Baltimore's The Time Group chosen to develop in Northwest Triangle
York's Redevelopment Authority selected The Time Group, a Baltimore-based developer, to build on a 4-acre site in York's Northwest Triangle neighborhood.
Baltimore's The Time Group chosen to develop in Northwest Triangle York's Redevelopment Authority selected The Time Group, a Baltimore-based developer, to build on a 4-acre site in York's Northwest Triangle neighborhood. Check out this story on ydr.com: https://on-ydr.co/27BlCFH
Gary Haber, ghaber@ydr.com Published 6:48 p.m. ET May 18, 2016 | Updated 11:04 p.m. ET May 18, 2016
Four development teams sought RDA approval to build on a 4-acre site owned by the RDA
The Time Group, of Baltimore, wants to build 130 to 150 market-rate rental apartments at the Northwest Triangle.(Photo: Submitted)
York's Redevelopment Authority on Wednesday selected The Time Group, a Baltimore-based developer, to build on a 4-acre site in York's Northwest Triangle neighborhood.
The Time Group has proposed a mixed-use project that would include between 130 and 150 apartments and about 14,000 square-feet of retail or restaurant space. The apartments would rent for between $700 and $1,500 a month, a company official has said.
The Time Group was one of four development teams vying for approval to build on the parcel owned by the RDA.
"All four development teams have the capacity," said Shilvosky Buffaloe, York's interim economic director. "Hopefully, at some point in the future, we can work with all of them."
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The other competing developers were Tri Corner Communities, Aiello's Custom Homes and the team of developers Hugh Simpson and Joe Wagman.
The Time Group and Tri Corner Communities were the two finalists, Buffaloe said.
David Cross, the RDA's chairman, said The Time Group's proposal matches what the agency was hoping for — a project that would mix apartments with retail and restaurants and spur economic growth for York.
He pointed to a mixed-used project near Franklin & Marshall College in Lancaster, which includes an Iron Hill Brewery & Restaurant, as what he hopes to see at the Northwest Triangle.
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The Time Group's previous projects include converting a former Hochschild Kohn department store warehouse in Baltimore's Mt. Vernon neighborhood into 171 apartments and 18,000 square feet of retail space.
The company's portfolio, according to its website, also includes Greenbrier Estates, a community of 155 rental townhouses in Conewago Township, and Hopkins House, an 18-story apartment building in Baltimore near the Johns Hopkins University's Homewood campus.
The RDA's board Wednesday voted to sell Time Group a six-month option for $25,000, giving it the exclusive right to conduct due diligence and finalize its plans for the site. The company will present its plans to the RDA board at its meeting in December, Buffaloe said.
The price for the land is still to be negotiated, he said.
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