K. Hovnanian Homes is planning to develop a community of townhomes in Dundalk on the land that used to be the North Point Drive-In theater, which closed three decades ago, and more recently served as an outdoor flea market.
The 108-unit development will be called The Townes at North point, according to St. John Properties Inc., which in partnership with N.P. Investment LLC, sold K. Hovnanian the 11-acre parcel of land at 4001 North Point Boulevard for $2 million.
K. Hovnanian, one of the nation’s largest home builders, plans to break ground on The Townes later this year.
“After considering numerous configurations for this site, which functioned as among the last remaining drive-in theaters operating in the state, we concluded that the best use existed in a residential environment, complemented by retail amenities,” said Jerry Wit, senior vice president of marketing for St. John Properties, in a statement.
St. John Properties, based in Windsor Mill, and N.P. Investment LLC plan to build a 10,000-square-foot retail building next to the residential development along the four-lane divided road. A second commercial site on the boulevard is still available for sale or lease.
More than 26,000 vehicles pass the site daily, St. John Properties said.Have a real estate news tip or experience to share? Email me at email@example.com.