Canton has been one of Baltimore’s hottest residential markets for over a decade. The scheduled and potential development slated for this year indicates that it is a hot spot for the the commercial market as well. With commercial property vacancy well below 10 percent, there is a definite demand for space in Canton. Companies located here are growing leaving potential new tenants with very few options. The area’s continued popularity can be attributed to its close proximity to 95 and its mix of urban and now suburban, with the Shops at Canton Crossing, amenities. 2015 is projected to be an active year for the area with developers proposing various types of commercial and residential buildings.
Some of the Planned/Potential Projects for 2015:
- WorkShop Development acquired the former Lenmar Corp. warehouse (4701 O’Donnell St.) and plans to open a BJ’s Wholesale Club there before Thanksgiving.
- Merritt Properties LLC proposed a seven-level parking garage to be built on the current site of the company’s fitness center’s outdoor pool. They are also considering building a 100,000-square-foot office tower to be constructed in front of the fitness center on Boston Street.
- Corporate Office Properties Trust has been exploring the possibility of building an additional four office buildings adjacent to the Canton Crossing Tower on Clinton Street.
- To accommodate the residential demands, developer Pollak Shores this week proposed a 350-unit apartment building between the Target and Canton Crossing Tower. They had hoped to begin construction in the fall, but the plans have not yet gotten the city’s design panel’s approval.
The rapid growth and continued investment by developers makes Canton one of the city’s hottest housing markets, which means great things for property values, but could cause some headache for homeowners as they search available inventory and make buying decisions. Working with a Realtor who knows Canton can help you find the perfect home that meets your needs, and will be a great investment for years to come.
Want to know more about Canton real estate, and how to own a piece of one of Baltimore’s great waterfront neighborhoods? Give one of our Realtors a call, or send us a form – we’re here to help!