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A rendering of The Flats at Eutaw Place, a market rate, 62-unit apartment building being developed in Bolton Hill.
A rendering of The Flats at Eutaw Place, a market rate, 62-unit apartment building being developed in Bolton Hill. (Handout)

Developers have begun construction on a 62-unit, market-rate apartment building on a corner in Bolton Hill formerly used for parking.

Somerset Development Company LLC, New Community Partners LLC and the nonprofit Memorial Apartments Corporation are building The Flats at Eutaw Place.

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It’s the $14.2 million, second phase of construction on a 3.6 acre site at the corner of Eutaw Place and McMechen Street in Baltimore. In the first $26 million phase, Memorial Apartments, with 266 affordable housing units for seniors, were renovated and renamed Linden Park Apartments.

The Flats project is funded by a $11.7 million loan from Wells Fargo Bank that is federal insured under a housing program that aims to facilitate building or improving apartments for moderate-income families, elderly and the handicapped, developers said.

It also will benefit from a city property tax program for building apartments meeting energy efficiency standards.

Officials with Somerset, a Washington, D.C.-based developer with a Baltimore office that works on revitalization projects, said The Flats at Eutaw Place will fill in a “missing tooth” that will help create a mixed-income community.

The officials said the new apartment building will include a gastro pub on the first floor and offer a fitness club, roof-top terrace and dog park. It’s slated to open in spring 2019 and developers aim to attract students from nearby Maryland Institute College of Art, young professionals and empty nesters.

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