Projects

Mill No. 1

The No. 1 Mill project is the historic adaptive reuse of the 19th century mill building into a mix of apartments, offices and retail. The four-story brick building, which dates from approximately 1873 to 1918, is listed on the National Register of Historic Places. The Italianate building served as headquarters for Mount Vernon-Woodberry Mills, once one of the world’s largest producers of cotton duck.

Straddling about a third of a mile stretch along a pristine section of the Jones Falls stream in northern Baltimore City, the site offers a unique but central location. It offers access to the Jones Falls expressway, light rail station and Baltimore Amtrak Station and proximity to the John Hopkins University and Maryland Institute College of Art Campuses.

Mt. Vernon Mill’s location along the Jones Falls stream provides the unique opportunity to create a “green” center focused on environmental issues including stream restoration, land conservation and ecological enhancements so important to the tributaries of the Chesapeake Bay. This green center will include an on-site classroom providing educational opportunities focused on the restoration of Baltimore’s waterways, marketing to office tenants whose work is focused on environmental issues, and a partnership with a neighborhood Baltimore City charter school to provide educational and internship opportunities to students.

Specifications

Development Type
96 Residential rental units, 40,000 SF office, 9,000 SF rental
Number of Units
92 (20% affordable)
Type of Housing
Rehab
Development Cost
42,000,000
Location
Baltimore, Maryland
Project Start
December 2011
Project Complete
June 2013
Development Role
Financing Consultant
Unit Mix
96 Residential rental units, 40,000 SF office, 9,000 SF rental
Architect
Alexander Design Studio
Contractor
Kinsley Construction
Developer
Terra Nova Ventures
Owner
Terra Nova Ventures
Investor
Bank of America
Lender
Bank of America

Mill-No-1-Project-Update-92112

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What Others Are Saying About Us

We have worked on numerous types of financing with Chesapeake Community Advisors over the past ten years.  They have ranged from FHA mark-to-market loans to Fannie Mae financing with various levels of renovations on  developments across the country.  What we have found is that there are very few advisors and partners like CCA who have the expertise to guide a deal literally from day one when looking at the feasibility of a deal  through to the construction and lease-up of a property.  We value working with CCA for their knowledge, ingenuity, dedication and hard work to come up with the best possible outcome for their partners and residents.