Turner Development

New city lifeWhen Patrick Turner of Turner Development comes across a rundown inner-city area, he doesnÔÇÖt see terminal hopelessness; he sees an opportunity to revitalize the urban landscape, reports Ruari McCallion. As the nature of the economy changes, some places are inevitably going to be left behind. The old industrial heartland of the US is, increasingly, presenting a panorama of abandoned buildings, crumbling infrastructure and echoes of prosperity long since moved on.  Docklands and manufacturing areas suffer in a sad silence. But all these, in different ways, have the potential to become vibrant new living, working and commercial centers, if taken in hand by people with the vision and expertise to effect transformation. For Turner Development, theyÔÇÖre opportunities not to be passed by.ÔÇ£We buy old industrial properties that no one wants,ÔÇØ says Patrick Turner, founder and president of Turner Development. ÔÇ£They and the land may be contaminated; the structure may be beat up and falling down; decontamination is expensive, and most people donÔÇÖt want to pay to clean them up. Most people shy away from it.ÔÇØ But there are advantages, too. ÔÇ£These areas, like Westport, used to have, say, 35,000 jobs, so there are no problems with roads, and they have adequate water and sewerage infrastructure,ÔÇØ says Turner. Westport is a 54-acre site in Baltimore adjacent to parklands, with a big waterfront and a view of the cityÔÇÖs historic Hanover Street Bridge. If it was ÔÇ£greenfield,ÔÇØ developers would be fighting to develop it. But a former dockland areaÔÇöfour times the size of the Inner HarborÔÇöhad been overlooked, until Turner came along. Others could have missed out on a big opportunity. ÔÇ£Westport is going to be a Platinum LEED project. ItÔÇÖs a transformational site: on the waterfront, transit-oriented, with a public railroad running through it, and mixed commercial/residential. It has all the buzzwords and ticks all the boxes.ÔÇØ The Westport development will blend natural surroundings with upmarket retail, restaurants, nightlife and life-work culture to create a new urban destination area. It will have a dramatic and eye-catching skyline, making it a living symbol of BaltimoreÔÇÖs future. Located a mile from downtown, itÔÇÖs a $1.5 billion project that will run for seven to ten years, with the construction phase starting in 2009 following demolition, decontamination, and design and planning. ItÔÇÖs a bold project to undertake during a downturn in the economy generallyÔÇöhousing and construction in particular. And Turner doesnÔÇÖt sell until it has finished building, another example of swimming against the stream.ÔÇ£Companies make money when they buy, not when they sell,ÔÇØ says Turner. ÔÇ£We buy right, in the right conditions. We know our product, and we know our market; itÔÇÖs a question of pricing at the right level, and we know what that level is when we come to sell. The market is cyclical; we ride the cycle with smart buying and appropriate pricing.ÔÇØ ItÔÇÖs a formula that has worked pretty well for over 20 years and helped the company to grow. Turner Development was founded in the mid-1980s and began its conversion and revitalization with townhouses in Baltimore. ÔÇ£Townhouse conversion was the same thing as weÔÇÖre doing now but on a smaller scale,ÔÇØ he says. ÔÇ£Our first big project was Henrietta Square in Baltimore, which was a new construction on a vacant lot.ÔÇØ It now houses commercial and residential units in a four-story development that has transformed an entire city block from a rundown area into a desirable downtown address. Silo Point, a conversion of a 1920s grain elevator, marks another step along TurnerÔÇÖs growth road. Another mixed-use project, it is the first condominium project in Baltimore to feature a huge glass curtain wall, which allows stunning views from everywhere in the building. It isnÔÇÖt a single building renovation; no less than 12 original silos have been integrated into the design. When completed, Silo Point will have ground-floor retail premises, feature restaurants and outdoor cafes, and an 18th-floor Sky Lounge. ÔÇ£Rather than tear down a landmark building, weÔÇÖve adapted it to new, contemporary uses,ÔÇØ says Turner. But the original structure was designed in the 1920s. How can it meet the requirements of 21st-century building codes?ÔÇ£The silo was built to hold five million bushels of grain. It was built heavier than todayÔÇÖs buildings, which makes it easier to adapt and modify,ÔÇØ he explains. It will be finished in September 2008, and Turner is very confident it will make money for the companyÔÇöit has, after all, done something similar already. When South Baltimore General Hospital, on Light Street, was closed and shuttered in 2001, it didnÔÇÖt leave a gap; it left a decaying, potential eyesore, a visible manifestation of emptiness in the heart of Federal Hill, a bustling, busy area since the cityÔÇÖs early days. Turner Development acquired the property in 2003 and has turned it into 1211 Light Street, a desirable address featuring 67 luxury condominiums. The interior was gutted, but the original hospital design lent itself very well to modern design for urban living, which maximized available square footage for spacious living. The kitchen, dining and living areas are open plan, which makes them ideal for entertaining. Rooftop terraces offer to-die-for views of the waterfront and the city, and an interior courtyard provides common outdoor space that is, at the same time, private. Turner Development employs only ten people directly and uses consultants and private firms of architects and engineers to achieve its vision. It buys privately but works closely with local agencies, gaining some financial recompense, either in tax-free bonds or direct payment, for taking risks others back away from.ÔÇ£Our expertise is our knowledge of zoning, entitlements of properties, the urban environment and how to deal with them,ÔÇØ says Turner. ÔÇ£We work all over the country, but we particularly like Baltimore; our focus is here. ItÔÇÖs close to Washington, DC, there are a lot of defense contractors, and weÔÇÖre experiencing a lot of medical expansion, led by Johns Hopkins. High-powered people are attracted here, and weÔÇÖre part of that attraction.ÔÇØ┬á