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Project Highlight - Case Study

 

Alex Brown & Sons Parking Garage - Baltimore, Maryland

Serving as the Baltimore Development Corporation's (BDC) real estate advisor, METROVENTURES provided advisory services and predevelopment analyses for a 400-space parking garage in downtown Baltimore. This project was in support of the BDC's efforts to satisfy the requirements of Alex Brown & Sons, a major corporate office tenant. METROVENTURES provided economic analyses and investment feasibility analyses as well as conceptual design alternatives for the 120,000-square-foot garage, including detailed development cost budgeting and preliminary scheduling. Additionally, METROVENTURES provided an implementation strategy that resulted in the acquisition of seven commercial properties within a very compressed timeframe.

METROVENTURES' predevelopment analysis was used by the BDC as justification for bond financing commitments of $8 million to the project. The overall project cost, inclusive of property acquisition and relocation, was approximately $10 million.