210 S Central Avenue
Evergreen has a Joint Venture partnership with the Hogan Companies and Focus Development to acquire an approximately 2-acre site located at 210 S. Central Avenue in Baltimore, MD. The site contains a historic school building at its center, a 25,000 SF commercial building leased and occupied by Stratford University, and ~140 surface parking spaces.
The business plan is to acquire the property, finalize the approval process, and complete schematic drawings for a 200+ unit multifamily project. With approvals and design in-hand, the partnership will either sell the approved site to an institutional developer or recapitalize the project with institutional equity and proceed with the development. This process is expected to take 24 months.