Franklin Lofts & Flats – Lower Rents for Baltimore

A developer planning a new apartment project at the corner of East Franklin and St. Paul streets wants to offer rents well below what most landlords are charging downtown.

Osprey Property Cos. is in the early planning stages of a $15 million apartment complex that would convert a former office building at 20 E. Franklin St. and construct a new building behind it along St. Paul Street. The combined complex would include 41 units that would rent for as low as $1.30 per square foot — well below the city average of $1.92 per square foot or downtown average of $1.76 per square foot, according to Delta Associates.

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