By Hallie Miller
June 9, 2021
The following is an excerpt from the original Baltimore Sun article.
RBC Wealth Management, a financial advisor and planner, will move its city branch from downtown Baltimore to Harbor Point, the company said June 9.
The unit of Royal Bank of Canada becomes the latest in a series of firms to leave the central business district for the developing Harbor Point, a 27-acre waterfront campus located on the site of a former chromium plant between Harbor East and Fells Point.
The relocation to Wills Wharf — a 12-story, 330,000 square-foot mixed-use building with offices, a fish house and a hotel — will help the group expand, said Mike Crowell, RBC’s Baltimore complex director.
“Moving RBC Wealth Management’s Baltimore office to Wills Wharf provides us with more opportunity for growth, as well as a premier, centralized location to offer better access and an even greater level of client service to our growing client base,” Crowell said in a statement June 9.
RBC Wealth Management will lease just over 5,900 square feet in the new facility, and plans to move in as early as October, according to the news release from Beatty Development Group and Armada Hoffler Properties, which is heading the Harbor Point project.
Other tenants in the building, which is 50% leased, according to Beatty Development, include the advisory firm Ernst & Young and digital marketing firm Jellyfish.
The exodus of several companies out of the downtown area comes as the city’s waterfront properties grow in popularity for both business and leisure, and as employers prepare to wrestle with the long-term impacts of the coronavirus pandemic and the challenges of luring employees back to in-person work environments.
Donald C. Fry, president and CEO of The Greater Baltimore Committee, said the central business district, along with Harbor Point, are viable destinations for companies.
“Like many cities, Baltimore is fortunate to have a number of business hubs that are attractive to growing business operations, including Harbor Point and the central downtown area,” Fry said. “Taken as a whole these hubs make up a thriving economic ecosystem in the city.
“The central downtown business area provides an opportunity for business operations attracted by the transit options and other great amenities that the downtown offers.”
Source: The Baltimore Sun
Also see: BBJ: Wealth management firm is the latest company to leave downtown for Harbor Point