Exelon Corp. selected the spot for its new headquarters in Baltimore pending its takeover of Constellation Energy, and Giant Foods is taking over some Fresh and Green’s supermarket locations. Those stories and more in this week’s business top 5.
1. Exelon picks Harbor Point for Baltimore HQ – by Melody Simmons and Maria Zilberman
In the end, it came down to the bottom line.
Exelon Corp.’s selection of a potential $120 million Baltimore headquarters site for Constellation Energy Group in Harbor Point was made in part because the property already had lucrative developer tax breaks attached to it, observers say.
The Chicago-based energy giant announced Wednesday that the property, located between Fells Point and Harbor East, was picked for its “proximity to the downtown waterfront, the ability to accommodate 300,000 to 370,000 rentable square feet, a trading floor size of at least 70,000 square feet, office floor size of approximately 30,000 square feet and availability for occupancy in 2014.”
2. O’Malley supports applying sales tax to gasoline – by Nicholas Sohr
Gov. Martin O’Malley outlined a proposal on Monday to apply Maryland’s sales tax to gasoline, calling it the “best option” to boost spending on roads, bridges, rail lines and other transportation projects.
The 6 percent sales tax would be phased in evenly over three years and, when fully implemented, yield an estimated $613 million a year for the state.
3. Habitat for Humanity helping McElderry Park – by Melody Simmons
When she bought her three-bedroom row house last July, Deborah Brown said, she felt a sense of accomplishment.
The 46-year-old mother of four had rented for years but embraced the prospect of buying one of nearly 75 houses identified for renewal or rehabbed in Baltimore’s McElderry Park by Habitat for Humanity of the Chesapeake.
4. Lt. Gov. Brown leading state’s effort to make public-private partnerships common – by Nicholas Sohr
As lawmakers prepare to consider tax hikes to pay for transportation projects, Maryland’s lieutenant governor is directing an effort to pump private dollars directly into state roads, bridges and rail lines and the port and airport.
The administration’s General Assembly agenda, heavy on bills and spending designed to spur construction hiring, includes legislation that would make public-private partnerships, or P3s, a common financing arrangement for state infrastructure.
5. Giant acquires two Fresh & Green’s stores in area – by Melody Simmons
Baltimore’s grocery store merry-go-round continues.
Two Fresh & Green’s grocery stores that opened in former Superfresh locations last year after that market closed are being converted to Giant Food stores, the Landover-based grocery announced Friday.
Giant this week signed an agreement with Mrs. Green’s Management Corp. to acquire the company’s supermarket locations in Hampden, at 1020 W. 41st St., and in Parkville, at 7709 Harford Rd.