Beatty Development Debuts New Exelon Building in Baltimore
- Nov 08, 2016
Baltimore—Beatty Development Group has completed the Exelon Building, a new mixed-use tower anchored by energy company Exelon Corp.’s Constellation subsidiary at the 27-acre Harbor Point project in Baltimore. The 900,000-square-foot high-rise was constructed at a cost of approximately $183 million, according to a third quarter supplemental report of the project’s general contractor, Armada Hoffler Construction.
The Exelon Building is more than just a new commercial structure; it’s the flame that ignited the kick-off of the 3 million-square-foot Harbor Point development, a project that is expected to prove vital to the city’s renewal. “What was once a vacant industrial lot is now another link in the chain of diverse neighborhoods and businesses that are bringing new vitality to Baltimore’s downtown,” Baltimore Mayor Stephanie Rawlings-Blake said in a prepared statement. “The view beyond this building shows a waterfront lined with construction cranes and other evidence of a continuing urban renaissance that is serving as a catalyst for jobs and sustainable economic growth for our city.”
Exelon’s new high-tech digs at 1310 Point St. consist of 443,000 square feet of premier office space, including a 65,000-square-foot, state-of-the art trading floor. The company will relocate from its current locale at 111 Market Place and 750 E. Pratt, where it occupies a total of roughly 431,000 square feet. Per a 2013 Exelon document, the energy concern inked a 20-year lease agreement with Beatty, with the option to extend occupancy for up to 20 years. A whopping 1,500 employees of Exelon and Constellation will set up shop in the space.
Office tenants won’t be the only ones to call the Exelon Building home; the tower also encompasses 103 residential apartments carrying the address of 1305 Dock St. Beatty rounded out the property with a 750-car parking facility and 40,000 square feet of street-level retail space, a portion of which has been claimed by home décor store West Elm, Core Power Yoga and restaurant Honeygrow.
Beatty’s newest delivery is also be a model of green. Designed by Beatty, Harvey, Coco, Architects LLP, the Exelon Building features a rooftop solar PV system, electric vehicle charging stations, reclaimed wood and a host of additional sustainable attributes. The property is in line to receive LEED Platinum certification in early 2017, at which point it will carry the title of the largest LEED Platinum development in the mid-Atlantic.
Completion of The Exelon Building was a long time coming. Exelon chose the development site in 2012 and Beatty had been scheduled to wrap up the project in 2014, but numerous delays pushed back the construction start date by two years.