Part of Phase 1 of $350 million mixed-use project
Greenberg Gibbons announced today that “Phase 1” of Towson Row, the highly anticipated $350 million mixed-use destination, will open in August. Phase 1 includes the Altus student apartment building with 214 units as well as shops and an eatery located on the first level. Towson Row is being developed in partnership with Caves Valley Partners, creating the new gateway to downtown Towson, MD.
“We are excited to make this much-anticipated development a reality for the community,” said Eric Walter, Executive Vice President and Chief Investment Officer of Greenberg Gibbons. “This will be a vibrant and welcome addition that will finally connect uptown to downtown Towson.”
Altus student apartments, developed and managed by Gilbane Development Company, will be located on the corner of Susquehanna Ave and Towson Row. Altus is designed to provide students with a stylish alternative for living and modern amenities. The fully furnished apartment units feature private bathrooms connected to each bedroom. Altus is conveniently located within walking distance of Towson University’s campus and surrounding shops, restaurants, and entertainment. For more information about amenities and leasing, visit www.altusapts.com.
“Gilbane Development Company is excited to bring our “Next Level Student Housing” to Towson and to welcome TU students to Altus,” said Russell Broderick, Senior Vice President of Gilbane Development Company. “We are pleased to deliver Altus on time for the Fall semester and look forward to providing each student with a thriving, supportive community in which to live, learn, and grow.”
Located on the first level of the Altus building will be a 2,860-square-foot wine and spirits store, a 2,272-square-foot nail salon, and a 2,750-square-foot BurgerFi restaurant. Opening this August, BurgerFi will be the first of the project’s eateries in the building. The restaurant is one of the nation’s fastest-growing gourmet burger chains, recently recognized for serving the highest quality antibiotic-free beef. BurgerFi will offer a chef-inspired menu including premium craft burgers, an award-winning quinoa-based veggie burger, humanely raised Springer Mountain Farms chicken and fresh hand-cut fries, premium custard shakes and local craft beers. The Towson Row location will partner with Towson University to accept student ID as a form of payment. This will be BurgerFi’s second location in Baltimore County.
“Towson Row will bring renewed vibrancy to the region and the opening of Altus Student Apartments is a huge win for our local businesses, the university community, and all of greater Towson,” said Will Anderson, Director of the Baltimore County Department of Economic and Workforce Development. “Baltimore County looks forward to continuing to work with all our partners to see the site come to life in the weeks and months ahead.”
“Not only will this development create a vibrant new space in Downtown Towson, it will bring students closer to Towson University where they can easily walk to campus,” said Baltimore County Councilman David Marks. “The student apartments are already helping as we deal with the impact of the pandemic and the loss of student space on campus.”
“More than $1.7 billion in private and public development is underway within a quarter mile of TU’s campus — and that isn’t by accident,” said Towson University President Kim Schatzel. “As an anchor institution for Greater Baltimore, our world-class institution is both a developer of talented residents for our county, as well as a driver of the economy. In turn, our students, faculty and staff will benefit greatly from all that is coming to Towson Row.”
Towson Row is under construction on five acres between York Road, Towsontown Boulevard, Washington Avenue and Chesapeake Avenue. The 1.2 million-square-foot development, anchored by a 45,000 square foot Whole Foods Market, will include over 75,000 square feet of retail/restaurant space, 150,000 square feet of Class A office space, 720 student housing beds, 231 sophisticated apartment units, the adaptive re-use of the former National Guard armory building into Towson University’s StarTUp and a 220-room dual-flag hotel. Greenberg Gibbons will continue to provide updates on openings and timing for the project.
About Greenberg Gibbons
Celebrating over 50 years of success, Greenberg Gibbons is one of the Mid-Atlantic region’s premier developers of mixed-use, town center and retail properties. The company has developed and managed more than 5.5 million square feet. Its signature projects include the award-winning Hunt Valley Towne Centre, Annapolis Towne Centre, Waugh Chapel Towne Centre, Towne Centre Laurel and Foundry Row. For more information, visit www.ggcommercial.com.
About Gilbane Development Company
Gilbane Development Company is the project development, financing and ownership arm of Gilbane, Inc., a private holding company in its fifth generation of family ownership and management. Gilbane Development Company provides a full slate of real estate development and project management services. Completed projects incorporate every aspect of real estate including student housing, multifamily, residential communities, mixed-used developments, corporate headquarters, healthcare facilities, operational | data | distribution centers, R&D | manufacturing facilities, and many types of facilities delivered through public-private partnerships. Through its trademarked “Next Level of Student Housing®” program, Gilbane Development Company has completed or currently has in development over 16,000 beds of student housing. To learn more, visit www.gilbaneco.com/development or call 1-800-GILBANE.
