BALTIMORE-Red Hill Ventures of Charlotte, NC is planning to spend approximately $4 million to renovate the 940 Madison Ave. office building here.
The project will the first new speculative office development in the city since the onset of the recession, according to the Baltimore Business Journal. The building was previously occupied by the United Baptist Missionary Convention Auxilary Inc.
Red Hill Ventures CEO Todd Collins says his firm spent $1.4 million to acquire the building in April 2013. Collins, who notes that he would prefer to fill the space with medical or legal tenants, adds, "It's going to be fundamentally brand new. The foundation and steel structure stayed, but everything from the roof to the mechanical systems to the facade will be brand new." See story in the Baltimore Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
