CUMBERLAND — The Senator George C. Edwards Fund has awarded The Rosenbaum Building Project on Baltimore Street $500,000 to complete the final phase of restoration work.
The completely restored 52,000-square-foot building will feature retail space, office space, apartments and short-term rentals.
The grant from the Edwards Fund along with $1 million in financing from CG Enterprises will complete the full renovation of the property.
“To restore these giant buildings on Baltimore Street, it takes public and private funds to make these projects work financially,” said Jake Shade, executive director of the Senator George C. Edwards Fund.
“It takes a private partner with vision and we are lucky to have that with Chris Hendershot, Garrett Eagan, Zach Hattenfield and the rest of the CG Enterprises team. And it takes a really focused team effort to restore these long-neglected buildings.”
The third floor of the Rosenbaum Building will feature nine new luxury apartments that will be available for lease by December, while the fourth floor will feature 12 short-term rentals that will be deisgned similar to a boutique hotel with a completion date slated for late 2025.
“We are very grateful for this funding and want to thank everyone involved who believes in this project,” Garrett Eagan of CG Enterprises LLC said.
“This will allow us to continue to help transform downtown Cumberland.”
The Senator George C. Edwards Fund is a four-year, $50 million program aimed to spur economic growth in Allegany, Garrett and Washington counties.