Baltimore County, Caves Valley reach $6.9M deal for Towson site after opponents killed gas station plan – Baltimore Sun

2018-03-23T17:15:13+00:00March 23rd, 2018|Categories: Development, Press|Tags: , , , , |Comments Off on Baltimore County, Caves Valley reach $6.9M deal for Towson site after opponents killed gas station plan – Baltimore Sun

Baltimore County government is proposing a new deal to sell an old fire station site in Towson for development, an effort that previously stalled due to community opposition when a redeveloped plan included a convenience store and gas station.

The county will sell the 5.8-acre property at the corner of York Road and Bosley Avenue to Caves Valley Partners for a little more than $6.9 million — lower than the original proposed sale price of $8.3 million, according to county documents.

Towson-based Caves Valley would actually pay about $5 million under the proposed deal, because the company is agreeing to waive future tax credits that would have been worth $1.9 million that it would be eligible for.

The property, considered by some to be a “gateway” site into downtown Towson, has been a source of controversy ever since County Executive Kevin Kamenetz announced plans to sell it for private development in 2012. The property has housed a fire station and public works yard.

Caves Valley Partners was the winning bidder for the property, offering the $8.3 million with plans to build a Royal Farms gas station and convenience store, as well as two buildings for retail development. Initially called Towson Gateway, the project’s name was changed to Towson Station.

Many residents opposed the Royal Farms concept, saying a gas station and convenience store would be incompatible with the site. Some also expressed environmental concerns.

Read full article: Baltimore County, Caves Valley reach $6.9M deal for Towson site after opponents killed gas station plan – Baltimore Sun