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From the early 1900s to 1970, the brick building at 601 E. Pratt St. was a power plant fueling Charm City’s streetcar system. Today, electricity is no longer produced in the building, but that doesn’t mean it isn’t a hub for commerce. A Hard Rock Café and Barnes and Noble sit on the first floor, drawing office workers and visitors to Baltimore. But it’s on three floors upstairs where the real money is made. That’s home to the Cordish Cos.
by Les Shaver
Front Page
In a state where suburban sprawl and gated housing developments are more common than traditional neighborhood developments, Port St. Lucie, Fla.-based Core Communities has designed a master-planned community where connectivity and walkability are paramount.
Before New York’s Hamptons attracted wealthy homeowners and chic celebs, Long Branch, N.J., ranked as one of the country’s premier summer resorts with five miles of Jersey shoreline. Seven U.S. presidents vacationed there and attended services at an 1879 Episcopal church, which became known in their honor as the Church of the Presidents. Winslow Homer depicted its beach in his art.
“Underwriting benchmarks, guarantor requirements, partner appetites, and pricing are constantly changing,” says the vice president of finance for the Miami-based developer of affordable housing. “Recent tightening of conventional banks’ regulations and internal underwriting standards have made borrowing from them expensive and practically infeasible. Freddie Mac and Fannie Mae are among the very few options with somewhat predictable executions still available.”
