New Towson Row Development Partner Announced

TOWSON, MD — The gears are turning on the Towson Row project again. After months with no activity on the site, envisioned as a shopping and housing mecca at the southern gateway to Towson, project leaders have announced a new development.

Greenberg Gibbons and Caves Valley Partners announced Monday that they are partnering to become co-developers of the Towson Row project, which will include a central plaza area, lively streetscape, office space, student housing, luxury residences and a hotel.

Caves Valley will work on the office part of the project, according to the announcement, while Greenberg Gibbons will handle the residential and retail components.

“We are excited to partner with CVP on this transformational landmark project and facilitate the vibrant revitalization of downtown Towson,” said Brian Gibbons, chair/CEO of Greenberg Gibbons.

On 5 acres near York Road, Towsontown Boulevard, Washington Avenue and Chesapeake Avenue, Towson Row will reportedly encompass the following elements:

• 150,000 feet of Class A office space
• 300 high-rise student apartments
• 250 luxury high-rise residences
• 100,000 square feet of retail/restaurant/grocery space
• Hotel

Demolition work was completed in fall 2015 at the site. Then Caves Valley Partners, the Towson-headquartered developer which has been overseeing Towson Row, hit rock in late 2016 while trying to build.

Now, developers will collaborate with Baltimore County and community officials to revise plans in such a way that "slightly reduces density and addresses design and geotechnical concerns that have caused recent delays," Caves Valley Partners and Greenberg Gibbons said in a joint statement on Monday.

"While there are obstacles to overcome and challenges ahead, we are confident that our joint venture has the experience, capital and commitment to move this project forward," Gibbons said.

Greenberg Gibbons, based in Owings Mills, has worked on nearby projects such as the Shops at Kenilworth.

“As a local company that really knows this market, we see tremendous opportunity to create a positive economic impact while bringing exciting benefits to the community," Gibbons said in a statement.

The announcement of the partnership between Greenberg Gibbons and Caves Valley Partners came the day before the Baltimore County Council will hold a work session on a bill that would allow the county to reopen the sidewalks around construction projects that have been dormant for six months.

According to the statement from the developers, they plan to start construction by the end of the year.

• Towson Row Standstill Leads To Sidewalk Bill

Image courtesy of Greenberg Gibbons/Caves Valley Partners.