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Harbor East to develop Exelon’s new HQ in Maryland

02 Feb 2012 (Last Updated February 2nd, 2012 18:30)

Exelon Corp and Constellation Energy have selected Harbor East Development Group to develop a new headquarters building in downtown Baltimore, Maryland, US.

Exelon Corp and Constellation Energy have selected Harbor East Development Group to develop a new headquarters building in downtown Baltimore, Maryland, US.

The selection of developer, site and design firms for the new headquarters building follows the completion of the companies’ proposed merger.

Under the agreement with Exelon, Harbor East Development has agreed to develop the new headquarters building for the merger at Harbor Point between Fells Point and Harbor East in Baltimore.

The development of the building is expected to create more than 1,000 construction and other jobs and provide new tax revenue for the city.

Exelon president and COO Christopher Crane said: "We are committed to Baltimore’s downtown and its business district, and we look forward to being a growing part of the Baltimore community as the overall vitality of the city’s downtown continues to flourish."

The building will be close to the downtown waterfront, and will feature 300,000 to 370,000 rentable square feet, a trading floor size of at least 70,000ft², and an office floor size of approximately 30,000ft². Exelon said that the building is expected to be available for occupancy in 2014.

The company has selected SmithGroupJJR as the interior design architect, RTKL as the mechanical, electrical and plumbing engineer and GreenShape as the Leadership in Energy and Environmental Design (LEED) consultant.

Construction of the new building was a commitment made as part of the companies’ merger settlement with the State of Maryland, the Maryland Energy Administration, the City of Baltimore and the Baltimore Building and Construction Trades Council on 15 December 2011.

Under the settlement, Constellation, its pending new owner Exelon, and Baltimore Gas and Electric (BGE) will provide a package of benefits totaling around $1bn.

The Department of Justice, the New York Public Service Commission, the Public Utility Commission of Texas and the shareholders of Exelon and Constellation have approved the Exelon-Constellation merger.

Approvals by the Federal Energy Regulatory Commission, the Nuclear Regulatory Commission and the Maryland Public Service Commission are also required for the merger.