Vernon Cultural Arts District, will link the UB campus to the Maryland Institute College of Art and the Bolton Hill neighborhood, and capitalize on the growing market demand for retail and residential opportunities in the area.
As proposed, the project will consist of more than 240 market rate apartments, 14,000 square feet of street-level retail space, and a garage that will increase parking capacity for UB students and employees by one-third—a vital addition for this non-residential campus set in a busy urban corridor.
Groundbreaking for The Fitzgerald at UB Midtown is set for spring of 2008.
The University of Baltimore is a member of the University System of Maryland and comprises the School of Law, the Yale Gordon College of Liberal Arts and the Merrick School of Business.