July 5, 2024
Luxury apartment tower on Baltimore waterfront starts leasing
By Melody Simmons at Baltimore Business Journal
Harbor Point’s residential base will grow by hundreds of apartments this fall as the once-industrial waterfront peninsula primes for a new wave of tenants.
Renters are expected to move into the new Allied | Harbor Point tower in a couple of months as work at the luxury enclave sandwiched between Harbor East and Fells Point continues. The modern new residential tower off Caroline Street last week opened pre-leasing for 312 apartments, which will bring the total number of apartment units in Harbor Point to 704 by September.
Allied | Harbor Point’s opening is the latest at the peninsula that continues to morph from a blighted, contaminated site into one of the city’s premier mixed-use developments. The opening of the Allied apartments will be followed by the arrival of over 1,200 T. Rowe Price Group Inc. workers into a modern, new headquarters by year’s end. A 1,250-space parking garage is also expected to open near the Allied soon, followed by a boutique hotel next door.
Beatty Development officials said tours of the Allied development and model apartments have kicked off. The project will ultimately hold 530 units, and plans for a second tower with 218 apartments are in the planning phase with no timeline yet for opening. The Baltimore developer is building out Harbor Point with its investment partner Armada Hoffler.
Rents at Allied | Harbor Point will start at $1,198 for a studio. Other apartments include one-, two- and three-bedroom units with some two-story duplexes also available. Some apartments will have private balconies, while others will have luxury touches like kitchen islands and spacious floor plans, a Beatty spokesman said. All will have floor-to-ceiling windows with views of the city skyline and waterfront.
The Allied will also have an 8th-floor amenity area consisting of a more than 1-acre outdoor deck with a swimming pool, grill stations, cabanas and a dog park. The area will also have an indoor library that will overlook Harbor Point’s Central Plaza and an entertainment space with a catering kitchen. There is also a private gym and yoga studio.
“While designing Allied through 2020 and 2021, we focused on delivering an urban housing option that caters to people living in cities post-Covid,” said Michael Beatty, president of Beatty Development, in a statement.
Beatty Development is also focused on two other high-profile developments in Baltimore: the redevelopment and expansion of Penn Station and a redevelopment of Perkins Homes, the former Somerset Homes site and Oldtown Mall in East Baltimore.
Anchors at 27-acre Harbor Point include regional headquarters for Exelon Corp. and Constellation Energy Corp., Transamerica, Jellyfish and RBC Wealth Management. A Canopy by Hilton Hotel also opened in Wills Wharf, a 12-story office tower on the waterfront near the site where T. Rowe Price will move into the 550,000-square-foot global headquarters by December.
Two other apartment developments have already opened on the peninsula, the 289-unit 1405 Point and the 103-unit 1305 Dock St.
Allied | Harbor Point is located at 1402 Point St. and its name is a riff on the former industrial manufacturing firm at the site, Allied Chemical, a chromium plant. The factory was demolished in the 1980s and the area was environmentally reclaimed and protected with a cap over the original soil above ground and under water.
The massive parking garage is built into the base of the tower and workers are also developing a 152-room Residence Inn by Marriott next door.
BHC Architects and Ayers Saint Gross designed the Allied | Harbor Point, and Virginia Beach, Virginia-based Armada Hoffler, a majority owner of Harbor Point, is the general contractor.
