Almost exactly three years after executives broke ground for their new global headquarters at Harbor Point, T. Rowe Price Group will start moving in next week.
The company will officially begin moving into its new headquarters on Monday, developer Max Beatty said during a presentation on Wednesday.
“We’re in a really special point in time right now in working on this project,” he said. “As of Monday, T. Rowe Price will be actually moving their employees into the building.”
The nine-level, 550,000-square-foot structure is the largest single office building to open in Baltimore this year. It was designed to house more than 1,700 employees based in T. Rowe Price Group’s current headquarters at 100 E. Pratt Street. A groundbreaking ceremony was held on March 29, 2022, during the company’s 85th anniversary year. The move was originally scheduled to take place last fall but was postponed because construction was behind schedule.
Beatty is the Director of Operations for Beatty Development Group, the master developer of Harbor Point, a 27-acre mixed-use community taking shape between Harbor East and Fells Point. He spoke about the new building during a presentation about its design organized by The Architects Newspaper and held at the Westin Washington hotel on Ninth Street N. W. in Washington, D. C.
Asked after his presentation how long the move will take, Beatty referred questions about logistics to T. Rowe Price officials. He said it’s his understanding that the company plans to provide more information about its relocation later this week. A T. Rowe Price representative did not immediately respond to a request for information.
T. Rowe Price’s headquarters is located at 1307 Point St., between Central Avenue and Wills Street. It’s across from the 21-story Constellation Building at 1310 Point St., the headquarters of Constellation Energy.
Beatty is developing the T. Rowe Price headquarters in partnership with Armada Hoffler Properties. Kohn Pedersen Fox (KPF) is the design architect of the new headquarters. Beatty Harvey Coco is the architect of record; Gensler is the interior architect and iO Studio is the landscape architect. Armada Hoffler is the general contractor.
The headquarters consists of two mid-rise structures – set on a podium, clad in glass, linked by a multi-story atrium and framing a landscaped courtyard featuring views toward Baltimore’s harbor. Besides offices, it contains a client conference center, an auditorium and other gathering spaces, including one on the roof.
The move is expected to bring office vacancy rates close to 30 percent in downtown Baltimore, a record high. At the same time, city officials say they’re happy that the company decided to keep its headquarters in the city. T. Rowe Price has its name in large letters on the west side of the building, facing downtown, and on the south side of the building at promenade level.
“I am grateful for T. Rowe Price’s decision to commit to Baltimore,” Mayor Brandon Scott said at the groundbreaking ceremony. “They are making a bold statement that they are here to stay and share our vision for Baltimore’s renaissance.”
“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,” T. Rowe Price CEO and President Robert Sharps said at the event.
Although no moving vans were visible at the building on Wednesday, there were other signs of activity. Three construction workers were making a last-minute fix at the building’s southwest corner and people were visible in the central atrium inside.
The building also got a steady stream of strollers, joggers and dog walkers, many of them taking in the springlike weather and panoramic views from its first-level lookout points, where some benches have already been installed. Many were exploring the building’s harbor-facing courtyard, whose sloping serpentine pathway has already become a popular jogging route.
