BALTIMORE—Zom Holding Inc. plans to build a 350-unit apartment building near the Inner Harbor. The Orlando, FL-based developer is reportedly in talks with the owner of the former University of Maryland Specialty Hospital on how it could build the project on the more than two-acre parcel.
Zom is looking to build a six-story apartment building at 601 S. Charles St. and is in talks with the Abell Foundation, which purchased the former hospital for $7.5 million. The foundation purchased the property with the intent to establish a charter school on the property. Zom could potentially acquire the former hospital building from Abell or enter into a partnership with the organization on the project, according to the Baltimore Business Journal.
“We are one of the better-located projects in the pipeline, so we believe it’s a good investment opportunity,” says Andrew Cretal, senior vice president for Zom. “We like the Baltimore market, particularly the Inner Harbor-related projects. We feel that the trend is for people to move to downtown and be a part of what the Inner Harbor has to offer.”
Zom recently completed a 191-unit mixed-use apartment project in Arlington, VA and is building a 187-unit project at 1200 N. Irving St. in Clarendon, VA. See story in the Baltimore Business Journal.