Caves Valley Partners is continuing to expand its presence in South Baltimore, with the developer recently announcing the acquisition of a 5.2-acre parcel on S. Hanover Street right next to the interstate in South Baltimore.
The properties span the 1800 and 1900 blocks of the road, and are located just east of the Spring Garden Industrial Area and across I-95 from Port Covington. They currently house Middleton & Meads, a commercial truck and bus repair company, and a vacant warehouse. The former plans to relocate somewhere within the city limits in the next year, the developer said.
Caves Valley Partners’ new properties join a list of other nearby holdings that includes Cross Street Market, which is undergoing a $6.5 million renovation that nearly fell through this past winter, and Stadium Square, located just up the road along a three-block stretch that includes a six-story building at 145 Ostend Street.
“The completion of this assemblage is another example of CVP’s bullish outlook on the future of Baltimore City and our commitment to working with successful, locally-owned businesses to create positive outcomes for all sides,” said Arsh Mirmiran, a partner in the company, in a statement. “We are currently exploring a variety of development options for the site and regardless of final plans, we are confident the site has a bright future as a gateway to South Baltimore.”
Mirmiran said on a phone call Friday that he envisions the development becoming some mix of apartments, townhouses and retail space, though nothing is set in stone.
Caves Valley is also involved with some transformative projects north of the city limits. The company is one half of a developer team spearheading the $350 million mixed-use Towson Row development, and is planning to build a controversial Royal Farms gas station and convenience store at York Road and Bosley Avenue in Towson.
This story has been updated.