Harbor Point to Host New Constellation Headquarters
- Feb 13, 2012
After researching and exploring multiple locations in the last months, Exelon Corporation and Constellation Energy announced they have chosen Harbor East Development Group LLC to build their new waterfront headquarters at Harbor Point. The companies plan to start construction on the project within a year of closing their proposed $7.9 billion merger.
The merger is expected to be finished in March. The resulting company will retain the Exelon name and be headquartered in Chicago. Power Team, Exelon’s power marketing business, Constellation’s retail and wholesale business, and both companies’ renewable energy businesses will be headquartered in Baltimore.
The former chemical plant site between Harbor East and Fells Point has been pitched for development for over a decade. It failed to attract projects until now. It was chosen based on developers’ capabilities and experience. Additional selection parameters included proximity to the downtown waterfront, the ability to accomodate 300,000 to 370,000 rentable square feet, a trading floor size of at least 70,000 square feet, office floor size of approximately 30,000 square feet and the availability to move in by 2014. The decision ended months of speculation. Washington DC-based Studley has been handling the search for potential sites.
Exelon has also selected Washington, D.C.-based SmithGroupJJR as the interior design architect, Baltimore-based RTKL as the mechanical, electrical and plumbing engineer, and GreenShape, a women-owned firm, as the LEED consultant. Like the developer, Exelon conducted important research to find those firms best suited to work on the project.
It will be at least two years until Exelon opens its new headquarters. The decision will move 2,000 workers from 750 E. Pratt St. to Harbor Point. It will also bring significant benefits for the City of Baltimore, create more than 1,000 construction jobs and provide new tax revenue for the city. According to state documents, cost estimates for the building are between $95 million and $105 million.