Real estate investment trust Armada Hoffler Properties Inc. plans to build the $117 million Wills Wharf mixed-use building at Baltimore's Inner Harbor, as part of its 27-acre Harbor Point development.
The 12-story, 325,000-square-foot building will encompass prime office and retail space, as well as a 156-room Canopy by Hilton hotel across top four floors. The company expects to lease over 100,000 square feet of office space in the asset before commencing the project.
Armada Hoffler will work on the project alongside partner Beatty Development Group, with completion slated for the first quarter of 2020, the company said in a statement.
In a separate release, the REIT said it is offering a mezzanine loan to fund the office and retail parts of The Interlock mixed-use project in West Midtown in Atlanta, under a joint venture with the Georgia Institute of Technology.
The Interlock will feature 200,000 square feet of office space, 90,000 square feet of retail area, 350 apartments, 70 single-family homes and a 125-room boutique hotel. Approximately 60% of the development is expected to be leased prior to the beginning of its construction, including a 50,000-square-foot office lease with the university. The company's development arm, Armada Hoffler Construction Co., will serve as the project's general contractor.