Project Owner, supported by Fortis, executed a $25.6 million historic redevelopment of the Building, improving it from Class B to Class A, adding high-end features and creating communal spaces. The building was designed to LEED Silver standards.
The project secured a 20-year PILOT agreement with the City of Baltimore that abates the incremental tax increase saving the owner over $2 million during its duration. Additionally, Project secured $3.3 million in Federal Historic Taxes Credits, which were sold to one the country’s largest corporations, Chevron, Inc. through its subsidiary, Chevron HTC, Inc.
Total Sq.Ft: 124,500 Contractor: Hammel Builders Architect: Marks Thomas