At Willowbrook Valuation, we are highly experienced when it comes to analyzing commercial real estate in the Mid-Atlantic region. Furthermore, our team is proud to explore both major urban centers and up-and-coming small towns like Frederick and Towson, MD. Last month, we explored D.C.’s vibrant “East End” community, and now we’d like to turn your attention to the Baltimore metro area. Mount Vernon and Midtown Baltimore are developing rapidly, and we expect that the area will have a lot to offer residents and business owners in the years to come.
Life in Mt. Vernon
With a growing population of over 5,500 people, Mt. Vernon provides the perfect combination of historic charm and modern sensibilities. Over half of its residents are 18-34 years old, which makes it a haven for college students, young professionals and culture enthusiasts. Walters Art Museum, The Maryland Institute College of Art, Meyerhoff Symphony Hall, and the George Peabody Library are just a few of the beloved cultural institutions nearby. However, you’ll also find a wide variety of businesses like medical and legal offices, shops, and publishing houses in Midtown Baltimore. John’s Hopkins Hospital is only a short ten-minute drive from the Mt. Vernon neighborhood.
Mt. Vernon and Midtown Baltimore are accessible areas, which makes them convenient for commuters and workers who rely on public transit. The Baltimore Light Rail, Metro Subway and key bus routes are all within easy reach, as is Amtrak’s Baltimore Penn Station, with service to New York City and Washington, DC. For residents that love getting around town by walking, there are few better communities in the area. The area is full of restaurants, grocery stores, and other essential stops. Additionally, locals and tourists love to stroll along Mt. Vernon Place to see the Washington Monument, which has been there for over 200 years and is set for its annual end-of-the-year holiday lighting.
The State of Commercial Real Estate in Mt. Vernon/Midtown Baltimore
Considering their proximity to so many attractions, it’s no surprise that Mt. Vernon and Midtown Baltimore are popular destinations. Earlier this year, Howard Chambers and SM+P Architects announced plans to construct apartments above historic carriage houses in Mt. Vernon. After many delays due to COVID-19, the project is now underway, and leading developers expect it to “inject new life” into the area. There has been a lot of promising updates to commercial real estate in Midtown recently, and this example is one of many. North of Mt. Vernon, Penn Station is undergoing major renovations. A space that previously belonged to the Grand Central nightclub is also being transformed into a brand-new office complex.
Hotel Ulysses, which just opened this fall, is sure to be another exciting gem that will attract people to the area. With its old-fashioned style and colorful history, the hotel pays tribute to the neighborhood’s peculiar and distinctive character.
Baltimore’s 2013 Master Plan for Mt. Vernon included development goals such as support for historic preservation; balanced interests of diverse stakeholders; and encouraging the growth of new attractions. Nearly ten years later, we can say with confidence that the city has stayed true to these goals and continues to make Mt. Vernon and Midtown Baltimore an appealing location for all.
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