Home Alts News Griffin Capital Qualified Opportunity Zone Fund Completes Construction of Maryland Apartment Community

Griffin Capital Qualified Opportunity Zone Fund Completes Construction of Maryland Apartment Community

Griffin Capital Company LLC, an alternative asset manager, together with their joint venture partner, real estate company Greystar, announced that the construction of The Lucie, a pet-friendly 500-unit apartment community in Baltimore, Maryland, has been completed and has begun leasing.

The Lucie features a sky lounge with views of downtown Baltimore and the harbor. Interior finishes include quartz countertops and tile backsplashes.

“We are thrilled with the delivery of the Lucie,” said John Clarkson, Greystar’s managing director of development. “Its innovative design, carefully selected amenities, and access to high quality retail will provide our residents an unrivaled living experience in the heart of Brewers Hill.”

The Lucie is one of nine communities being developed by Griffin Capital Qualified Opportunity Zone Fund L.P., which will comprise 3,273 apartment units with an estimated total project cost of approximately $979 million.

“The Lucie provides much needed multifamily units to the fast-growing Brewers Hill neighborhood, and we are thrilled that our long-term investment in this neighborhood will continue to create jobs, provide economic stimulus and a great experience for our residents for many years to come,” said Eric Kaplan, president of Griffin Capital. “The property was built on vacant and underutilized land, and we are proud to have converted the site into much needed housing. Greystar has been an integral partner in our mission, and we are excited to begin leasing on another property with their team.”

Floorplans are available in studio, one-, and two-bedroom layouts, with additional loft and den options. Apartment homes feature electric cooktops, nickel-finish appliances, kitchen islands, flat cabinetry, mobile unit entry, a smart thermostat, walk-in closets with built-in storage, stackable washers and dryers and balconies with views of Brewers Hill and the water.

Community amenities include a library, clubroom, game room, kitchen, fitness center, coworking spaces, conference room, semi-private call booths, active, zen and pool courtyards and a posh pet grooming studio.

Brewers Hill features a history of beer brewing with the illuminated Mr. Boh sign that hangs above the old Natty Boh brewery serving as a local landmark. The Lucie is near Sprouts Farmers Market, Harris Teeter, Target and Nordstrom Rack. Jimmy’s Famous Seafood tops the area dining options that also include Mission BBQ, Di Pasquale’s Marketplace, Pasta Misa Canton and Iron Rooster, amongst others. Additional neighborhood highlights include Bark Social Baltimore, Canton Waterfront, Mobtown Brewery, Patterson Park and more. The community is a short drive to Fells Point, the Inner Harbor, which features a variety of entertainment options, and Oriole Park at Camden Yards and M&T Bank Stadium.

Founded in 1995, Griffin Capital has owned, managed, sponsored or co-sponsored investment programs encompassing more than $23 billion in assets.

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