Rivergate
Update
04/22/21
IDI Group & PTM Partners Acquire Rivergate Phase 2 Site for $16.6M: $35M Permit Apps Filed
The IDI Group & PTM Partners have closed on the site at 1000 Annapolis Way for $16.6M with $63.8M in financing secured through United Bank. IDI along with GC John Moriarty have also filed a series of permit apps valued at $35M to begin construction on the site. Phase 2 of the Rivergate development will offer 318 apartments. The first phase of the development which was completed in 2018 includes 402 units. Each building will include a health and fitness center, club lounges, and an outdoor pool with sundeck.
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