South Baltimore is getting a facelift as a local development group has announced plans to convert an old warehouse into 60 upscale apartments. This joint venture, between Poverni Ventures LLC and Management Restoration Service LLC, will include spending about $10 million to turn the building into Heath Street Lofts. Construction is set to begin in the spring and to be completed for fall 2015.
The property sits near Federal Hill, which is a popular area for the city’s young professionals. Eugene Poverni, the principal and founder of Poverni Ventures, said that a one-bedroom apartment at an average size of 750 square feet will start at about $1350. Two bedroom apartments will cost closer to $1650 with about 1000 square feet. Renters will enjoy on-site parking, a gym, 24 hour front desk assistance and a rooftop deck.