Announces Partners for Student Housing, Hotel Components of Mixed-Use Destination
Greenberg Gibbons held a construction kick-off celebration today for Towson Row ? the $350 million mixed-use destination and new gateway to downtown Towson, MD. The company also announced that it has selected Gilbane Development Company to build the student housing portion of the project and Shamin Hotels to develop the hotel.
“Towson Row is the centerpiece of downtown Towson’s transformation,” said Baltimore County Executive Don Mohler. “With over $1 billion in new private investment in downtown Towson, more people are living here, more people are visiting here, and more students are learning here.”
Towson Row will be built on five acres between York Road, Towsontown Boulevard, Washington Avenue and Chesapeake Avenue. The 1.2 million-square-foot development will include over 100,000 square feet of retail/restaurant space, 150,000 square feet of Class A office space and 250 luxury high-rise residential units. Greenberg Gibbons is leading the development in joint venture with Caves Valley Partners. Gilbane, which has developed state-of-the-art student housing for over 120 colleges and universities, will build 300 units student housing units for the project. Shamin Hotels, a hospitality industry leader that owns, operates and develops hotels under Hilton, Marriott, Intercontinental, Choice, Starwood and Hyatt brands, will develop the new hotel.
“Towson Row will be a transformational project for this community and Baltimore County,” said Brian Gibbons, chairman and CEO of Greenberg Gibbons. “It will be a gateway to Towson, bridging downtown Towson to the university, and creating a new heartbeat and fresh energy right here in the center of this community.”
Towson Row also brings significant economic benefits to the people of Towson, Baltimore County and the larger region. The project is anticipated to generate $220 million in annual business sales, create 5,500 jobs (2,000 permanent jobs and 3,500 construction jobs) and, when fully occupied, generate $92 million in annual employee compensation.
At the kickoff celebration, Greenberg Gibbons also announced that it has purchased and will adapt the historic armory building on Washington Avenue located adjacent to Towson Row. The current vision for this property is to create a multi-use, innovation hub that attracts creative and entrepreneurial enterprises.
Over the coming months, Greenberg Gibbons will continue to share updates on the look and style of the development with the community, as it simultaneously moves forward on making improvements to surrounding roads, sidewalks and other infrastructure. The developer estimates that the hotel and student housing components, both of which will include retail, will be completed in summer/fall 2020.
About Greenberg Gibbons: Celebrating 50 years of success, Greenberg Gibbons is one of the Mid-Atlantic region’s premier developers of mixed-use, town center and retail properties. The company’s portfolio includes more than 5.5 million square feet of existing and new development. Its signature projects include the award-winning Hunt Valley Towne Centre, Annapolis Towne Centre, Waugh Chapel Towne Centre, Towne Centre Laurel and Foundry Row. For more information, visit www.ggcommercial.com.
