National market report

February 03, 2011 12:25PM

From the New York February issue: The developer of HarborView, a waterfront resort community along Baltimore’s Inner Harbor, put up four undeveloped parcels of residential land for sale, according to Baltimore Business Journal. The sites, which were being prepared for construction before the downturn, are now being marketed by commercial real estate firm CB Richard Ellis. Baltimore businessman Richard Swirnow’s HarborView Property Development Co. is looking to find buyers for the sites, but will also consider offers from investors looking to become equity partners to help finance the project. The sites could increase the number of residential units in the area by more than 1,500, and according to Mike Muldowney, a broker with CB Richard Ellis, each parcel of land could sell for $20 million or more. “HarborView is one of the most successful waterfront communities in downtown Baltimore,” Muldowney said in a statement. “These parcels represent a unique opportunity as the last developable parcels of this project.” [more]