The land between West Susquehanna Avenue, Washington Avenue, and West Chesapeake Avenue in Towson has been acquired by a group led by Caves Valley Partners, according to BaltimoreSun.com.

Athan Sunderland, executive vice president of Pinkard Properties, described the group's plans for the site as "very exciting." Pinkard Properties will manage this property, which Councilman David Marks said has "the potential to be a transformational project for Towson."

SEE: Caves Valley Partners Buys Swath of Land in Downtown Towson