The energy company called Exelon has announced that its headquarters will be based in the region of Harbor point in Baltimore.
The development of the project will be led by John Paterakis and Bakery Magnate. The development of the office building will add to the skyline of Baltimore, Maryland as the city officials were excited about the possible development. There were other community members who were not satisfied with the site selection of the headquarters as they preferred the building to be constructed in the business district of Baltimore. People were also worried that the waterfront area would not be able to handle all of the construction that will take place.
The president of Downtown Partnership’s says that the commitment of Exelon to move to Baltimore was good news but the selection of the headquarters was disappointing. The president and his group had proposed possible site selections in the News American properties that were located in the business district of Baltimore.
President Fowler wanted to reinforce the importance of development in the downtown region. The scope of the project and design of the building has not been released but the building of the headquarters will be followed after a $7.9 billion buyout of Constellation Energy.
The leasing terms between the Harbor East Development Group and Exelon still have to be worked out in order for the construction process to begin. The final merger between Exelon and Constellation Energy must also be cleared by February 17th by the regulators before construction begins as well. The President of Exelon Christopher Crane hopes that Exelon can have a positive impact on the growing community in the region of Baltimore. The lease terms will be competitive and economical as the proper square footage is utilized as the headquarters is constructed.
Overall, the establishment of the Exelon headquarters is expected to bring much prosperity to the region of Baltimore, Maryland.