An MCB Real Estate-led partnership has received the final $6.3 million in financing for the renovation of The Markley, a historic early-20th-century building in Baltimore, Maryland.
The property is located adjacent to The Enolia, a student housing development that is master leased to Morgan State University in Baltimore City. MCB, together with Hamilton-Lauraville Main Street, OPAL Companies, and Reimagine Development Partners, are transforming the site, which was originally built as a general store, family residence and warehouse, into a mixed-use historic development.
The project will consist of approximately 900 square feet of street-level retail and 19 residential units. Constructed in 1912 and originally conceived as a general store, the building also served as a warehouse for the Markley family until 1955. Vacant for more than 10 years, the property was acquired by MCB as part of a larger assemblage that included the Enolia.
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