Beechtree Place, a residential development in Mount Washington, will be auctioning two houses and 20 empty lots on Dec. 3.
Located at Pimlico Road and Cross Country Boulevard in Baltimore, the 8.4-acre development was started almost two years ago. Only six of the 40 planned houses were built.
The houses up for auction were originally priced at $280,000 and $209,000. Suggested opening bids for the houses will be $80,000 and $50,000, respectively. Lots originally priced at $58,000 and $63,000 will have an opening price of $7,500 at the auction.
Both houses have three bedrooms and 2 1/2 baths. The more expensive, larger detached house is 2,628 square feet with a two-car garage. The other dwelling, a town house, is a 2,600-square-foot end unit that has a one-car garage.
One house and six lots will definitely be
sold at the auction, and the remaining properties will be auctioned off "on reserve," meaning the seller has 48 hours to decide whether he will accept the winning bid.
Michael Fox Auctioneers Inc. in Baltimore is conducting the real estate auction at 7 p.m. on Dec. 3 at the Baltimore Inn on Reisterstown Road in Pikesville.
Representatives from the auction house and First Advantage Mortgage Corp. of Columbia will be available to answer questions about the properties during open houses to be held from 1 p.m. to 4 p.m. today and Dec.
J & T Partners, a Wilmington, Del.-based developer, had planned to build a community of 40 town houses and individual homes priced from $190,000 to $240,000, which were aimed at second-time homebuyers and empty-nesters, said Thomas B. Krapf, president of J & T Partners.
Mr. Krapf attributed the slow sales pace to the downturn in the real estate market.
"A lot of people put deposits down, but changed their minds. We're auctioning the units to get some enthusiasm and to get the project moving forward," he said.
"Half the units are up for auction to reduce our debt on the property, and then we'll go on from there. . . . We're trying to get it [the development] completed. We haven't abandoned it," Mr. Krapf said.
All buyers of the empty lots must build a house that meets specifications that have been approved by Baltimore authorities and the Mount Washington Improvement Association. In addition, construction must begin by October 1991, said Jeanette Sparks, project manager for Michael Fox Auctioneers.
"Any modification to the Planned Unit Development must be approved by the Baltimore City Council and the Mount Washington Improvement Association," said William Rubin, president of the association. "We're looking forward to the project being developed and being an asset to the community."
In the middle of the new development is a large house now owned by Gary and Anne Gamber. The stone portion of the house dates from 1922. In the 1950s, then-owner Arthur Hooper commissioned the internationally renowned architect Marcel Breuer to design an addition to the old house and remodel the interior.
The addition, which has a flat roof line and industrial windows, was designed in the international style, which is known for skeleton-frame construction.
Other changes made to the house by Mr. Breuer include installation of a new main entrance, modernization of an old Georgian-style staircase and installation of cabinetwork.