Carr Properties has taken over the redevelopment plans for the Montgomery Center in Old Town North as construction plans move forward.
The developer announced it acquired 300 Montgomery Street from MC Property, LLC. According to Bisnow, Oliver Carr Jr.’s CarrAmerica handed over the property to his son Oliver Carr III’s Carr Properties in the transaction.
The two-acre property, a block of current and former commercial tenants, will be turned into a 373-unit apartment community. According to Carr, the residential community will include a rooftop pool and amenity lounge with waterfront views, and additional details on amenities will be announced at a later time.
“Old Town is a neighborhood with strong long-term residential demand,” said Austen Holderness, executive vice president and chief development officer at Carr Properties. “Its walkability, energy and distinct sense of place make it a market where we see an opportunity to continue investing.”
The 373 units exceed previous plans for the development. ALXnow has reached out to a Carr spokesperson to confirm if it is still pursuing plans for more than 25,000 square feet of retail and a 13,300-square-foot performance venue.
The site is near Carr Properties’ 237-unit Margot residential community at 425 Montgomery Street. That residential property is expected to open to its first residents in early 2027.
“Our experience building Margot has given us an opportunity to see firsthand the strength of this market, and 300 Montgomery Street allows us to build on that momentum with another thoughtfully designed residential community in the heart of the neighborhood,” Holderness said.
Montgomery Center, bordered by Montgomery, Madison, N. Royal and N. Fairfax Streets, featured an array of commercial tenants. Many have vacated in the past few years, such as the Art League’s Madison Annex, Crooked Beat Records, A La Lucia and Extra Perks.
The developer aims to have the 300 Montgomery Street construction begin in spring 2028 and be completed in spring 2030.
Image via Google Maps
