A developer plans to build a 62-unit apartment building with ground level shops downtown now that city’s officials have approved sale of the Gay Street properties near Power Plant Live.
LRP Guardian House LLC will pay $1.24 million to the city for the buildings at 17-23 South Gay Street and 10 South Frederick Street, according to the Baltimore Development Corp., the city’s economic development organization.
The city’s Board of Estimates approved the sale Wednesday. The BDC had chosen the developer’s plan from six submitted after the agency requested proposals in 2017. As part of the proposal, 20 percent of the units will be available to lower income tenants.
BDC officials said the project will inject new vitality into an underutilized area of downtown.