Price unveils Phase 1 of Owings Mills center

Maryland Watch

October 28, 1997

T. Rowe Price, the giant Baltimore-based mutual fund manager, yesterday showed off to elected county and state leaders the completed first phase of its new financial center in Owings Mills.

About 950 are expected to be employed in the two four-story office buildings, each with about 100,000 square feet of space, that make up the first phase.

The workers, who are primarily moving out of the Baltimore headquarters, are expected to move into the new offices by the end of the month, said company spokesman Edward F. Giltenan.

Price has said it spent about $55 million to erect the first phase of the complex. The company, which has about $125 billion under management, plans to build two more buildings at the complex at Painters Mill Road and Lyons Boulevard.

The Owings Mills site will house institutional and retail retirement plan service departments as well as other administrative, service and technology departments.

State and county officials have said the project -- which will employ more than 2,000 when done -- will have a significant economic effect on the Owings Mills region.

Pub Date: 10/28/97

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