Klein Enterprises Receives $64.5M Construction Loan to Build Apartment Community in Baltimore

BALTIMORE — Klein Enterprises has received a $64.5 million construction loan for the development of The Woodberry, a 284-unit apartment community located at 2001 W. Cold Spring Lane in Baltimore. The loan was underwritten and serviced by AGM Financial, in partnership with the U.S. Department of Housing and Urban Development (HUD)’s Baltimore Multifamily Housing Office. The Woodberry will include a mix of one-, two- and three-bedroom, market-rate apartment units. Community amenities will include a fitness center with yoga room, game room, clubroom, bike room, pet wash, rooftop deck, saltwater pool and an exterior patio and grilling area. The project will also include 7,500 square feet of ground-floor retail. JDavis Architects is the architect for the project, and Old Town Construction is the general contractor. The development team will break ground on The Woodberry this week, with completion scheduled for spring 2020.