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Group led by Towson-based firm purchases downtown Towson property

A group led by Caves Valley Partners, the Towson-based development company behind the renovation of the Towson City Center building, has purchased a swath of land between West Susquehanna Avenue, Washington Avenue, and West Chesapeake Avenue in downtown Towson.

Athan Sunderland, executive vice president of Pinkard Properties, said the group purchased the land, though he did not specify which properties had been obtained or the total acreage of the acquisition.

As far as the group's plans for development, Sunderland only said "it is a very exciting project."

Sunderland said Pinkard Properties will manage the property.

County zoning records indicate the property is zoned BM-CT, a classification that allows for major retail, business, and office space in town centers.

Ellen Kobler, a spokeswoman for Baltimore County, said the county is aware of the purchase, but has little information beyond that.

"However, given the success (Caves Valley Partners) has had with Towson City Center, this is certainly exciting news for downtown Towson," Kobler said.

Councilman David Marks, who represents the 5th District including Towson, said Caves Valley Partners has been putting the purchase together for several months.

"When everything is finalized, it has the potential to be a transformational project for Towson," he said.

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