The developer of Harbor Point announced Wednesday the selection of a Virginia-based contractor for the $165 million construction of the first tower on the site.
Beatty Development Group's choice of Armada Hoffler to build the new regional headquarters of energy company Exelon continues a partnership established during the construction of Harbor East, which Beatty Development Group President Michael Beatty led before founding his own company last year.
Armada Hoffler, a Virginia Beach-based real estate investment trust, completed Harbor East's Four Seasons Hotel, Baltimore Marriott Waterfront Hotel and Conference Center, Legg Mason headquarters and Spinnaker Bay apartments. The company also was selected last year as the developer for a Johns Hopkins University-owned site in Charles Village.
The 900,000-square-foot building will rise 20 stories, three stories smaller than originally planned. It is slated to include more than 100 apartments and about 41,000-square-feet of commercial space in addition to the Exelon offices. Armada Hoffler said the construction contract is worth $165 million.
Pre-construction activity is underway on the site. Construction is expected to finish in the spring of 2016, Beatty Development Group said.
The project is expected to support 1,000 construction jobs. Beatty Development agreed with the city to a goal that 20 percent of all employees on the jobsite will be Baltimore City residents and 51 percent of new hires will be city residents.
"Harbor Point represents one of the most significant opportunities for Baltimore City," Mayor Stephanie Rawlings-Blake said in a statement. "This transformational project will attract new jobs, new residents, new tax revenue and new public amenities for all Baltimore City residents to enjoy."