Baltimore-area residential sales declined 11.6 percent in September

REAL ESTATE NOTES

November 04, 1990|By Edward Gunts

The number of Baltimore-area residences sold in September was 1,462, an 11.6 percent decline from the September 1989 figure of 1,653, according to the Greater Baltimore Board of Realtors.

The total dollar volume of residential sales during September was$177.5 million, down 9.6 percent from $196.4 million in September 1989. The average price of a house rose 2.2 percent, from $118,810 in September 1989 to $121,404 last month.

For the first nine months of this year, 14,014 residences were sold, up 1.4 percent from the figure of 13,826 homes sold during the first seven months of 1989. The year-to-date dollar volume was $1.7 billion, up 6 percent from the September 1989 year-to-date figure of $1.6 billion.

The figures reflect uncertainty on the part of buyers about the crisis in the Middle East and the state of the economy, according to the board. "Buyers are being more cautious before making a major decision," said president-elect Brandon Gaines. "GBBR is

attempting to educate the public through its homebuyers' seminars and citywide open-house program."

The figures include new and existing home sales as reported to the Central Maryland Multiple Listing Service, a wholly owned subsidiary of the Greater Baltimore Board of Realtors. The figures reflect sales activity primarily in Baltimore City and Baltimore, Howard, Harford and Carroll counties.

Seven development projects in Anne Arundel Co. were winners the 1990 Excellence in Beautification and Development Awards Program sponsored by Anne Arundel County. County Executive James Lighthizer launched the program six years ago to recognize development projects that exceed minimum requirements through innovative and distinctive design, community contributions, historic preservation and resource conservation.

Award winners and their developers were: g.Briggs, Annapolis -- Ericson Inc.; Oregon Business Center -- FRP Development Corp.; 188 Main Street in Annapolis -- Jerome J. Parks Companies; One NationalBusiness Park -- The KMS Group; Arundel Olympic Swim Center -- Anne Arundel Co. Department of Recreation and Parks; Riva 400 Office Park -- Annapolis Development Corp.; and the Villages of Cromwell Fountain -- Cromwell Fountain Associates.

Around the region:

* Struever Bros. Eccles & Rouse have begun work on converting the Independent Can Co. building at 934 S. Lakewood Ave. in Canton to the Indecco Apartments, a 45-unit complex for the elderly. Apartments will be available starting in September 1991, and rents will range from $210 to $310 per month. Cho, Wilks and Benn is the architect. Wallace H. Campbell & Co. is the leasing agent.

* The Villages at Homeland town house community in North Baltimore received a merit award in the Builder's Choice Design and Planning Awards program conducted by Builder magazine. Ziger, Hoopes and Snead of Baltimore was the architect for the project.

* Historic Annapolis Foundation has hired Hermann Advertising Design to design and produce a "coffee table" brochure about the renovation of the William Paca House and Garden, one of the best-known properties in the Annapolis area.

* The 10-year-old design firm of Shannon P. Kennedy, Architect has changed its name to Kennedy Architects Inc. Its affiliates include Kennedy Interiors Inc. and Kennedy Management Inc.

* Helman Hurley Charvat Peacock/Architects Inc. of Maitland, Fla., has been hired by the developers of the $1 billion Worldbridge Centre project in Baltimore County to design the "cultural park" planned as part of that multiphase project. Past projects of its Leisure and Hospitality Design Division include Shamu Stadium at Sea World in Orlando, Awaji Sealife Park in Japan and the Aquathema Theme and Water Park in Italy.

* SCM Chemicals Inc. recently leased 85,670 square feet of industrial space at 6600 Cabot Drive in Marley Neck Industrial Park. Dan Colhoun and Richard F. Blue Jr. of Casey & Associates represented the tenant, and Coldwell Banker Commercial Real Estate Services represented Cabot, Cabot & Forbes, the landlord.

* Cochran, Stephenson & Donkervoet of Baltimore is the architect for the $18 million steam-generating plant that the Baltimore ThermalEnergy Corp. plans to build by late 1991 at 641 W. Mulberry St. in Baltimore. The city's Board of Municipal and Zoning Appeals recently granted a zoning variance for the project, which will replace a former Baltimore Thermal Energy Corp. plant in Camden Yards. Kidde Consultants is the project engineer.

* Woodside Center, a 40,000-square-foot, three-story office building in Columbia, was sold to David Finklestein and John W. Kluge of Kluge Finklestein & Co., which will move there. The Woodside Corp., a Maryland National Bank subsidiary, was the seller. L. Jamie Smith of W. C. Pinkard & Co. negotiated the sale.

* Thomas Ragno has been named director of leasing for the Candler Building at Market Place and Pratt streets, a project managed by the Beacon Management Co. Mr. Ragno was a development project manager for Rowes Wharf and South Station in Boston, two developments of the Beacon Cos.

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