In Baltimore, T. Rowe Price Group, Inc. has kicked off construction of a new 550,000-square-foot global headquarters set to open in 2024. The facility will be located in the city’s Harbor Point community, a growing waterfront neighborhood with green spaces, views of the harbor, and a campus-like atmosphere with 50,000 square feet of retail, dining, residences, and hotels.
The new headquarters design supports T. Rowe Price’s collaborative culture. Spaces to gather for meetings of all sizes — including a client conference center and an auditorium — are meant to help the firm attract and retain top talent.
“We’re excited to break ground on our new headquarters during the firm’s 85th anniversary year,” said T. Rowe Price’s CEO and President Rob Sharps. “We have been in Baltimore since 1937, and we remain committed to supporting our community and creating a sustainable environment for our associates to thrive.”
“I am grateful for T. Rowe Price’s decision to commit to Baltimore,” said Mayor Brandon M. Scott. “With this groundbreaking, they are making a bold statement that they are here to stay and share our vision for Baltimore’s renaissance. We will build on this as we look to continue to advance our city’s economic potential.”
The new building will feature a water harvesting system that will save approximately 1.55 million gallons of potable water annually, contributing to its proposed goal of LEED Platinum status for commercial interiors. By using rainwater in the flush fixtures of the building, the potable water usage will be reduced by more than 50% and ultimately create a positive impact on the health of the Chesapeake Bay.
The firm is also pursuing a three-star Fitwel certification — its highest level — for the building’s interior to enhance the employee experience. Fitwel scorecards use more than 55 evidence-based design and operational strategies that enhance buildings by addressing a broad range of health behaviors and risks.
Composed of two seven-story sustainable buildings linked by an all-glass lobby atrium, the new headquarters takes advantage of its premier location along the waterfront. The pedestrian-scaled structures feature a timeless design that incorporates wood, stone, and other natural materials complemented by indoor plantings at the entrance. Large windows throughout the buildings offer expansive views of the harbor and bring natural light into the interior spaces. The massing and position of the project creates a walkable connection between the site’s central plaza and Point Park, a new 4.5-acre public waterfront park.
The new headquarters site is being developed by Beatty Development Group, the master developer of the 27-acre Harbor Point, in partnership with Armada Hoffler Properties. Armada Hoffler is also the general contractor for the project. Other members of the development team include Base Building Architects—Kohn Pedersen Fox (KPF), Developer Architects—Beatty Harvey Coco (BHC), Base Building Mechanical, Electrical and Plumbing Engineers—JDB Engineering, Program Management—Jones Lang LaSalle, Interior Architects—Gensler, and Interiors MEP Engineer—Allen + Shariff.