Baltimore – A historic former general‑store at 4515 Harford Road is set to become a vibrant mixed‑use development after MCB Real Estate secured $6.3 million in financing. The three‑story Markley building, built in 1912 and vacant for more than a decade, will be renovated into The Markley, offering 19 one‑ and two‑bedroom apartments and 900 sq ft of retail space.
Financing and Partners
The financing package includes a $2.5 million construction loan from WesBanco, a $2.7 million bridge loan from the Neighborhood Impact Investment Fund, and a $1.1 million equity investment from Reimagine Development Partners (RDP) and Opal Companies. The project also benefits from a historic tax credit awarded by the Maryland Historic Trust and grant funds from the Maryland Department of Housing and Community Development.
“For too long, projects that cost less than $10 million have struggled to attract the capital they need,” said Will Bradshaw, CEO of RDP, a New‑Orleans‑based firm that specializes in historic‑rehabilitation tax‑credit financing. “Others might call these projects small, but they are not insignificant to their neighbors or the people that ultimately call them home.”
Community Impact
The Markley will sit just south of The Enolia, MCB’s $58 million, 151‑unit student housing development that opened in 2025 and is master‑leased to Morgan State University. By providing additional housing and retail options, the new project is expected to strengthen the Harford Road corridor, a key thoroughfare serving the university and seven surrounding neighborhoods.
“We’ve worked alongside MCB since 2022 on the redevelopment of the 3.6‑acre brownfield site that now houses the Enolia and will soon see the Markley renovation completed,” said Daniel Doty, Executive Director of Hamilton‑Lauraville Main Street (HLMS). “This project builds on other investments we have made — turning a vacant gas station into a community gathering place at The Lot and facilitating reinvestment in several vacant storefronts that now house wonderful community retailers.”
Amy Bonitz, MCB’s Managing Director of Community Development, added, “This transformation shows what is possible when anchor institutions, non‑profit partners, state and city agencies, and community‑development financial institutions work with the private sector to inject new energy and vitality in local communities.”
Timeline and Future Plans
The development team aims to complete construction by the summer of 2027. Once finished, the ground floor will host a neighborhood‑owned business’s first brick‑and‑mortar store, adding needed retail services to the area.
Reni Lawal, MCB project executive, said, “Together with the Enolia, The Markley will complete our efforts to create a new center of robust activity on the Harford Road Main Street that serves Morgan State University and the surrounding neighborhoods.”
Preserving Baltimore’s Heritage
The Markley building originally housed a general store that sold farm seed, equipment, and coal, and was home to the Markley family until 1955. Preserving the structure honors Baltimore’s architectural heritage while adapting it for modern use. Alexander Design Studio serves as the architect, Hencken & Gaines as the general contractor, and Traceries as the preservation consultant.
By blending historic preservation with new housing and retail, the project aligns with broader city goals to revitalize underused properties, stimulate local commerce, and provide affordable living options for students and families alike.
Original reporting: Baltimore Fishbowl — read the source article.
