The Central Baltimore Partnership has acquired a long-dormant bank building at 1901 N. Charles St., owned for many years by restaurateur Tony Cheng, as part of its efforts to revitalize the Station North Arts District.
The community development organization announced that it purchased the 1940s-era building this month and plans to renovate it at an estimated cost of $3 million to $4 million for uses that will benefit the arts district. A purchase price was not disclosed and the sale has not yet been recorded in public land records.
Located at the northeast corner of North Avenue and Charles Street, the two-story, stone-clad building is a familiar sight to commuters waiting for the traffic light to change at that intersection.
Topped by a large billboard that bears messages such as “Black Lives Matter” and “Inspire Creativity,” and perennially tagged with graffiti, the building had become an eyesore and symbol of urban blight and deterioration. Built as a bank, it housed an Equitable Trust branch until 2003. One of its most recent uses was as a temporary political campaign headquarters for Larry Hogan.
State land records show the owner as restaurateur Anthony “Tony” Cheng with an address in Alexandria, Virginia, but officials say the property was in receivership prior to its purchase by CBP and the seller was Eagle Bank.
Part of the significance of the sale is that it represents the loosening of Cheng’s grip on the area, after years of buying high-profile Central Baltimore properties and then doing little or nothing with them. A similar strategy was followed along Baltimore’s Howard Street corridor by the late “Honolulu” Harry Weinberg and in Little Italy by former Orioles owner Peter Angelos with his purchase of the former Boccaccio restaurant building at 923-937 Eastern Ave.
The Charles Street property has 19,079 square feet of land area — about four-tenths of an acre — and surface parking for three dozen vehicles. Zoned for commercial use, the building contains 5,952 square feet of space above grade and a basement that has been prone to flooding. The land and improvements have an assessed value of $724,200 as of July 1, 2025, with more of the value ($381,500) coming from the land. Cheng bought the property in 2003 from Equitable Bank for $306,000, state records show.
‘Pivotal step’
Founded in 2006, the Central Baltimore Partnership (CBP) is a non-profit coalition of universities, businesses, governmental agencies and other organizations focused on revitalizing 11 Central Baltimore neighborhoods. Managing the Station North Arts District is one of its roles. The intersection of North Avenue and Charles Street is in many ways the heart of the area it serves.
By gaining control of such a highly-visible building at a key intersection, officials say, the partnership is now in a position to redevelop it as an anchor for the area’s transformation and a symbol of its progress.
“This acquisition marks a pivotal step forward in strengthening this important intersection at the heart of Central Baltimore,” said Jack Danna, CBP’s Director of Revitalization, in a statement.
With the acquisition complete, the partnership plans to restore and activate the building over the next several years.
Starting in 2026, CBP will undertake design and building stabilization efforts, including restoration of the building’s historic facades and activation of its parking lot for interim uses, including pop-ups, exhibitions and other community-driven activities appropriate for the arts district.
That work will be followed starting in 2027 by a comprehensive restoration of the property and development of a long-term plan to bring in tenants. Early estimates place the rehabilitation cost at $3 million to $4 million, with anticipated completion by 2029.
‘Positive impact’
The CBP worked with its real estate arm, the Central Baltimore Future Fund, to buy the Charles Street building. The effort was supported by the Neighborhood Impact Investment Fund; Maryland’s Department of Housing and Community Development and Department of General Services, and a local foundation. Peter Jackson of JLL and ddbWorkshop advised the Central Baltimore Future Fund.
The support from so many partners “underscores a shared belief in the future of Station North and its role as a cultural and commercial hub for our city,” Danna said.
“The purchase of 1901 North Charles Street marks a meaningful step forward for the Charles North community,” said David Lapides, co-president of the Charles North Community Association, in a statement. “This corner has been overlooked for far too long, and we’re thrilled to see the Central Baltimore Partnership step in to purchase the property. We look forward to the positive impact this project will have on both the block and the broader community.”
Kin to Bucky?
Nice piece! Thanks! I hope they do well with it for the sake of the neighborhood and for Baltimore.