Greystar Announces Groundbreaking of Its First Multifamily Development Project in Baltimore

BALTIMORE, Dec. 9, 2020 /PRNewswire/ -- Greystar Real Estate Partners, LLC ("Greystar") is developing Elan Brewers Hill, a 500-unit multifamily building in Baltimore, Maryland. The development team acquired a fully zoned and entitled 3.8-acre site, located within the Collective at Canton on Boston Street, from 28 Walker Development and broke ground on the project in October 2020 with expected completion in late 2022. This is Greystar's first development in Baltimore. 

Consisting of 500 high-quality residential units, the Class "A" multifamily development was designed by BKV Architects and offers prospective residents a number of attractive studio, one-, and two-bedroom floorplans ranging from 507 to 1,317 square feet. Elan Brewers Hill will also contain approximately 23,000 square feet of amenity space, providing future residents the most comprehensive and quality amenity package currently available in Brewers Hill.

Positioned near Canton Waterfront Park in Baltimore, the development is part of 28 Walker Development's Collective at Canton Master Plan (the "Collective"), a 12-acre mixed-use project that will be anchored by a Sprouts Farmers Market and 100,000 square feet of Class "A" office space.

"We are excited to see the development of the next phase of the Collective at Canton moving forward," said Colin Tarbert, president and CEO of the Baltimore Development Corporation.  "This major investment by a leading national real estate company is a key indicator that the Baltimore residential market is strong. It is fantastic to see yet another major opportunity zone investment taking place in the city."

John Beinert, Director of Development for Greystar added, "The renaissance of the greater Canton section of Baltimore has resulted in the influx of entrepreneurial-driven companies and young professionals, generating a new level of energy. We specifically targeted this area based on its long-term potential and have assembled an experienced team to execute our development plan. Baltimore supports a diverse array of industry sectors, and benefits from its proximity to Washington, D.C. Our team intends to provide best-in-class accommodation and our world-class services to the future tenants of Elan Brewers Hill."

The project's interior designer, EditLab, has curated an amenity program that seamlessly integrates with the development's three outdoor courtyards. Residents will also enjoy market-leading interior finishes within their apartment homes. Elan Brewers Hill provides easy pedestrian access to the surrounding neighborhood through the Collective's Rails-to-Trails path.

Elan Brewers Hill adds premium multifamily living space to 28 Walker's bustling Collective project, which includes the existing Canton Crossing, a 350,000-square-foot shopping center opened in 2013. Canton Crossing hosts several national retailers, including Target, Harris Teeter, Michaels, DSW, Old Navy, and ULTA. The center is also home to local restaurants such as Atwater's, Samos Greek Island Grill, Mission BBQ, Akira Ramen & Izakaya, and more. Additionally, Elan Brewers Hill residents are within a 10-minute walk of Canton Square, one of downtown Baltimore's premier nightlife destinations.

"The addition of a high-quality residential product in the Canton area will be of tremendous economic benefit to existing retailers and restaurants and will inject a higher level of vibrancy during both daytime and evening hours," says Mark Sapperstein, Chief Executive Officer of 28 Walker Development. "Elan Brewers Hill represents another important element of our vision to create an active and connected community where Baltimore residents live, work and play. This beautifully designed project complements the Collective's aesthetic identity and purpose, and we are confident that it will be a highly sought-after living destination."

About Greystar
Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. Headquartered in Charleston, South Carolina, Greystar manages and operates over an estimated $200 billion-plus of real estate in nearly 200 markets globally, including offices throughout the United States, United Kingdom, Europe, Latin America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing approximately 713,000 units/beds, and has a robust institutional investment management platform with approximately $37.2 billion of assets under management, including over $16 billion of assets under development. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.

About 28 Walker Development
28 Walker Development is a Baltimore-based fully integrated real estate company with a focus on smart urban infill development projects. The firm utilizes Smart Growth development principles to transform under-utilized sites into community-centric centers of economic growth and activity. 28 Walker is recognized for its transformational redevelopment of former industrial sites into thriving mixed-use destinations including McHenry Row and The Shops at Canton Crossing. For additional information, visit www.28walker.com. 

Media Contact: Danielle Clark
Director of Marketing – Communications
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SOURCE Greystar Real Estate Partners, LLC

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