5-story tower sought for club

Office facility to join renovated tennis complex at Bare Hills in Baltimore County

October 29, 2005|By LORRAINE MIRABELLA | LORRAINE MIRABELLA,SUN REPORTER

The company that bought the Bare Hills SportsPlex in Baltimore County plans to refurbish the 38-year-old tennis club and build a five-story office tower on the site off Falls Road, an estimated $10 million project.

Capital Funding Acquisition Group LLC, the company set up by businessman John W. "Jack" Dwyer to purchase the 4-acre property, closed on the $3.45 million deal yesterday.

Capital Funding Acquisition bought the club at a foreclosure auction in August.

"We will maintain it as a sports club," said Mike Coiro, who works for Dwyer at Capital Funding Group Inc., the parent firm, which provides financing to nursing homes and hospitals.

"We will be doing a major improvement and updating of the gym and the entire sports facility," he said.

Capital Funding Acquisition plans to build a 45,000-square-foot office building adjacent to the sports club, where Pam Shriver, a Tennis Hall of Fame member and Baltimore native, once played.

The development plans still require approval from Baltimore County but have not yet been submitted for review.

The company plans to move its office and about 27 employees to the new building from headquarters on Clinton Street in Canton that are slated to be razed as part of the $1 billion Canton Crossing mixed-use development.

Coiro said the company expected to use about half the office space and lease the rest.

The 77,000-square-foot complex includes a large sports field, five indoor tennis courts and a gym.

lorraine.mirabella@baltsun.com

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