A development team headed by James Maleady and Walter Skayhan is hoping to break ground by midyear on the first phase of Montgomery Square, a 44-unit town house community planned for the Federal Hill area.
Baltimore's Planning Commission recently approved a final subdivision and development plan for the project, which will be constructed on a parcel bounded roughly by South Charles, West Montgomery, West Churchill and South Hanover streets in South Baltimore.
Mr. Maleady told commissioners that base prices for the three-story dwellings range from $180,000 to $225,000 and that the final prices may reach $250,000 or more depending on what options buyers select.
He said eight of the 44 town houses already have been reserved and that most of the buyers are people who already live in the area and want to move up to a bigger house with off-street parking. "Three-quarters, we hope, will be people who have been living in the neighborhood and are committed to it but would like to move from a house that is 12 or 13 feet wide to a shallower but wider house that has more light."
Jay Marotte of Prudential Preferred Properties is the sales agent for Montgomery Square. Maleady, Roy & O'Brien P. C. is architect and Summit Construction Co. the builder.
Mr. Maleady said his group hopes to have the first six houses ready for occupancy by the end of the year and to complete the project by mid-1994. He said he has seen more buyer interest since late January.
"I don't know if it's prompted by the war in the Persian Gulf or
the fact that interest rates are down or what, but people are making decisions," he said.