Over the past ten years Downtown has become a diverse neighborhood with residents ranging from empty-nesters and large families to graduate students and young professionals.
Over 42,350 residents live in Downtown Baltimore. Apartment buildings are currently at a 94.8% occupancy rate, and Downtown developers are working to keep up with demand. While a few cranes paint our skies as indicators of change, take a closer look at former office buildings. Developers are continuing to convert office spaces into high-end residential towers. Downtown is the City’s fastest-growing neighborhood, and new housing stock is in high demand.
Downtown Partnership maintains a database of current and upcoming housing projects and works with developers seeking opportunities to find existing buildings, assembled parcels, and pad sites appropriate for housing. Recent Residential Conversions
- 10 Light Street in Charles Center
- 26 S. Calvert in Charles Center
- 520 Park Ave in Bromo Arts District
900 market rate units were delivered in 2015 alone, with other exciting projects in the pipe-line.
Many architecturally and historically significant buildings have been developed to keep pace with Baltimore’s 24 million annual visitors who require a variety of accommodations. In 2015, 293 hotel rooms were under construction, with over 472 more to be added in the next six years. Downtown Baltimore’s occupancy rate is higher than those of both the region and nation, as tourists and professionals find themselves drawn here for work or leisure.
An asset to developers, Downtown Partnership has experience navigating the City’s review and approval processes, including design review and permitting. The Partnership connects developers with Downtown architects and contractors, and promotes member companies’ hotel properties.