Big Changes Are Coming To Harbor Point
BALTIMORE (WJZ) -- Developing downtown Baltimore. Big changes are coming to an up-and-coming neighborhood at the Inner Harbor.
George Solis has details on the project that's at the heart of it all.
A prime piece of real estate is pegged to be the next big thing in the city. Construction is officially underway for the first residential building at Harbor Point.
Big, luxurious and first of its kind. Construction is officially underway for the $93 million project.
Soon it will be home to hundreds of people and new businesses in Harbor Point, an up-and-coming area nestled between Harbor East and Fells Point.
"It's really going to bring those two communities together even more," said Tony Nero.
"This is an exciting time in Baltimore," said Mayor Stephanie Rawlings-Blake.
She tells WJZ this isn't just another development.
"This catalytic project makes that clear. This is about jobs. This is about creating the future for our city," she said.
Harbor Point is already home to some big businesses like finance group Morgan Stanley and Hopkins Medicine. Later this year, energy giant Exelon will open their doors on the 27 acres of waterfront real estate.
"If you add up all the jobs and the sales taxes, payroll taxes and all those things together, it's a huge win for the city of Baltimore," said Jonathan Flesher, Beatty Development Group.
with 1405 Point serving as the center of it all.
When it's all said and done, 1405 will rise 17 stories above the Inner Harbor with more than 18,000 square feet of retail space. Translation: a big boost to Baltimore's economy.
"We've seen it happen before and I'm looking forward to that happening again in a way that promotes growth and vitality in our city for decades to come," Rawlings-Blake said.
Rental units won't be available for some time and deals are still being worked with stores and restaurants.
Construction for 1405 Point is expected to be done by late 2017.
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