August 5, 2024
Art Investment

Investors are raising the apartment game in downtown Hagerstown


If someone were to suggest living in downtown Hagerstown to you, what kinds of housing would spring to mind?

Whatever that impression might be, the reality of what’s available for living space downtown is rapidly changing, as the same investment surge in commercial development is affecting residential redevelopment, too.

Since 2013, more than $25 million has been invested in projects completed or planned to renovate 145 residential units downtown, according to figures provided by Jill Thompson, director of Community and Economic Development for the city.

These projects include everything from the Patterson Hall apartments on the corner of Franklin and North Potomac streets that were renovated for students at the University System of Maryland — Hagerstown, to the upscale, urban-chic dwellings nearly completed in the Updegraff Building on West Washington Street.

When renovations are complete, Updegraff building on West Washington Street in downtown Hagerstown will feature 21 brand new apartments on the upper three floors..

What many of them have in common is a mixed-use model, with commercial space on the ground floor and residential space upstairs.

And that’s one of the reasons at least one of the developers decided to pursue his projects.

“I like mixed-use,” said Lloyd Thoburn, who owns the building at 36-40 N. Potomac St. and is completing renovations to two apartments above the businesses at 351 S. Potomac.



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