The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A $1.54T-AUM Titan Preps a New HQ Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, March 30, 2022

A $1.54T-AUM Titan Preps a New HQ

Reported by Neil Anderson, Managing Editor

A $1.54-trillion-AUM (as of February 28), publicly traded mutual fund titan's team is preparing to move into a brand new, 550,000-square-foot HQ in a couple of years. Yet they won't be moving very far.

Today, construction officially begins on the next T. Rowe Price Group, Inc. [profile] headquarters, following a groundbreaking ceremony yesterday. The move comes as the always-Baltimore-based fund firm's team celebrates their 85th anniversary this year.

"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," states Rob Sharps, president and CEO of T. Rowe.

The new HQ will still be on the water in downtown Baltimore. The two-building complex will be located at 1307 Point Street in the Harbor Point neighborhood (as expected), about a mile southeast of 100 East Pratt Street, where T. Rowe's HQ has been since 1975 and their lease, renewed back in 2013, goes through 2027. (The firm also has long had a big presence in Owings Mills, Maryland.)

2,500 employees will work at the new HQ, the Baltimore Sun reports.

"I am grateful for T. Rowe Price's decision to commit to Baltimore," states Brandon Scott, the city's mayor. "With this groundbreaking, they are making a bold statement that they are here to stay and share our vision for Baltimore's renaissance."

(The Baltimore Business Journal shares how developer Michael Beatty pitched T. Rowe on moving to Harbor Point.)

Beatty's Beatty Development (Harbor Point's master developer) and Armada Hoffler Properties (the new HQ's general contractor) are developing the new T. Rowe HQ site. The development team also includes: Allen + Shariff as interiors MEP engineer; Beatty Harvey Coco (BHC) as developer architects; Gensler as interior architects; JDB Engineering as base building mechanical, electrical, and plumbing engineers; Jones Lang LaSalle for program management; and Kohn Pedersen Fox (KPF) as base building architects. The construction project is expected to create nearly 1,600 jobs.

The T. Rowe team is aiming for the new HQ to gain both LEED platinum status (which recognizes environmental impact; the building will include a water harvesting system, for example) and a three-star Fitwel certification (which recognizes design around addressing health behaviors and risks). The complex will feature two buildings, each seven stories tall, connected by an all-glass lobby atrium. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use