Blue Key Development Quarterly

March 2026

90-Day Nuggets!

What Have ill and Austin Been Up To?

IN THIS ISSUE: Editor's Letter: Closing 200 Towsontown New Investment Opportunity: 5602 Baltimore National Pike Haven Coworking Update: Haven Coworking Kicks Off 2026 with Big Energy, Bold Moves, and New Beginnings HOT TAKES

Editor's Letter

Closing 200 Towsontown

They say good things come to those who wait, and after closing on our newest project in late December, I certainly think that is true.

In 2023, Austin and I got a phone call from a partner broker about a building that was for sale off market in Downtown Towson that might be a good fit for a coworking business. 2.5 years later, we are now the owners of that building, and have built Haven Coworking from the ground up within its walls to be the premiere and thriving coworking space of Baltimore County.

After having our financing rejected by a bank in 2023 the same week that Silicon Valley Bank imploded and all regional banks were on edge, we pivoted into a lease option and started Haven without bank financing. From signing our lease in January of 202, we were open for business by May. And last summer we added another floor of the building to Haven to bring our footprint to 22,000 sqft. Today, Haven has over 100 members and continues to grow each week.

With Haven established and the 4th and 5th floors of the building completely built out, we went back to the banks and successfully got our financing and closed last week. We raised $1,500,000 from Limited Partner investors and are grateful for their trust and vision along with us for this deal.

Sometimes the good ones take time. We pivoted. And pivoted again. And again. And again. But we got there and are proud to own this fantastic asset in thriving downtown Towson.

-Will

New Investment Opportunity

5602 Baltimore National Pike

We are opening up the last remaining Limited Partner position for our latest acquisition at 5602 Baltimore National Pike. This is a strategic 7-story, 57,000 sq. ft. office building positioned right off I-695.

The Strategy: We are acquiring the asset for $3M with a sophisticated "capital-back" plan. By selling an adjacent parcel and the existing T-Mobile cell tower lease within the first 30 days, we significantly de-risk the project early in the hold period.

• The Project: $1.2M renovation and full lease-up of the current 50% occupancy.
• The Timeline: Target 36-month exit at a projected 9% cap rate.
• The Opportunity: We are seeking a final capital partner to complete the $1.1M equity raise. $110,000 is available for the final investor. Minimum investment is $55,000, which represents a half position.
• The Return: LP partners receive a 33% share of the profits from the property sale.

The last spot will go quickly. If you’re in, please reply “Interested” or call/text me directly at 443-745-2155 and I’ll send the full deck and subscription docs today.

To learn more and access the Deal Room, click here:

​https://bluekeydevelopment.investnext.com/portal/offerings/9252/5602-baltimore-national-pike/​

Updates on Haven Coworking

Haven Coworking Kicks Off 2026 with Big Energy, Bold Moves, and New Beginnings

Community Highlights

We were thrilled to host two marquee events that brought the local business and investment communities right to our doorstep:

• The Maryland Investors Network: Nearly 100 professionals joined us for the "State of the Market" update in early January. A panel of four real estate experts shared invaluable insights on navigating the 2026 market and how investors can stay agile in a shifting landscape.
• Towson Chamber of Commerce Breakfast: On February 18th, we opened our doors to local business leaders for the Chamber’s monthly breakfast. It was a fantastic morning of networking and a great opportunity to showcase the Haven environment to our business neighbors.

The Road to Belair Road

Construction at our second location (6809 Belair Rd) is officially in the home stretch! We are currently focused on the final "finish" phase, with several major milestones already cleared:

• Architectural Features: The grand staircase is in, creating a stunning focal point for the space.
• Infrastructure: Both HVAC and all lighting systems are fully installed and operational.
• Interior Design: We’ve officially kicked off the furniture design process with Wayfair. We’ll be placing our final orders in the coming months to ensure everything is perfect for opening day.

Things are moving so quickly that my latest 360-degree photo tour, taken just a month ago, is already a bit "retro" compared to the progress on-site today! Still, it offers a great look at the layout and craftsmanship of the new space.

Check it out here! Take the 360° Virtual Progress Tour Here​

Hot Takes

“ Over the holidays, I got hooked on one of the most epic motorcycle journeys ever caught on film. Every two days, Dutch traveler Noraly (better known as “Itchy Boots” on Youtube) drops a new chapter of her solo expedition across the ancient Silk Road. Starting in Karachi, Pakistan, she has ridden through roadside Taliban checkpoints in Afghanistan, navigated high-altitude mountain passes, and even survived a heart-stopping moment when a gust of wind nearly stole her immigration papers. ​ Currently, she’s pushing through the rugged deserts and peaks of Xinjiang, China. ​ As one viewer perfectly put it: “I came for the motorcycling, stayed for the photography, and am learning history, culture, and lessons of global humanity.” ​ If you want to witness the lesser-known world from two wheels, you can binge the entire series here: ​Itchy Boots: The Silk Road Playlist​ — Will

“ The World is Run by Those Who Show Up ​ I recently attended a meeting where a local realtor announced he’d won a seat on a County Democratic Committee simply by raising his hand. There were six openings and only five applicants. He won by default. ​ In a world of digital distractions, we’ve let the fundamental machinery of our communities fall to the wayside. This leaves the doors wide open for anyone willing to step in. ​ We need more "everyday people" serving as the founders intended: brief, high-impact stints followed by a return to private life. Serving on the Legislative Committee for the Greater Baltimore Board of Realtors has shown me two things: ​ 1. Almost no one is actually watching the "slight nudges" in local policy that create massive long-term shifts. ​ 2. If you want real change, you have to get involved locally. ​ 3. It is shockingly easy to do. — Austin