Home About Us Properties Development Resident Resources Culinary Concepts News PROPERTIESBALTIMORE-MDTHE FLATS AT PROFESSIONAL ARTS BUILDING THE FLATS AT PROFESSIONAL ARTS BUILDING 101 W. READ STREET, BALTIMORE, MD 21201 1 2 3 4 5 6 7 Prev Next In 2009, Somerset completed the historic renovation of the Professional Arts Building, an eight story mid-rise building built in 1927 located in the heart of the historic Mount Vernon neighborhood of Baltimore, Maryland. Prior to its rehabilitation as a historic landmark in the neighborhood, the building had been more than 75% vacant for over a decade. The building was converted from office uses (historically medical, legal and other professions) to 96 market rate residential rental apartments. The neighborhood is close to major transportation lines and is home to the Washington Monument, the Walters Art Gallery, the John Hopkins Peabody Institute, as well as shops, a grocery store, and restaurants. Mayor Sheila Dixon and Congressman Elijah Cummings officiated at the ribbon cutting in June 2009, along with many other dignitaries, residents, and neighbors. Somerset and its joint venture partner NAGE Housing, Inc. acquired the building in 2006. Somerset oversaw the design and the renovations which preserved and restored the historic elements, as well as addressed the issues of a decade of deferred maintenance to make it a modern, more energy efficient apartment building. The renovations included repair of the original terra cotta balustrade, refurbishment of the main lobby and the elevator lobbies in the upper floors, and restoration of the store front on Cathedral Street. A new fitness center, business center and community room with secure access in a walkable neighborhood with arts, culture, and green space make this a popular place to live for young adults, professionals, and empty nesters. The project received approximately $2.7 million in Maryland state Historic Tax Credits, as well as approximately $4.2 million Federal Historic Tax Credits to preserve the integrity of the original building. Café Filí —providing breakfast, lunch and dinner— opened in the summer of 2017 in the ground floor retail space. Café Filí features Mediterranean small plates, pastries and gourmet coffee, providing an important amenity to the residents of the apartment building and serves as a gathering place for the Mount Vernon neighborhood. Learn more at cafefili.com. PROPERTY INFORMATION Number of residential units: 96 Retail units: Café Filí Affordability: Market rate rentals Construction Costs: $13.5 million (historic renovation) Total Development Costs: $25 million AWARDS “2010 Historic Preservation Award” from Baltimore Heritage PROJECT PARTNERS Owner: Professional Arts Building Partners, LLC JV Partner: NAGE Lender: Union Bank of California Federal Historic Tax Credits: National Trust Community Investment Corporation State Historic Tax Credits: Old Mutual Contractor: Streuver Bros, Eccles and Rouse Architect: Kann Partners Property Management: Broadhouse Café Filí: Somerset Culinary Concepts, LLC theflatsatpab.com ABOUT US PROPERTIES NEWS & MEDIA CAREERS AWARDS RESIDENT SERVICES COMPANY INFO About Us Our Impact Careers Contact Us 5101 Wisconsin Ave NW, Suite 410 Washington, DC 20016 Phone: (202) 363-2090 | Fax: (202) 363-1110 Copyright © 2021 Somerset Development Company. All Rights Reserved.