A Massachusetts-based apartment developer has taken over a $40 million project to transform the blocks around Broadway Market in Fells Point into new housing and shops.
The Dolben Co. Inc. purchased the redevelopment site on the east and west sides of the 600 block of S. Broadway from a local developer in December and plans to start construction on 159 apartments and ground-level retail by April.
The project, Marketplace at Fells Point, is expected to take 18 to 20 months to complete, Drew Dolben, senior vice president of the Woburn, Mass.-based company, said Tuesday. The sale was first reported by bmoremedia.com.
The apartment project's former developer, South Broadway Properties LLC, plans to continue renovating the neighborhood's market buildings to create a centerpiece of the redevelopment.