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Conifer Realty has acquired a former retail site in Annapolis for $3.8 million with plans for a transformation to workforce housing.

Conifer Realty Drops $4M on Annapolis Retail Site for Workforce Housing Transformation

MacKenzie Commercial Real Estate Services, LLC, has brokered the $3.8-million sale of 5.3 acres in the Odenton Town Center submarket of Annapolis, MD. Conifer Realty, LLC, purchased the property from the EL Gardiner family and will develop two buildings with approximately 150 workforce rental units on the site.

David McClatchy of MacKenzie Commercial Real Estate Services, LLC, represented both parties in the transaction.

“Because this site is within a retail corridor in Anne Arundel County, it was generally assumed it was for that use, which is why it languished and sat vacant for many years,” said McClatchy.

Anne Arundel County officials have been generally unreceptive to new residential development proposals in the county for the past several of years, but workforce housing is viewed in a far different and positive light.”

Development work is expected to commence on the site this fall with delivery scheduled for late 2023.

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Inside The Story

MacKenzie Commercial Real Estate Services, LLC's McClatchy

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
  • ◦Development
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