Developer Caves Valley Partners has abandoned a controversial proposal to purchase the former Presbyterian Home of Maryland building in Towson for use as office space.
Arthur Adler, a partner with Caves Valley, said the Towson-based company canceled the deal during a “study period” that had been part of a contract for purchase.
In May, the Presbyterian Home of Maryland nursing home announced that it was leaving the building on Georgia Court near the heart of Towson after nearly 90 years of operation there and putting the land and building up for sale.
Caves Valley made an offer to buy the property and struck a tentative agreement with Baltimore County government to lease the space for government workers.
“We do office space, and we thought it would be cool office space,” Adler said.
But that idea came under fire from some neighbors who were concerned about traffic and other issues related to potential office use. Additionally, some wanted the property preserved because of its local history as the Bosley Mansion, the mid-1800s home of a prominent early Towson family.
Source: New buyers interested in Presbyterian Home property in Towson – Baltimore Sun
