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BALTIMORE-A grand opening event has officially marked the conclusion of the redevelopment of the Munsey, a 146-unit luxury multifamily property. Developer Struever Bros. Eccles & Rouse Inc. took on the task of orchestrating the rebirth of the towering structure, which had been originally conceived in 1918 as the home offices of the Baltimore News. SBE&R marketing manager Mikey Monaghan tells GlobeSt.com that the project cost $27 million to realize. SBE&R acquired the then-vacant building in 2001 for $2.2 million.

Located at 7 N. Calvert St. in the city’s Central Business District just blocks from the popular Inner Harbor area, the Munsey is an 18-story beaux-arts style high-rise–one of the first such towers to rise up Downtown after the devastating Great Fire of 1904. In an added historical note, the building became the site of the first presidential radio broadcast when President Warren G. Harding hit the airwaves in 1922 via radio station WEAR, a tenant in the building.

In addition to the loft-style residential units, SBE&R’s reincarnation encompasses a total of 226,000 sf, including 4,300 sf of ground-level retail space that is presently 100% leased to Asian noodle restaurant Suzie’s Soba, sandwich shop Roly Poly and Coffee Coffee. “Our leasing numbers prove exactly what we thought when we acquired this building–that there is a great need for high-rise residential options in the heart of Downtown Baltimore,” says SBE&R partner Ted Rouse. “This is our contribution in helping Baltimore City’s CBD achieve a 24-hour thriving city where people work, shop, play and live.” The property, managed by Bozzuto Management Co., also offers corporate housing suites through Oakwood Worldwide.

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