10 Light St. office tower sells; will be converted into 445 apartments - Baltimore Business Journal

The 34-story 10 Light St. tower is the longtime home of law firm Miles & Stockbridge PC. The firm, which leases 120,000 square feet, is moving next year to the nearby 100 Light St. tower, effectively leaving 10 Light St. vacant.

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The downtown rental occupancy rate surpasses 90 percent, and a report commissioned by Downtown Partnership estimates the neighborhood needs 5,800 new residential units by 2017 to meet growing demand for housing.

Mayor Stephanie Rawlings-Blake in a statement said the redevelopment of 10 Light St. "addresses ... my top priorities for downtown." Rawlings-Blake has set a goal to bring 10,000 new families to the city.