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Old February 14th, 2007, 07:22 AM   #901
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"Speculation abounded in recent weeks that Legg would move from its front-and-center spot downtown. Talk was fueled not only by the bylaw change, but also by a long closed-door meeting of the Baltimore Development Corp.'s board that Brodie confirmed Tuesday was about Legg."


While the retention/relocation of legg is GREAT I was hoping the large company that BDC was talking about during the closed door meetings was a company that didn't have a presence in Baltimore, but was looking to move here. I guess that can still happen if the BDC takes Lilmoejoejoe advice and does everything it can to persuade another "large" company to make the current Legg tower it's new home.

With that said I love the new 4 seasons & legg towers!!!
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Old February 14th, 2007, 08:18 AM   #902
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Here's the important paragraph from the Sun article...

Legg's departure from the Light Street tower will empty 23 of the 35 floors there. Not only is the company leaving, but the former pieces of Legg that are subletting space from the company are on track to do so as well. A division bought by Stifel Nicolaus & Co. of St. Louis said in November that it will move to the nearby One South Street building. Citigroup, which got Legg's brokerage in a business swap, is looking "seriously" at other downtown space as well, Brodie said.

Two of the three leases resulting from the Citigroup swap are over. Now's the last. Here's to the same success we've been having!

If a tenant could take most of those 23 available floors -- a total of about 390,000 sf -- that could hold 1,000-1,300 jobs for the city. Roughly speaking, that's close to 1% of dowtown's total employment -- a significant figure if you think about it.
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Old February 14th, 2007, 09:36 AM   #903
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Quote:
Originally Posted by Javalady1 View Post
Harlem: Where do you get this stuff? Nevermind, I think I know.

Everyone else: How does the ban a member process work? We should not allow the members of the forum to be continually subjected to this abuse. Please, let's get this started.
It's simple...ignore him/her, and harlem will go away. Just don't respond. If nobody reacts, it is no longer fun for him/her.
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Old February 14th, 2007, 09:45 AM   #904
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Originally Posted by MasonsInquiries View Post
from this (24 stories and 18 stories).........




to this (36 stories and 24 stories)..........


MAJOR upgrade i would say.
This is absolutely gorgeous..less brick and a much more classy, modern look. In the blink of an eye (relatively speaking) an entire new skyline has appeared in Baltimore.

Just think how the city will look when 10 Inner Harbor, 300 Pratt, and this are completed.

And the concern about Legg vacating their tower may be misplaced. It's going to be 2+ years before this happens, giving quite a while to market a large block of space in a signature building. Could be just the opportunity another company might be looking for.
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Old February 14th, 2007, 11:20 AM   #905
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Ground Breaking

The Sunpapers said it will break ground in March after getting the city's approval.
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Old February 14th, 2007, 11:39 AM   #906
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Legg to move to Harbor East
Boost seen for expansion of downtown
By Jamie Smith Hopkins and June Arney
Sun reporters
Originally published February 14, 2007



Money manager Legg Mason Inc. said yesterday that it will leave its Light Street skyscraper for Baltimore's Harbor East when its lease expires in 2009 - a major boost for the accelerating expansion of downtown beyond the boundaries of the old central business district.

Legg expects to move nearly all of its roughly 1,000 Baltimore-area employees to a mixed-use complex that H&S Properties Development Corp. will build in the fast-developing Harbor East, a once-industrial area transformed in recent years into a cluster of upscale hotels, residences, offices and retail. The move will include 200 to 300 workers now based in Owings Mills as well as the 700 or so downtown.

The company said it has signed a 15-year agreement to lease up to 400,000 square feet, most of the 24-story office tower that H&S Properties is building. The complex will include a Four Seasons Hotel topped by condos and a 1,200-space parking garage under the twin buildings.

Legg plans to move its headquarters there in the summer of 2009, creating a major vacancy in its former home. Legg leases well over half of 100 Light Street, the tallest building in the city and a signature part of the downtown skyline. The building's owners and civic leaders are optimistic about finding new tenants when the time comes.

Yesterday's announcement was met with cheers by local officials and civic leaders, who are delighted that one of Baltimore's largest employers plans to stay in the city - and bring in more jobs. M.J. "Jay" Brodie, president of the Baltimore Development Corp., the city's economic development arm, said it is one of the most exciting economic development decisions in "a very long time."

"It just really confirmed that people see Baltimore as a thriving city with energy," said Mayor Sheila Dixon.

Said James W. Hirschmann III, the company's president and chief operating officer: "We had a serious preference to stay in the city from the outset, although we did have the option of relocating out to Owings Mills."

Legg changed its corporate bylaws recently to delete the requirement that its headquarters be located in Baltimore, creating the impression that it might leave.

Its move eastward marks a significant and symbolic shift for Baltimore. When Legg's current building on Light Street opened in 1973 as the then-USF&G Corp. headquarters, it was the first major private project in the development of the Inner Harbor - a sign that the old blue-collar waterfront really could be reimagined as a white-collar destination.

Now Legg will become the largest employer in the redeveloping Harbor East, joining businesses such as university operator Laureate Education Inc. and investment firm Brown Advisory.

"It's not your grandmother's downtown anymore," Brodie said. "You used to be able to say there was a rather small area called the financial district, and you used to be able to say, 'Well, the Inner Harbor, that's at Light and Pratt and maybe a couple blocks in either direction.' So, that's clearly expanded. ... What happens to older buildings downtown then becomes another set of questions, but it's a good set of questions to have versus your downtown is static, not expanding, no new buildings."

The team handling Legg's building - H&S Properties and Struever Bros. Eccles & Rouse, the development manager - recently asked for "financial assistance" for the complex, Brodie said, but the city has not made a decision. He declined to be more specific about the request.

H&S Properties plans to break ground in March on the two-building, $550 million project, though the Legg building still must receive design approval from the city.

The Four Seasons Hotel is scheduled to open in early 2010, a half-year or so after the office tower - and much later than the developers originally planned. When the project was announced, they expected to begin construction in 2004.

The condominium component is also squishier than it once was, possibly because the market has weakened. The original plan was for 26 condos, but H&S Properties now declines to say how many there will be.

"It's going to be a project that people talk about around the world," said Michael S. Beatty, president of H&S Properties. "It's iconic architecture."

Speculation abounded in recent weeks that Legg would move from its front-and-center spot downtown. Talk was fueled not only by the bylaw change, but also by a long closed-door meeting of the Baltimore Development Corp.'s board that Brodie confirmed yesterday was about Legg.

City officials had originally wanted the company to stay put and hoped that a 10-story parking garage the tower's owners are developing would help. But company executives wanted newly built space.

Legg thinks the new building at Aliceanna and President streets, which will bear its name, will sweeten recruiting efforts. When the glassy tower opens, workers will overlook waterfront within walking distance of restaurants and a Whole Foods Market. A seven-screen theater and an athletic club are expected to open nearby later this year. The parking situation, Hirschmann said, "will be much better."


He said early feedback from employees has been good, particularly from Owings Mills workers who live in Baltimore.
The idea of leaving downtown's core did not concern longtime members of the executive team, Hirschmann said.

"The city's development has been dynamic; the center has moved from time to time," he said. "That's pretty much the case for every city."

In Baltimore's case, growth has pushed outward along the waterfront to Canton on one side and Locust Point on the other, and major mixed-use developments are planned as far afield as Westport and East Baltimore. Downtown's west side is also seeing a surge of projects, including the Centerpoint apartment and retail complex.

"I think all that does is make us a stronger city," said Donald C. Fry, president of the Greater Baltimore Committee.

Legg's departure from the Light Street tower will empty 23 of the 35 floors there. Not only is the company leaving, but the former pieces of Legg that are subletting space from the company are on track to do so as well. A division bought by Stifel Nicolaus & Co. of St. Louis said in November that it will move to the nearby One South Street building. Citigroup, which got Legg's brokerage in a business swap, is looking "seriously" at other downtown space as well, Brodie said.

A spokesman for Lexington Realty Trust, which acquired the Legg Mason building as part of a merger last year, said the company is looking for new tenants but notes that it has until 2009 to fill the space.

"I think this is a great building, and I think it will lease up," said Wally Pinkard, chairman and chief executive of Baltimore-based commercial real estate firm Colliers Pinkard, which manages 100 Light Street. "It's still an icon building. I think if you look at Pratt Street, there's not a lot of space available."

Kirby Fowler, president of the nonprofit Downtown Partnership, said he's not worried. His group says that vacancy downtown - including Harbor East - was about 11 percent at the end of last year, an improvement from recent years.

"The existing building is in a prime location with stellar views," Fowler said. "I have no doubt that they'll be able to fill that space."



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Old February 14th, 2007, 12:18 PM   #907
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"snapshot" of the day.

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Old February 14th, 2007, 12:32 PM   #908
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I love this site however, It seems like there are way to many posts on this forum. It would seems much better to edit posts to add something instead of keeping posting to add information. 900 posts, it is just too hard to follows anything or even find a recent post because it is burried. It also seems like the same articles from tne newspapers are posted many times over. Sorry to seems critical. I dont post much because I don't want to add to overposting.
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Old February 14th, 2007, 03:06 PM   #909
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Wait a minute...where is my cookie? I predicted that perhaps Legg Mason would move into the office component being added at the Four Seasons complex, Baltimoreisbest you told me that wouldn't happen so I suggested the new office building at Canton Crossing as a second alternative.

Where is my cookie?
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Old February 14th, 2007, 03:16 PM   #910
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http://www.examiner.com/a-564406~Rit..._tax_base.html

Quote:
BALTIMORE - Midtown Baltimore LLC is putting on the Ritz.

Or to be more accurate, Midtown Baltimore is putting up the Ritz-Carlton condominiums. Scheduled for completion in late 2007, the luxury units located in Federal Hill along the Key Highway will provide Charm City with an elite real estate drawing card for white collar employees.

“We thought it was filling a void that Baltimore desperately needed to have filled,” Midtown Baltimore Principal Jack Cayre said. “When we took a look around Baltimore, it was clear over the past few years and decades the harbor and Baltimore turned from what it was, a traditional blue-collar town.”



With condominiums ranging in price from $1.2 million to $5 million, Cayre wouldn’t comment on a number, but acknowledged that more than half of the 192 units are already spoken for.

While not furnished, the apartments will be finished, with many kitchens outfitted in Italian wood veneers and German cabinetry.

“Every time we come here, my wife costs us money,” Cayre said. “She says, ‘Why don’t we have this in our house?’ ”

And the white-collar owners who these luxuries appeal to will bring their lifestyle with them.

“[The Ritz-Carlton] does improve the tax base and it gives us an edge in the term of coming of age,” said Downtown Partnership of Baltimore Inc. Vice President of Economic Development Bob Aydukovic. “It’s impressive, and it certainly shows that we have a lot of velocity in this market in residential and commercial real estate. I wish we had more like it being done in Baltimore.”

A luxury hotel franchise, the Ritz-Carlton brand has teamed up with Midtown Equity LLC, the parent company of Midtown Baltimore, to create unique condominium developments. The Baltimore location is the first of three developments nationally, with another in the works in New York City.

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[URL="http://harborluxury.com/home.html[/URL] If you go to this link and click on "Our residences" and Tour you will get a virtual tour around the residences. From it you can see the old leg mason tower in the background, and the future place of the legg mason tour and 4 seasons.

Last edited by Baltimoreborn1; February 14th, 2007 at 03:34 PM. Reason: To Enlighten all on this beautiful project
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Old February 14th, 2007, 03:27 PM   #911
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I do owe you a cookie! Kudos on the guess... Well, since I can't give you a cookie, why not just stay inside today while the city plows our roads -- or doesn't -- and bake some?

So, with your clairvoyance, can you predict what company's name -- if any -- will appear on the 100 Light St. building come 2009? Guesses anyone???
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Old February 14th, 2007, 03:48 PM   #912
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Quote:
Originally Posted by baltimoreisbest View Post
I do owe you a cookie! Kudos on the guess... Well, since I can't give you a cookie, why not just stay inside today while the city plows our roads -- or doesn't -- and bake some?

So, with your clairvoyance, can you predict what company's name -- if any -- will appear on the 100 Light St. building come 2009? Guesses anyone???
Done and done. As for the guessitmate, I'm very optimistic about 100 Light St. What has happened with Legg is all around good news to me. Does anybody really think that prominent tower is going to stay empty for long?

My guess is that the space will be absorb by firms already in the city like Citigroup but...It would be an awesome oppurtunity to get a defense contractor in there, wasn't Booze Allen looking for some space because of BRAC?

The only holdback IMO is the modernization of the building. This would be a great oppurtunity for BDC to help the building owner on a global search.

Nationally, who is looking to move Baltimoreisbest?
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Old February 14th, 2007, 03:49 PM   #913
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I'm hoping for a company

not currently located in the city. Free parking and great views of the harbor may land one.

Quote:
Originally Posted by baltimoreisbest View Post
I do owe you a cookie! Kudos on the guess... Well, since I can't give you a cookie, why not just stay inside today while the city plows our roads -- or doesn't -- and bake some?

So, with your clairvoyance, can you predict what company's name -- if any -- will appear on the 100 Light St. building come 2009? Guesses anyone???
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Old February 14th, 2007, 03:49 PM   #914
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Quote:
Originally Posted by baltimoreisbest View Post
I do owe you a cookie! Kudos on the guess... Well, since I can't give you a cookie, why not just stay inside today while the city plows our roads -- or doesn't -- and bake some?

So, with your clairvoyance, can you predict what company's name -- if any -- will appear on the 100 Light St. building come 2009? Guesses anyone???
mmmmmmmmmmm.....cooooooookiiiiiiiees!


this is not a guess at a new tenent...more of a fantasy. but wouldn't it be stellar if PNC moved from pittsburgh to be closer to their mid-atlantic market development? OR have M&T move from buffalo to be more centralized in their market gain?
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Old February 14th, 2007, 04:33 PM   #915
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What is going on at Granby street between Lombard and East Pratt? When I look on google maps I see a huge vacant lot there.

I also can see a huge vacant of what will be camden crossing. I noticed that by the crossing is a fair sized building with a slightly dark blue roof that looks new and a parking lot the size of the undeveloped portion of camden crossing. Anybody know what building this may be?
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Old February 14th, 2007, 05:02 PM   #916
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Quote:
Originally Posted by Baltimoreborn1 View Post
What is going on at Granby street between Lombard and East Pratt? When I look on google maps I see a huge vacant lot there.

I also can see a huge vacant of what will be camden crossing. I noticed that by the crossing is a fair sized building with a slightly dark blue roof that looks new and a parking lot the size of the undeveloped portion of camden crossing. Anybody know what building this may be?
With all of the development going on, Google Maps becomes outdated. Those aireals are probably 4 years old. The vacant lots off of Lombard is almost all built out now. It is a mix of market rate and subsidized housing, called Albemarle Square, I think. The developer is Beazer Homes. It looks pretty nice.

As for Canton Crossing, are you talking about the Merrit Athletic Club?
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Old February 14th, 2007, 06:20 PM   #917
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Quote:
Originally Posted by StevenW View Post
"snapshot" of the day.


GREAT SHOT!!

Really shows off 300 E. Lombard--soon to be waterviewless! I think the angle of the lens contributed to the dynamic visual appeal on this one.

Nate
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Old February 14th, 2007, 06:38 PM   #918
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Quote:
Originally Posted by Huck View Post
With all of the development going on, Google Maps becomes outdated. Those aireals are probably 4 years old. The vacant lots off of Lombard is almost all built out now. It is a mix of market rate and subsidized housing, called Albemarle Square, I think. The developer is Beazer Homes. It looks pretty nice.

As for Canton Crossing, are you talking about the Merrit Athletic Club?
Actually, I think baltimoreborn is referring to Camden Crossing, the 150 townhome development just west of MLK by the B&O railroad musuem. The pic is definitely outdated as the camden crossing development is now well over 50% done. The large parking lot and building with a blue roof is actually a shopping center on the west edge of the B&O. Its got a couple random shops/takeout places there including a safeway... although some have dubbed it the unsafeway given the people that hang out in that parking lot. I'm not sure what goes in the large blue roof building, to be honest, it looked empty to me when I went by there.
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Old February 14th, 2007, 08:24 PM   #919
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Thanks im sure one of you two are right. Eitherway if it is infact an unsafeway then I think its occupying too much land with its unsafe parking lot, a nice tower would fit there.
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Old February 14th, 2007, 09:15 PM   #920
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My disgust for suburban type shopping centers being what it is, I support redevelopment of this site, although this shopping center isn't particularly offensive as shopping centers go from an aesthetic/design aspect.

However, a tower above 12 to 15 stories in this neighborhood would be out of context and inappropriate. It could be a nice TOD site come the time when the old B&O ROW becomes used as a subway line

Nate
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