City to sell properties on west side to developer AZ
The AZ Group hopes to start construction next summer on about 50 apartments on the west side of downtown, after purchasing a collection of city-owned properties. Baltimore would receive $79,000 for properties at 423-425 N. Howard Street and 217-225 W. Franklin Street under the land disposition agreement outlined on this week’s Board of Estimates agenda. The Baltimore-based firm plans to invest about $5 million to create the apartments, as well as about 3,500 square feet of retail space, said AZ Group CEO Aziz Housseini. The project, presented to the full board of the Baltimore Development Corp. in April, originally included offices and space for Robicelli’s Bakery, but those plans changed, in part because of investor appetite, Housseini said. This will be the biggest project to date for AZ Group, started in 2014.