BALTIMORE, MD (July 27, 2017) –The Overlook at Roland Park, a 6-story, 148-unit luxury apartment building in Baltimore, is proceeding following Mayor Catherine Pugh’s ratification of Overlook’s official designation as a Planned Unit Development (PUD). The project will be located near the intersection of Falls Road and Northern Parkway in North Roland Park on a 12+ acre parcel of previously undeveloped land.
The estimated $40 million project, being developed by Blue Ocean, a local commercial real estate firm, received the support of two neighborhood associations. It was also supported by the City of Baltimore’s Planning Commission and its Land Use and Transportation Committee before receiving final approval from the City Council and the Mayor.
As part of an extensive agreement made with local neighborhood associations, Blue Ocean agreed to preserve more than half the site for forest conservation or ‘green’ space. The conserved area will be further enhanced with Blue Ocean’s proposed planting of hundreds of additional trees and shrubbery.
According to Jonathan Ehrenfeld, President of Blue Ocean, The Overlook at Roland Park is the first new apartment community in the area in the last several decades. Ehrenfeld says that it will have “a superb amenity package” that includes a swimming pool, fitness center, media room, and an indoor sports court. Residents will also have the added convenience of garage parking. A timeline for the start of construction has yet to be determined.
Ehrenfeld, whose firm manages 35 residential and commercial properties, believes the project’s location in close proximity to Mount Washington, Cross Keys and other destinations makes it particularly exciting. “I know I speak for everyone at our firm when I say how grateful we are for the support we’ve received, including from our neighbors, the community associations, the City Council and City Administration. We look forward to seeing The Overlook continue to evolve, and eventually become a great community asset for Roland Park and the City of Baltimore.”
Blue Ocean is active in syndicating, purchasing and managing commercial real estate assets in the multifamily, office, retail and industrial sectors. The company was founded in 2004. Its portfolio of properties is valued at over $350,000,000 and consists of approximately 3,500 apartment homes and 2,000,000 square feet of commercial space.