daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > World Development News Forums > General Urban Developments > DN Archives



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Closed Thread

 
Thread Tools
Old February 13th, 2007, 05:43 PM   #821
wada_guy
Oh say can YOU see?
 
wada_guy's Avatar
 
Join Date: Feb 2005
Location: Baltimore
Posts: 782
Likes (Received): 0

Ka Ching $$$$$ At 550,000 sq. feet, this will be one of the largest office buildings downtown. In addition, most of the suburban employees will be moving to the city too. WOW!

Legg Mason moving headquarters to Harbor East
Baltimore Business Journal - 10:23 AM EST Tuesday, February 13, 2007by Daniel J. SernovitzStaff

Legg Mason Inc. said Tuesday it signed a 15-year lease agreement for its own 24-story building at the waterfront Harbor East complex and will leave its signature office tower at 100 Light Street.

Company spokeswoman Mary Athridge said the move was not motivated by building or parking concerns at Legg's current space -- rather, the global money management firm sought a "fresh start" for its workers. Baltimore City officials tried last year to assemble enough room by Legg's Light Street building for a new, 500-space parking garage but its plans fell through.

Legg (NYSE: LM) employs about 1,000 workers, including as many as 300 technology workers in Owings Mills, and Athridge said nearly all will move to Harbor East. She said it is possible a small number of workers will remain in Owings Mills.

"I think it will be great to kind of have a fresh start," she said, noting that Legg's commitment to Baltimore never wavered. "That's Legg Mason's heritage. You obviously want to preserve that going forward."

Harbor Point is a mixed-use development being developed by H & S Properties Development Corp. and Struever Bros. Eccles & Rouse that, once completed, will include more than 500,000 square feet of retail space, 1 million square feet of office space, a Four Seasons Hotel and about 130 condominium units.

H & S Properties Vice President Michael Beatty said in an interview Tuesday he worked closely with Legg Mason officials to design a new, signature office tower for the company. Legg will be leasing 400,000 square feet of the 550,000-square-foot building.

"The building was 100 percent custom-designed for this tenant," Beatty said. "Obviously, they're clearly a phenomenal tenant for the city of Baltimore and the state."

He said the company's decision to move to Harbor Point helped to advance construction plans for the 38-acre development, which has been delayed several times.

The complex is expected to cost more than $300 million to build and is scheduled to be completed by the end of 2009, which is when Legg is scheduled to move into its new space.

Last edited by wada_guy; February 13th, 2007 at 05:50 PM.
wada_guy no está en línea  

Sponsored Links
Old February 13th, 2007, 05:54 PM   #822
sdeclue
Registered User
 
Join Date: Mar 2006
Posts: 879
Likes (Received): 47

Hmm, I'm not sure what to think of this. On one hand, I'm pretty sad that a big 40-story building is going to be signficantly empty and our tallet building will no longer have the "Legg Mason" sign adorning it.

A new signature tower is great, but 24 stories is a lot less than I expected. Legg was much more noticed in a 40 story building in the CBD than it will be in a 24-story building in Harbor East.

On another note, this story says the Four Seasons is in Harbor Point. I thought for sure it is in Harbor East. Does that mean the new Legg building will be in Harbor Point or Harbor East?
sdeclue no está en línea  
Old February 13th, 2007, 06:04 PM   #823
getontrac
Registered User
 
Join Date: Jun 2006
Location: Mt. Vernon in Baltimore
Posts: 907
Likes (Received): 0

See, I said there wasn't a false dilemma (more parking or move out).

But, WHERE is this building, WHAT is it?

I didn't know of any tall buildings for Harbor Point.

Why couldn't they built a new 550,000 SF building in the CBD--like One Light? (mixed feelings, but they're staying ).

Nate
getontrac no está en línea  
Old February 13th, 2007, 06:20 PM   #824
waj0527
Registered User
 
waj0527's Avatar
 
Join Date: Apr 2004
Location: Baltimore
Posts: 2,599
Likes (Received): 484

Im really excitied about the changes to Pratt Street. Im really hoping that the finished project looks as grand as Michigan Ave. in Chicago, NY Ave. in Washington or 5th Ave in New York. It may be difficult to envision now, but I could see it.
waj0527 está en línea ahora  
Old February 13th, 2007, 06:20 PM   #825
Brian21
Registered User
 
Brian21's Avatar
 
Join Date: Jun 2003
Location: Baltimore
Posts: 917
Likes (Received): 0

Well first off...I'm definitely glad they are staying in the city. However, I'm as confused as Nate Are they saying that the new tower will be a part of the Four Seasons Complex? or will it be an added tower in combination with the Four Seasons complex?

Anyway, yeah I would have thought that they would at least do another 40 story tower for Legg Mason. But hey lets see the renderings of this new tower. Also, has there been any (new) news concerning the big mystery company that may be moving here? I don't think its a coincidence that all of this is happening around the same time.
__________________
Brian
Brian21 no está en línea  
Old February 13th, 2007, 06:25 PM   #826
getontrac
Registered User
 
Join Date: Jun 2006
Location: Mt. Vernon in Baltimore
Posts: 907
Likes (Received): 0

Looks like Naing is on the move again......


From the Baltimore Sun

N. Balto. hotel due face-lift after sale
D.C. firm pays $15 million for Doubletree Inn at Colonnade, near Hopkins



By June Arney
sun reporter

February 13, 2007





The Doubletree Inn at The Colonnade in North Baltimore has been purchased by Washington-based RWN Development Group LLC and will undergo a $3 million face-lift, according to Ventura Commercial Mortgage Company, which handled the deal.

The property, which will convert from a Doubletree affiliate to a full franchise operation, was purchased from Bresler & Reiner Inc., a Washington development company, for $15 million, according to James P. Ventura, president of the commercial mortgage company.

Bresler & Reiner is largely an owner of apartments and office space, Ventura said. "Having one or two hotels in your portfolio just really doesn't make sense," he said.

The full Doubletree franchise status will impose additional standards on the hotel and provide access to the Doubletree reservation system, Ventura said.

The Doubletree Inn at The Colonnade is a 125-room hotel on University Parkway near the Johns Hopkins University's Homewood campus and about four miles from the central business district and Inner Harbor. Constructed in 1989, the facility includes meeting space, office and retail space and a public parking garage. In addition, there are 122 privately owned residential condominiums on the top seven floors of the building.

The Colonnade also is home to the recently opened Spice Company restaurant. That restaurant space previously housed the Polo Grill, Four West and the Club at the Colonnade.

Planned renovations to the hotel will include upgrades to the facade, lobby and hotel rooms, Ventura said.

The hotel consistently has maintained occupancy levels of 70 to 75 percent, he said.

"Obviously, it's always a big draw for Hopkins and people who want to be away from the crowds of Baltimore," Ventura said. "It's the big place to go if you're doing anything at Hopkins."

The hotel attracts speakers, professors, parents of Hopkins students, researchers and surgeons who are visiting the area and people attending lacrosse events, Ventura noted.



[email protected]
Copyright © 2007, The Baltimore Sun | Get Sun home delivery

---

Nate
getontrac no está en línea  
Old February 13th, 2007, 06:28 PM   #827
wada_guy
Oh say can YOU see?
 
wada_guy's Avatar
 
Join Date: Feb 2005
Location: Baltimore
Posts: 782
Likes (Received): 0

Mixed feelings? What more do you people want?

You've got a major company committing to the city for 15 more years.

They are brining with them over 1,000 new jobs.

They are responsible for a huge new building being constructed on what is now waste land.

That construction will lead to even more construction around it as the retail and residential projects proceed in tandum.

And you all have mixed feelings. Are you all nuts? LOL My god, this is nothing but great news. Everyone should be celebrating because those 1,000 new employees may want to live downtown, and they will shop downtown, and they will eat downtown. This is great news and will lead to yet another tower on the skyline. I certainly don't have mixed feelings about this.

I wonder if this is what the BDC was meeting about behind closed doors?
wada_guy no está en línea  
Old February 13th, 2007, 06:28 PM   #828
MasonsInquiries
B-MORE than u strive for!
 
Join Date: Jul 2005
Location: Baltimore/Columbia, Md.
Posts: 2,257
Likes (Received): 13

Quote:
Originally Posted by getontrac View Post
See, I said there wasn't a false dilemma (more parking or move out).

But, WHERE is this building, WHAT is it?

I didn't know of any tall buildings for Harbor Point.

Why couldn't they built a new 550,000 SF building in the CBD--like One Light? (mixed feelings, but they're staying ).

Nate
if you drive along fleet street between the sylvan learning center building and the eden street condos building, there's an undeveloped block between the two where H&S Bakery still remains. my guess is that an office tower might be developed in that spot.

Last edited by MasonsInquiries; February 13th, 2007 at 06:43 PM.
MasonsInquiries no está en línea  
Old February 13th, 2007, 06:31 PM   #829
getontrac
Registered User
 
Join Date: Jun 2006
Location: Mt. Vernon in Baltimore
Posts: 907
Likes (Received): 0

Quote:
Originally Posted by Brian21 View Post
Well first off...I'm definitely glad they are staying in the city. However, I'm as confused as Nate Are they saying that the new tower will be a part of the Four Seasons Complex? or will it be an added tower in combination with the Four Seasons complex?

Anyway, yeah I would have thought that they would at least do another 40 story tower for Legg Mason. But hey lets see the renderings of this new tower. Also, has there been any (new) news concerning the big mystery company that may be moving here? I don't think its a coincidence that all of this is happening around the same time.
This would clearly be Harbor Point, as there is no way it can be added to the Four Seasons (not without creating a huge, montrous building and setting the whole thing back). Remember, Four Seasons is custom designed, too.

This would mean that Harbor Point office space would be dominated by Legg Mason and that significantly reduces the remainder to be leased there (over half, it appears.)

Watch everybody with enough change in their pockets to vye for 100 Light, and vacate more Class B space (whatever that is!)

Nate
getontrac no está en línea  
Old February 13th, 2007, 06:32 PM   #830
waj0527
Registered User
 
waj0527's Avatar
 
Join Date: Apr 2004
Location: Baltimore
Posts: 2,599
Likes (Received): 484

Quote:
Originally Posted by wada_guy View Post
Ka Ching $$$$$ At 550,000 sq. feet, this will be one of the largest office buildings downtown. In addition, most of the suburban employees will be moving to the city too. WOW!

Legg Mason moving headquarters to Harbor East
Baltimore Business Journal - 10:23 AM EST Tuesday, February 13, 2007by Daniel J. SernovitzStaff

Legg Mason Inc. said Tuesday it signed a 15-year lease agreement for its own 24-story building at the waterfront Harbor East complex and will leave its signature office tower at 100 Light Street.
Im so confused. What 24-story building is this? Are they moving into the office component of The Vue? This article references Harbor East and Point as if they are one in the same.

I dotn like the fact that they're moving out of the CBD/Financial District, but at least they're staying in the city. Harbor East traffic just got a lot worse. LOL.
waj0527 está en línea ahora  
Old February 13th, 2007, 06:36 PM   #831
getontrac
Registered User
 
Join Date: Jun 2006
Location: Mt. Vernon in Baltimore
Posts: 907
Likes (Received): 0

To respond to Wada:

Well, this means they are leaving the downtown for the rim (less preferable), and now we have vacant space in a premier office building. So, we kind of shifting around again in favor of waterfrontness. Why don't they just build offices under water?

Mason:

Well, according to BBJ, it certainly sounded like they were refering to the discrete space of Harbor Point and not any of H&S remaining holdings in proper Fells Point next to the Eden. Although, these newspapers mangage to get stuff wrong FAR too often these days....

Nate
getontrac no está en línea  
Old February 13th, 2007, 06:39 PM   #832
Silver Springer
The Flagship State
 
Silver Springer's Avatar
 
Join Date: Feb 2006
Location: Maryland
Posts: 1,521
Likes (Received): 8

Quote:
Originally Posted by wada_guy View Post
Mixed feelings? What more do you people want?

You've got a major company committing to the city for 15 more years.

They are brining with them over 1,000 new jobs.

They are responsible for a huge new building being constructed on what is now waste land.

That construction will lead to even more construction around it as the retail and residential projects proceed in tandum.

And you all have mixed feelings. Are you all nuts? LOL My god, this is nothing but great news. Everyone should be celebrating because those 1,000 new employees may want to live downtown, and they will shop downtown, and they will eat downtown. This is great news and will lead to yet another tower on the skyline. I certainly don't have mixed feelings about this.

I wonder if this is what the BDC was meeting about behind closed doors?
Wake up people, embrace and congradulate! Marylanders...always being a bunch of Debbie Downers.
__________________
SILVER SPRING SCENE 3.0
Silver Springer no está en línea  
Old February 13th, 2007, 06:40 PM   #833
MasonsInquiries
B-MORE than u strive for!
 
Join Date: Jul 2005
Location: Baltimore/Columbia, Md.
Posts: 2,257
Likes (Received): 13

Quote:
Originally Posted by wada_guy View Post
Mixed feelings? What more do you people want?

You've got a major company committing to the city for 15 more years.

They are brining with them over 1,000 new jobs.

They are responsible for a huge new building being constructed on what is now waste land.

That construction will lead to even more construction around it as the retail and residential projects proceed in tandum.

And you all have mixed feelings. Are you all nuts? LOL My god, this is nothing but great news. Everyone should be celebrating because those 1,000 new employees may want to live downtown, and they will shop downtown, and they will eat downtown. This is great news and will lead to yet another tower on the skyline. I certainly don't have mixed feelings about this.

I wonder if this is what the BDC was meeting about behind closed doors?
i agree. we need to be thankful that they're still going to remain in the city for 15 more years. we can't have EVERY development soar.

Last edited by MasonsInquiries; February 13th, 2007 at 06:51 PM.
MasonsInquiries no está en línea  
Old February 13th, 2007, 06:45 PM   #834
getontrac
Registered User
 
Join Date: Jun 2006
Location: Mt. Vernon in Baltimore
Posts: 907
Likes (Received): 0

I'm simply refering to scenarios reminesent of the Renaissance Center in Detroit.....

If we can get new business into 100 Light, this is good news, if not, it's neutral to less favorable.

Bad news would be downsizing/leaving.

That's all--I simply want the core to stay healthy, in demand, valued, and vibrant. As much as I'm happy to see IHE/HP grow, I care much more for the old downtown.

Nate
getontrac no está en línea  
Old February 13th, 2007, 06:53 PM   #835
Xander21
B-More Believer
 
Xander21's Avatar
 
Join Date: May 2006
Location: Canton
Posts: 215
Likes (Received): 10

So what are the chances another corporation moves to Baltimore now and sets up headquarters in the newly vacated tower? I can't imagine office space like this opens up every day.

What are your predictions for whose name we'll see up on 100 Light by the end of the decade?
__________________
"I like Baltimore - despite its slicked-up touristy waterfront it remains a seedy old port city, reformable only to a negligible degree."
-- Larry McMurtry
Xander21 no está en línea  
Old February 13th, 2007, 06:59 PM   #836
getontrac
Registered User
 
Join Date: Jun 2006
Location: Mt. Vernon in Baltimore
Posts: 907
Likes (Received): 0

I don't know...

Maybe they are moving to the 4 Seasons site, based on info from the other thread. It certainly isn't clear from the articles. Again, maybe that's been the hold-up with that project.

Nate
getontrac no está en línea  
Old February 13th, 2007, 07:02 PM   #837
sdeclue
Registered User
 
Join Date: Mar 2006
Posts: 879
Likes (Received): 47

Ok, I think the Baltimore Sun article clears everything up. They are moving into a component of the Four Seasons, which means not only are they moving out of the CBD and into a tower that is only 24 stories, but the tower was already being built anyway, so we are not getting a new tower really. I know it's big the city is bringing in jobs from Owings Mills but this is pretty disappointing. We can't afford to lose huge companies out of our CBD.

Four Seasons was considering an office component which is why they said they had not broken ground, so obviously it was because of Legg. The confusing thing is that you would have expected them to add significant additional floors but apparently they are not.

The BBJ article was extremely poorly written.
sdeclue no está en línea  
Old February 13th, 2007, 07:09 PM   #838
MasonsInquiries
B-MORE than u strive for!
 
Join Date: Jul 2005
Location: Baltimore/Columbia, Md.
Posts: 2,257
Likes (Received): 13

Quote:
Originally Posted by Xander21 View Post
So what are the chances another corporation moves to Baltimore now and sets up headquarters in the newly vacated tower?
there's been talk of microsoft possibly moving here, but we'll see. anything's possible. we gotta' remain optimistic. stayed tuned..........
MasonsInquiries no está en línea  
Old February 13th, 2007, 07:11 PM   #839
Gsol
Registered User
 
Join Date: Jun 2004
Location: New York, NY
Posts: 2,082
Likes (Received): 311

This story is a bit confusing. Do they mean Harbor Point or Harbor East? The facts seem to mention the site interchangeably. I thought Harbor Point was pretty well planned out and they could not build such a large heavy structure on that site. Are they talking about an entirely new site or is it an office component of the Four Seasons site? They are talking about reconfiguring that project.

I think Legg Mason could have put their building in the CBD and still have a water view. How about on top of Lockwood Place? Wasn't that developer considering erecting a tower over the retail section? Can you imagine 550sq ft above that?
Gsol no está en línea  
Old February 13th, 2007, 07:18 PM   #840
LilMoeJoeJoe
Registered User
 
Join Date: Jun 2004
Posts: 262
Likes (Received): 20

Quote:
Originally Posted by wada_guy View Post
Ka Ching $$$$$ At 550,000 sq. feet, this will be one of the largest office buildings downtown. In addition, most of the suburban employees will be moving to the city too. WOW!

Legg Mason moving headquarters to Harbor East
Baltimore Business Journal - 10:23 AM EST Tuesday, February 13, 2007by Daniel J. SernovitzStaff

Legg Mason Inc. said Tuesday it signed a 15-year lease agreement for its own 24-story building at the waterfront Harbor East complex and will leave its signature office tower at 100 Light Street.

Company spokeswoman Mary Athridge said the move was not motivated by building or parking concerns at Legg's current space -- rather, the global money management firm sought a "fresh start" for its workers. Baltimore City officials tried last year to assemble enough room by Legg's Light Street building for a new, 500-space parking garage but its plans fell through.

Legg (NYSE: LM) employs about 1,000 workers, including as many as 300 technology workers in Owings Mills, and Athridge said nearly all will move to Harbor East. She said it is possible a small number of workers will remain in Owings Mills.

"I think it will be great to kind of have a fresh start," she said, noting that Legg's commitment to Baltimore never wavered. "That's Legg Mason's heritage. You obviously want to preserve that going forward."

Harbor Point is a mixed-use development being developed by H & S Properties Development Corp. and Struever Bros. Eccles & Rouse that, once completed, will include more than 500,000 square feet of retail space, 1 million square feet of office space, a Four Seasons Hotel and about 130 condominium units.

H & S Properties Vice President Michael Beatty said in an interview Tuesday he worked closely with Legg Mason officials to design a new, signature office tower for the company. Legg will be leasing 400,000 square feet of the 550,000-square-foot building.

"The building was 100 percent custom-designed for this tenant," Beatty said. "Obviously, they're clearly a phenomenal tenant for the city of Baltimore and the state."

He said the company's decision to move to Harbor Point helped to advance construction plans for the 38-acre development, which has been delayed several times.

The complex is expected to cost more than $300 million to build and is scheduled to be completed by the end of 2009, which is when Legg is scheduled to move into its new space.

Now would be a good time for the city to embark on a national search to find companies that are interested in relocating or are unhappy with their current lease. The 100 Light Street building would be great for a corporate headquaters.

Also, what's the proability of the new Legg Mason building having a hat on top of it? I'll say 98%
LilMoeJoeJoe no está en línea  


Closed Thread

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 08:27 AM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu