BALTIMORE (WJZ) – A great Baltimore business is moving out of downtown, and although the move isn’t too far, it’s a business that has become all too familiar to the Inner Harbor.
T. Rowe Price is leaving downtown and opening a brand new global headquarters at Harbor Point. Construction of the 550,000-square-foot campus, which includes two- and seven-story buildings, is expected to be completed in 2024.
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“This has been our home since the company was founded in 1937,” said T. Rowe Price president and CEO Rob Sharps.
The plans call for a water harvesting system that would use rainwater in all dischargers in the building, saving 1.55 million gallons of potable water per year. The company hopes to achieve LEED Platinum status through the US Green Building Council.
T. Rowe Price says it employs 5,200 people in the Baltimore metropolitan area.
The celebration of a business that chose to stay and branch in Baltimore comes with questions about what the future holds for downtown, where T. Rowe Price operates out of a tower on Light and E. Pratt.
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Just across the street from the company’s downtown offices is Harborplace, a shopping and dining venue that has been in legal limbo since 2019.
“When you think about what happens to Harborplace when we take this adoption process and put it in the hands of someone who really understands Baltimore, then we’re going to start seeing investments in downtown, ‘ said Mayor Brandon Scott.
A judge placed the riverfront property on the list, which means there could be a new owner eventually.
While Harborplace was plagued with closures, across the street, the Gallery Shopping Center closed well into December.
Scott said the central business district “will be reshaped.”
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WJZ contacted both the owner of Harborplace, Ashkenazy Acquisition Corp. New York-based and trustee, IVL Group LLC of Montclair, New Jersey. To date, no company has immediately responded to our request for comment.
https://baltimore.cbslocal.com/2022/03/29/t-rowe-price-breaks-ground-on-harbor-point-headquarters-raising-new-questions-for-future-of-inner-harbor/ T. Rowe breaks in price at Harbor Point headquarters, raises new questions for inner port future – CBS Baltimore