May 2017 Around Town

Towson Circle Development Makes its Mark

Rental Properties of America, Inc. (RPAI) and AvalonBay are partnering to add 371 residential units in Towson Square and the redeveloped Towson Circle. RPAI plans to make the development a retail, shopping, entertainment and dining destination. The area was once a “mini-mall” that, according to Nick Over, vice president of development, needs to be reconfigured to become more friendly for pedestrians and to increase access and visibility by moving the retail from under Joppa Road to street level.

“It is simply not viable, as retail and restaurant tenant’s today want walkable, street-facing retail, in a pedestrian realm format,” Over says.

 

Two Baltimore Lenders Announce Plans to Merge

A pair of longtime Baltimore lenders, Rosedale Federal Savings & Loan Association and Midstate Community Bank in Rodgers Forge, are planning to merge. The two firms jointly announced that Midstate, which operates out of one location at York Road and Regester Avenue, will become part of Rosedale Federal. They said the transaction will expand Rosedale Federal’s “footprint” in the community and complement its growth, and that it will offer Midstate’s customers a larger banking network and more banking options.

No branch closings or staff reductions are planned as a result of the merger. In business for more than 109 years, Rosedale Federal currently has eight branches and will make Midstate’s one office its ninth location in the fall of 2017. The lenders say they will retain the same employees who have served customers for years.

Kevin Benson, president and CEO of Rosedale Federal, will serve as president and CEO of the combined bank whose total assets will be just under $1 billion.