BALTIMORE, MD – May 30, 2012 – (RealEstateRama) — A major waterfront development opportunity in Baltimore’s emerging Port Covington neighborhood will become available through an auction scheduled for June.
Max Spann Real Estate & Auction Co. has scheduled the trustee-ordered auction of the approximately 5.21-acre property located at 301 East Cromwell Street for June 14, 2012 at 1 p.m. The auction will be held at Miles & Stockbridge PC, 10 Light St., Baltimore.
“This waterfront property presents a rare opportunity for major development within the Baltimore-Washington metropolitan area,” said Max Spann, President and Chief Executive Officer of the auction house. “The possibilities with this developmental area are endless, there are so many directions that a developer can go in.”
The existing zoning of the property will allow the new owner to create and develop a combination of retail, office, hotel, commercial, industrial, residential, recreation spaces, with an added possibility for a marina. The property includes about 5 acres of riparian rights.
The zoning calls for a Planned Unit Development (PUD), which allows for a grouping of varied and compatible land uses in one contained development. The property is located just off I-95 directly on the Harbor and is minutes from downtown Baltimore, Port Covington Shopping Center, and all of Baltimore’s desired attractions.
Port Covington was once called Fort Covington and was used to defend Baltimore from 1813 to 1869. The port has been in operational use for more than 150 years.
Max Spann has scheduled two property previews from noon to 2 p.m. on Thursday, May 24 and Thursday, May 31.
To learn more about the property, call 888-299-1438 or visit maxspann.com to obtain a property information package. Preview the historical waterfront property at one of the open houses, attend the auction, and bid.
For more information about Max Spann’s auctions, visit maxspann.com, or follow Max Spann on Facebook/MaxSpann and Twitter/MaxSpann.