T. Rowe Price Global Headquarters to Move to Harbor Point
T. Rowe Price has signed a letter of intent for a long-term lease in Harbor Point that will keep its global headquarters in downtown Baltimore. The new Harbor Point headquarters will be constructed to the firm’s specifications, allowing it to create customized space that best meets its needs and supports the firm’s collaborative culture. Scheduled for completion in 2024, the two planned modern, green buildings will create approximately 450,000 square feet of office space, including a client conference center and an auditorium.
“T. Rowe Price is excited to make this commitment – it’s an investment in our people, in our clients, and in our community and continues our deep and long-standing connection to the City of Baltimore,” said William Stromberg, President and CEO, T. Rowe Price. “In Harbor Point, we will have a vibrant campus-like atmosphere, with top-notch amenities and modern spaces designed to support the collaborative way we work with each other and with our clients.”
Founded in 1937, Baltimore-based T. Rowe Price is a global investment management organization with $1.30 trillion in assets under management as of October 31, 2020. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers sophisticated investment planning and guidance tools.
The new T. Rowe Price global headquarters will be developed by Beatty Development Group in partnership with Armada Hoffler Properties. Armada Hoffler will also be the general contractor for the project.
“T. Rowe Price is a true Baltimore institution, and their continued commitment to our city is nothing short of inspiring," said Michael Beatty, President, Beatty Development Group. "Our team looks forward to working with T. Rowe Price to create an innovative, state-of-the-art global headquarters at Harbor Point that reflects the core values that the company is so well known for.”
“Having constructed many of the signature buildings in Baltimore’s skyline over the last twenty-five years, Armada Hoffler is proud to continue its longstanding partnership with Beatty Development Group and we look forward to building a world-class sustainable global headquarters for T. Rowe Price at Harbor Point,” said Lou Haddad, President and Chief Executive Officer, Armada Hoffler Properties.
