Armada Hoffler Properties, Inc. (NYSE: AHH), today announced that Harbor
Point developer Beatty Development Group, LLC entered into a contract
with Armada Hoffler Construction Company, a division of Armada Hoffler
Properties, to commence construction of an approximately 900,000 square
foot mixed-use tower in Baltimore, Maryland. This contract is the
culmination of a two-year pre-development effort, subsequent to the
award of the project.
The Harbor Point project will be a 20-story mixed-use development
located on Baltimore’s waterfront adjacent to Harbor East. The project
will include office, garage, residential apartment and retail components
and is one of the last major development sites on Baltimore’s Inner
Harbor. The building will become headquarters to Exelon’s Constellation
business unit. Based in Chicago, Exelon is the nation’s leading
competitive energy provider.
Construction is expected to start in the spring of 2014 with completion
in the spring of 2016. In total, the construction contract is valued at
$165 million.
Armada Hoffler Construction Company and Beatty Development Group have an
established history of working with Baltimore City women- and
minority-owned businesses. For Harbor Point, the firms are working in
partnership to advance participation of city-certified minority- and
women-owned business enterprises that will bring their experience and
expertise to this transformational project.
Armada Hoffler Construction Company provides general contracting
services to third-party clients and has operated continuously in the
Baltimore Inner Harbor since 1993, constructing over $1 billion in
projects. Signature properties previously constructed at the Inner
Harbor by Armada Hoffler Construction Company include the Four Seasons
Hotel, Baltimore Marriott Waterfront Hotel and Conference Center, Legg
Mason Global Headquarters and Spinnaker Bay luxury apartments.
“The reputation and experience that we’ve earned in Baltimore’s Inner
Harbor over the last two decades led to this important win,” said Eric
Apperson, President of Armada Hoffler Construction Company. “We are
excited to be a part of the Harbor Point project and the continued
development of Baltimore’s Inner Harbor.”
About Beatty Development Group, LLC
Beatty Development Group (BDG) is an experienced real estate development
group focusing on delivering sustainable, urban, mixed-use projects.
Founded in January 2013 by Michael S. Beatty, but previously operating
as Harbor East Development Group, BDG has over the past decade developed
the Harbor East neighborhood, representing 6 million square feet of real
estate worth more than $1 billion. BDG continues its dedication to smart
development and specializes in creating contemporary, design-forward
buildings in urban settings.
About Armada Hoffler Properties, Inc.
Armada Hoffler Properties, Inc. is a full service real estate company
with extensive experience developing, building, owning and managing
high-quality, institutional-grade office, retail and multifamily
properties in attractive markets throughout the Mid-Atlantic United
States. The Company has elected to be taxed as a real estate investment
trust (REIT) for U.S. federal income tax purposes.
Copyright Business Wire 2014