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Old August 17th, 2012, 02:44 PM   #1
desertpunk
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BALTIMORE | Exelon Tower | 116m | 350ft | 23 fl | U/C

Exelon Energy Headquarters, Baltimore Maryland



Baltimore Sun

Quote:
New energy firm headquarters could alter city skyline
Exelon not revealing list of sites, but local brokers identify several possibilities

By Hanah Cho, The Baltimore Sun

7:14 p.m. EST, December 24, 2011
Exelon Corp.'s pledge to build a new Baltimore headquarters as part of its proposed buyout of Constellation Energy could alter the city's skyline, injecting fresh life into the traditional downtown business district or further expanding the waterfront corporate center east of the harbor.

While Exelon is not revealing its short list of possible sites for the new building, local real estate brokers and others have identified several attractive potential locations, including some in the core business center and one between Harbor East and Fells Point.

The proposed Constellation-Exelon merger still requires approval from Maryland regulators and others.

The city's major office construction projects in recent years have included the Thames Street Wharf building anchored by Morgan Stanley and the Legg Mason Tower on the Harbor East waterfront. In the central business district, the last new skyscraper, at 500 E. Pratt St., was completed in 2004.

Some see a new building for Exelon as a spur to economic growth in the city.

"Having a new corporate headquarters in downtown Baltimore will stimulate all kinds of growth," said Rod Easter, president of the Baltimore Building and Construction Trades Council, a coalition of 15 construction unions that is expected to be involved in building the new headquarters. "I just see it as an economic boost."

But others fear that a new structure would hurt the city's business center by creating an excess supply of office space. The vacancy rate for the downtown central business district now hovers at 19 percent; 10 percent is considered healthy.

"A new headquarters building quite frankly makes no economic sense to either the shareholders of the company or the economic vitality of downtown Baltimore," said Robert Manekin, managing director and principal at the commercial brokerage firm Colliers International in Baltimore.

Many developers responded to a request for proposals that Exelon's commercial real estate broker put out in August. By late October, Exelon had picked proposals from nine developers.

Since then, the Chicago energy giant has narrowed the field, though the company would not reveal details about the sites being considered because it is in active negotiations, Exelon spokeswoman Judith Rader said.

One thing is clear: The new headquarters will be big. The request for proposals asked for 350,000 to 375,000 square feet.

Even though the combined company would be based in Chicago, the new Baltimore headquarters would house the merged entity's power-selling and renewable energy businesses, which are expected to grow.

Exelon said it would either assume the project itself or find a developer willing to undertake the construction by agreeing to a 15-year lease. "We will announce our selected site after the merger closes," Rader said in a statement.

One local developer said he had submitted a fully financed proposal to build a 400,000-square-foot, 25-story building downtown.

[...]
Ultimately Exelon chose a site at Harbor Point, a major 3 million sq. ft. mixed-use development along the Baltimore Harbor waterfront:

Quote:
By Hanah Cho and Steve Kilar, The Baltimore Sun

1:12 a.m. EST, February 2, 2012
Harbor Point, a development project led by bakery magnate and developer John Paterakis Sr., will be the site of the headquarters for the combined Constellation-Exelon company if the proposed merger is completed, the energy giants announced Wednesday.

The prospect of adding a new office tower to Baltimore's skyline excited city officials and the development community. But some were disappointed that the companies chose a site between Harbor East and Fells Point, rather than in the central business district. Others questioned whether the burgeoning waterfront area can handle all of the recent development.

http://www.baltimoresun.com/news/bre...,5161327.story

http://www.baltimorebrew.com/2012/02...like-suburbia/


http://articles.baltimoresun.com/201...elon-president

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Old April 6th, 2013, 06:43 AM   #2
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Exelon HQ construction slated for late 2013



Quote:
Apr 1, 2013, 10:35am EDT Updated: Apr 1, 2013, 11:08am EDT
Kevin LittenStaff Reporter- Baltimore Business Journal

Construction of the new Exelon Corp. headquarters at Harbor Point is set “to get under way in late 2013,” according to a March 25 filing with the state Public Service Commission. According to the filing, Exelon recently completed negotiations with the developer, Beatty Development, for the Harbor Point site.

---

Developer Michael S. Beatty told the Baltimore Business Journal in January that he expected construction would begin in late spring. Paul Adams, an Exelon spokesman, said he could not immediately comment on the time discrepancy between Beatty’s January construction timeline and the one laid out in the March 25 filing.

On March 28, the Baltimore Development Corp. recommended the City Council approve a controversial $107 million tax increment financing proposal for the 28-acre Harbor Point development that Beatty defended as needed for private infrastructure development the city would have to construct if it wants to see buildings on the site.

Plans for Exelon’s Baltimore headquarters have already begun moving through the approval process. In January, the Urban Design and Architecture Review Panel saw plans showing the building as a 23-story, 350-foot building that includes a brick facade and a five-level parking garage.

.
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Old April 6th, 2013, 12:33 PM   #3
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hm, I would prefer a taller and slender design.
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Old April 6th, 2013, 03:18 PM   #4
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Could be worse. Been a while since Baltimore saw an office building of this size go up.
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Old September 12th, 2013, 01:54 AM   #5
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Green light!

Quote:
Originally Posted by NYC007 View Post
HARBOR POINT $107M TAX DEAL GETS FINAL OK AFTER MONTHS OF CONTROVERSY
Exelon's regional HQ set to break ground in fall
by Kevin Litten

http://www.bizjournals.com/baltimore...ets-final.html

The long-debated $107 million tax increment financing deal for Harbor Point passed the City Council on Monday by a vote of 11-3, setting up the largest waterfront development deal in city history to move forward.

Groundbreaking on Exelon Corp.’s headquarters building, the largest on the 27-acre site, is now set to move forward this fall with the council’s approval of a plan to sell bonds to pay for infrastructure on the former Allied Signal chemical plant site. Mayor Stephanie Rawlings-Blake noted that Monday’s passage marked a major turning point for the chromium-polluted land after more than $100 million of environmental cleanup efforts since the plant’s demolition more than 20 years ago.

“Harbor Point means a fresh start for a long-blighted and vacant site along our city’s waterfront,” Rawlings-Blake said. “It means an opportunity to keep growing our city by more than 2,000 new residents towards our goal of making Baltimore home to 10,000 more families. And it benefits our current residents including nearly 10 acres of public parks and promenades.”

[...]

Previous unsuccessful amendments had sought to limit the amount of spending on parks. The project includes more than $50 million for green space, a product of negotiations with nearby neighborhoods.

But Beatty Development officials argued during the development process that they had already reduced the size of the TIF from $150 million by removing a massive underground parking garage from the publicly-backed financing plan. The green space, they said, was a requirement in the project’s Planning Department legislation that could not be developed without the TIF.

Under the tax increment financing deal, the bonds floated to pay for infrastructure will be paid using taxes that would have been collected on the new development at the site.

The rest of the TIF is being used for critical infrastructure such as roads, sidewalks and bridges.

The three council members who voted against Monday’s TIF were Bill Henry, Sharon Middleton and Stokes.
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Old September 12th, 2013, 02:31 AM   #6
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Nice fill.
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Old September 12th, 2013, 09:20 AM   #7
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Nice filler, unfortunately it has huge site setbacks. At least the landscaping will look good, according to the renders...
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Old September 17th, 2013, 05:53 AM   #8
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Quote:
Originally Posted by towerpower123 View Post
Nice filler, unfortunately it has huge site setbacks. At least the landscaping will look good, according to the renders...
Baltimore wants setbacks or lower heights along the Inner Harbor to preserve views from the city core. Not a problem thus far since few skyscrapers have been proposed there over the past 30 years and none built.
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Old December 23rd, 2013, 05:11 PM   #9
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JPMorgan Chase to invest $67 million in Harbor Point

Quote:
City's Board of Finance approves $36M in bonds for the development



10:39 p.m. EST, December 16, 2013

A subsidiary of banking giant JPMorgan Chase & Co. will invest $67 million in Baltimore's Harbor Point development for a 90 percent stake in the 23-story skyscraper that is the planned regional headquarters of energy firm Exelon Corp., city officials said.

The massive $1.8 billion waterfront project, planned for a former chemical plant site between Fells Point and Harbor East, also will be supported by $178 million in construction loans from M&T Bank to the developer, Michael S. Beatty, officials said.

City officials revealed the banks' roles as they voted Monday to issue $36 million in tax-increment financing bonds. Beatty will purchase the bonds to help pay the M&T Bank loan.

"This project has been held up," Stephen M. Kraus, the city's chief of treasury management, told the city finance board. "This developer needs to move."

[...]
Read more: http://www.baltimoresun.com/news/mar...#ixzz2oJLOPZEc


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Old July 1st, 2014, 07:03 AM   #10
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Quote:
Originally Posted by Balmurfan View Post
By Timothy B. Wheeler, The Baltimore Sun
8:24 p.m. EDT, May 22, 2014

Environmental regulators said Thursday that they gave the final go-ahead for construction of the Harbor Point project, allowing the developer to begin driving pilings next week for a new Exelon Corp. office tower at the former factory site laced with toxic chemicals.

Beatty Development Co. plans to start excavating next week through layers of clean soil, clay and gravel that cover contaminated ground at the one-time chromium processing plant. Pile driving would begin in June and is expected to be finished by this fall.
"The chromium levels should not become an issue, but if they do become an issue, we are prepared to take increasing measures, up to stopping the work,'' said Horacio Tablada, chief of land management for the state environment department.

The ground at the 27-acre site is tainted with high levels of hexavalent chromium, left behind when the processing plant shut down in the 1980s. That form of chromium can cause cancer if inhaled. The contamination has been contained under five feet of clean material, but the developer needs to open up the cap in order to drive more than 1,100 pilings to support the Exelon tower on the harborfront site. "We will abide by the threshold values established by the agencies, said Marco Greenberg, vice president at Beatty Development.

Rising 20 stories, the $165 million building will be constructed by Armada Hoffler, a Virginia-based real estate investment trust. It is slated to include more than 100 apartments and about 41,000 square feet of commercial space in addition to the Exelon offices. It is the first part of Beatty's larger development vision for Harbor Point, which includes other office and residential buildings as well as a pedestrian promenade along the harbor.

Beatty had hoped to break ground on the Exelon regional headquarters in mid-October, but in November regulators rejected the developer's plans to protect the public from contamination contained beneath the surface. The developer has been in negotiations with regulators since to resolve the issues. The last hurdle involved setting a limit on how much highly toxic chromium could get into the air from the construction site.

[...]

[email protected]

Copyright © 2014, The Baltimore Sun


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Old July 1st, 2014, 07:07 AM   #11
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The 'loud pounding' of Harbor Point construction is about to begin

Quote:
Jun 3, 2014, 1:57pm EDT Updated: Jun 3, 2014, 3:06pm EDT

Beatty Development Group LLC is notifying neighbors of the 27-acre Harbor Point site that heavy construction activities will start by mid-June on the Exelon Corp. regional headquarters.

In a fact sheet being distributed to neighbors, the company led by Harbor East developer Michael Beatty said “loud pounding sounds” will soon be heard in the area as workers begin driving piles into the ground. The piles help form the foundation for the 20-story, 648,000-square-foot building.

Once it begins, construction is slated to take place between 7 a.m. and 7 p.m. on the site, and neighbors should expect to see increased truck traffic on Caroline Street, Beatty Development said. There will also be temporary road closures at times on Lancaster Street, Central Avenue and Caroline Street.

[...]
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Old September 26th, 2014, 07:37 PM   #12
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7/29

Quote:
Originally Posted by rockin'.baltimorean View Post
taken this mornin'.....








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Old September 26th, 2014, 07:44 PM   #13
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Nice! Extend the highrise line all the way down to the port!
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Old April 13th, 2015, 10:04 AM   #14
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Old April 13th, 2015, 10:06 AM   #15
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2/10

http://www.bizjournals.com/baltimore...y-east-of.html

Quote:
Originally Posted by NYC007 View Post
Here's a look at 3 big projects underway east of the Inner Harbor
Baltimore Business Journal
Feb 10, 2015, 10:35am EST
Kevin Litten


The Exelon Corp. tower at Harbor Point is beginning to come out of the ground at the 27-acre site.


Armada Hoffler has already begun constructing the eight-story addition atop the Four Seasons hotel that will house as many as 83 condominiums.

Southeast Baltimore has the most visible signs of the city's construction boom with three waterfront projects underway that have been a long time coming.

The furthest east is Sagamore Development Co.'s conversion of the 100-year-old Recreation Pier in Fells Point, which will be turned into a 128-room hotel. Sagamore is owned by Under Armour Inc. CEO Kevin Plank, whose firm has proposed a "selective demolition" of the over-water pier and a rehabilitation of the brick-faced "head house," which sits on dry land.

With major progress on demolition at the pier, all that's left of the above-water portion is the steel skeleton that once held up the decrepit walls.

Sagamore officials have told community groups that the steel structure is in good condition and will remain on the base; the underwater pilings that hold up the pier are being replaced.

Sagamore in June acquired the formerly city-owned property for $3.4 million after receiving approvals that would exempt the company from having to build a promenade around the building. In exchange for the community's support for the waiver to a previously approved promenade plan, the company has agreed to major improvements along the south side of Thames Street, including a widening of the sidewalk.

Just west of the Recreation Pier is the 27-acre peninsula known as Harbor Point, where Beatty Development Co. has Exelon Corp.'s 20-story regional headquarters under construction. The building, which also includes more than 100 apartments and first-floor retail, is the first to get underway at the former site of the Allied Chemical plant that produced chromium and prompted a major cleanup that led environmental regulators to clear the area for new construction.

Several stories are now coming out of the ground at Harbor Point and a large crane has been over the site for several months. The building is expected to be completed in mid-2016.

Within walking distance of the Exelon tower is the eight-story Four Seasons addition that will house condominiums above the luxury hotel. The hotel, which was developed by H&S Properties Development Corp., was always envisioned as a larger tower, but the developers went conservative with the building early on.

A crane has been on the site since November, but there's now visible progress on the building as workers begin to raise the first level of the addition.

A new plan to add to the tower emerged after potential buyers expressed strong interest in buying apartments above the tower. The building is expected to reach the height of the Legg Mason tower. Harbor East Management has not disclosed a cost for the project or a timeline for completing it.
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Old April 13th, 2015, 10:08 AM   #16
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2/21

Quote:
Originally Posted by NYC007 View Post

Quote:
Originally Posted by JeffCantonite21224 View Post
Another tower crane started going up in Harbor Point yesterday. Not sure if it's for the Exelon building or the apartments next door. I'll have to get closer to investigate.

That will make 3 tower cranes in close proximity!






3/17

Quote:
Originally Posted by GrayMatter View Post


I had a meeting in the Legg Mason building today and got a pretty good view of the harbor point project. Enjoy!



At far right:


Harbor East- Baltimore, MD by Mike Keller Photo, on Flickr
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Old April 13th, 2015, 10:09 AM   #17
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4/12


Lost Language of Cranes by rclatter, on Flickr


Harbor Construction by rclatter, on Flickr
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Old December 28th, 2015, 05:26 AM   #18
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Old December 28th, 2015, 05:26 AM   #19
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Old December 28th, 2015, 05:26 AM   #20
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12/09


Harbor East and Harbor Point Baltimore from Federal Hill by Will, on Flickr
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