March 23, 2022
Harbor Point and Exelon Headquarters in Baltimore, Maryland
In January 2022, Armada Hoffler acquired the Exelon headquarters in Baltimore, MD. This property is the newest addition to our holdings within Harbor Point. Others include 1405 Point Apartments and the Thames Street Wharf and Wills Wharf office buildings. Our company is currently in a joint partnership with Beatty Development Group that will work to construct T. Rowe Price Global Headquarters and other assets during the latest phase of development for Harbor Point.
Completed in 2016, the Exelon Building serves as the regional office for Exelon Corporation. It is a 23-story mixed-use property with 440,000 square feet of Class A office space, 103 multifamily units – the 1305 Dock Street apartments, 38,500 square feet of retail space, and 750 parking spaces. The building will become the headquarters of Constellation, a publicly traded, Fortune 500 energy company, in the first quarter of 2022.
The Exelon building exists within a wide-scale community known as Harbor Point.
Harbor Point has made a name for itself as one of the East Coast’s most prestigious waterfront developments. It is an incredible mixed-use community in between Fells Point and Harbor East. The site occupies the last portion of undeveloped land on Baltimore’s Inner Harbor.
The project has been developed in three phases and features three million total square feet, including 1.6 million square feet of office space, 250 square feet of retail space, and 9.5 acres of green space.
Harbor Point has positively impacted the growth of its community in many ways. The development has created new job opportunities for community members with its plethora of mixed-use establishments with retail and residential spaces. 29% of the workers and 59% of new hires at the Exelon building alone are Baltimore City residents.
The community continues to thrive as the first true eco-district in all of Baltimore. All of its buildings are required to hold at least a LEED Silver standard and developers are encouraged to promote responsible water usage, minimize the use of resources, and consider fuel-efficient transportation options.
Being that it was one of the first properties built in the community during phase I, Exelon has become a prime example of a sustainable building for Harbor Point’s developments. The building’s exterior has earned a LEED Gold certification, while the interior has earned the highest possible rating among the standard with its LEED Platinum certification.
The site is currently in Phase III of development, which is expected to be completed by 2024. This will include Parcel 3, Parcel 4, and Point Park.
Parcel 3 will be the headquarters for T. Rowe Price. It will feature two green buildings joined by a glass atrium, creating 470,000 square feet of office space and 50,000 square feet of retail space.
Parcel 4 will adapt Harbor Point’s signature mixed-use model, blending hotel, retail, and residential spaces. The plans for this development include 500 residential units, 159 hotel keys, and more than 10,000 square feet of retail space.
Point Park will be 4.5 acres of green space on an open lawn used for recreation and special events.
Armada Hoffler Construction partnered with Beatty Development to construct the Exelon Building during Phase I, so any new developments created at Harbor Point are always exciting to see.