Greenberg Gibbons, Caves Valley Partners and Gilbane Development Company Form Joint Venture to Develop Residential Building at Towson Row

Owings Mills, Md. (August 13, 2020)— Greenberg Gibbons, Caves Valley Partners and Gilbane Development Company announced today that they have formed a joint-venture partnership to develop The York, a five-story apartment building situated above Whole Foods Market at Towson Row in Towson, Md. It will be the second residential building located within the $350 million mixed-use destination.

After successfully working with Gilbane Development Company on the project’s student housing building called Altus, Greenberg Gibbons saw an opportunity to partner again by investing in and co-developing The York.

“This partnership is a unique opportunity to further diversify our development portfolio, while enhancing our relationship with Gilbane Development Company,” said Eric Walter, Executive Vice President and Chief Investment Officer of Greenberg Gibbons. “The York will be another great addition to this transformative lifestyle destination that is bringing Towson together as a community.”

The York is a 231-unit, 280,000-square-foot apartment complex geared toward students, recent graduates and young professionals. Each apartment will come fully furnished and have a living room, full kitchen, in-unit washer and dryer, high-speed internet and flat-screen TV. The amenity-rich building will feature a clubroom, fitness center, computer lounge, study rooms, game room and a terrace for outdoor socializing and entertaining. Construction of the building is expected to be completed by August 2021. More information is available online at https://theyorktowson.com/.

“We are proud to have successfully opened Altus at Towson Row, which is fully leased and welcoming Towson University students this fall,” noted Russell Broderick, Senior Vice President at Gilbane Development Company. “We are excited to continue work at Towson Row with Greenberg Gibbons on The York.”

Towson Row is under construction on five acres between York Road, Towsontown Boulevard, Washington Avenue and Chesapeake Avenue. The 1.2 million-square-foot development, anchored by a 45,000-square-foot Whole Foods Market, will include over 75,000 square feet of retail/restaurant space, 150,000 square feet of Class A office space, 720 student housing beds, 231 sophisticated apartment units, the adaptive re-use of the former National Guard armory building into Towson University’s StarTUp and a 220-room, dual-flag hotel.

About Greenberg Gibbons

Celebrating over 50 years of success, Greenberg Gibbons is one of the Mid-Atlantic region’s premier developers of mixed-use, town center and retail properties. The company has developed and managed more than 5.5 million square feet. Its signature projects include the award-winning Hunt Valley Towne Centre, Annapolis Towne Centre, Waugh Chapel Towne Centre, Towne Centre Laurel and Foundry Row. For more information, visit www.ggcommercial.com.

About Gilbane Development Company

Gilbane Development Company is the project development, financing and ownership arm of Gilbane, Inc., a private holding company in its fifth generation of family ownership and management. Gilbane Development Company provides a full slate of real estate development and project management services. Completed projects incorporate every aspect of real estate including student housing, multifamily, residential communities, mixed-used developments, corporate headquarters, healthcare facilities, operational | data | distribution centers, R&D | manufacturing facilities, and many types of facilities delivered through public-private partnerships. Through its trademarked “Next Level of Student Housing®” program, Gilbane Development Company has completed or currently has in development over 16,000 beds of student housing. To learn more, visit www.gilbaneco.com/development.