One Calvert Plaza

Located in the heart of downtown Baltimore, One Calvert Plaza is a key feature in a well-established and active business, residential and tourism center. Just to the south is the famed Inner Harbor waterfront, known for the National Aquarium, Maryland Science Center, Pratt Street Power Plant and Harborplace, which is planned for a $500M revitalization. Similarly, the Baltimore Convention Center, CFG Bank Arena, Orioles Park at Camden Yards, and M&T Bank Stadium offer no shortage of attractions, entertainment, and events. Nearby, the Harbor East and Fells Point neighborhoods are thriving from recent growth and revisioning. The blocks surrounding One Calvert Plaza offer future residents entertainment options and amenities. Next door is the Chesapeake Shakespeare Company, and a few blocks away are Port Discovery Children’s Museum, Baltimore Soundstage, and Power Plant Live, which is undergoing renovations and will reopen as a top music venue for the area. This energetic and thriving city is also home to many national and international companies, such as Under Armour, Johns Hopkins University and Health System, Pandora, Exelon, T. Rowe Price, Legg Mason, M&T Bank, Ports America Chesapeake, and many more. Downtown Baltimore is an attractive investment location due to its vibrant cultural scene, proximity to major employers, and ongoing urban revitalization efforts that promise future growth and increased property values. Additionally, its diverse amenities make it an appealing location for residents seeking a dynamic urban lifestyle.NAI Michael is proud to present to qualified investors and developers One Calvert Plaza, a partially completed office to multifamily conversion project in the Baltimore, Maryland Central Business District. Formerly known as the Continental Trust Company Building, this historic 16-story skyscraper was built in 1901 and was the tallest building in Baltimore at that time. Recently, a complete renovation of the building was started in an effort to convert the storied building into a 157-unit luxury multifamily building. The conversion is not fully completed and now presents as a unique opportunity to purchase and finalize this trophy project. One Calvert Plaza is a 16-story historic building totaling approximately 158,838 square feet. In 2022, renovations commenced to convert the building from office to multifamily. It is planned for 157 apartment units with an average size of 611 square feet, along with 8,143 square feet of first floor retail and amenity space. In 2024, construction was put on hold. Construction completed to date includes many bathrooms and kitchens, as well as HVAC, lighting, plumbing, trim, closets and appliances installed in many of the units. In general, upper floor unit renovations are closer to completion and nearer to “move-in” condition than those on lower levels. Completion decreases toward the lower floors. A detailed matrix of completed items and remaining work provided by third parties is available to provide further details. In summary, significant renovation work has been completed, providing the purchaser with an excellent foundation to complete the project quickly and efficiently.