Photo courtesy of SoleCollector.com
On June 28th, Under Armour cut the ribbon to their redeveloped, 35,000 square ft. South Baltimore home, The Under Armour Lighthouse. There is no question as to why so many are calling the UA Lighthouse Baltimore’s newest millennial magnet. The new headquarters, located in the heart of Port Covington, includes a 50-acre waterfront campus, three skyscrapers, a small stadium and is sure to draw a crowd.
“As Under Armour celebrates 20 years in business, we are committed, more than ever, to driving global innovation and continuing to expand our Global Headquarters in our great hometown of Baltimore, Maryland,” said Kevin Plank, The Founder and CEO of Under Armour during a recent press release (BaltimoreSun.com). Plank trusts that the new facility will act as a base for the company to launch products in a better, faster and more efficient manner- catering to and simplifying the lives of athletes worldwide.
According to SouthBmore.com, The new facility will equip Under Armour’s staff and external partners with substantial space and tools to create new and revolutionary products. At UA Lighthouse, product developers, engineers, designers and operators will have access to 3D design, 3D printing, rapid prototyping and body scanning.
But what does this mean for Baltimore residents and Baltimore real estate?
The Lighthouse is intended to address all of Under Armour’s needs as it expands globally while also benefitting it’s home town of Baltimore! According to Neil Jurgens, Under Armour’s vice president of corporate real estate, Port Covington has not generated any tax revenue or jobs in the last few years. “We had Ernst & Young do an economic study and they found that for every Under Armour job being generated here at this campus, another 1.5 jobs are being generated. That’s from other businesses, vendors, suppliers, companies supporting Under Armour’s operation. And those people are spending. There’s enormous economic impact to the state. We’re taking this forgotten area, this underutilized land, and really transforming it into a vibrant economic engine for the city,” Says Jurgens. Currently, Under Armour has approximately 1,800 employees with just under 40 percent living in the city limits and are looking to hire approximately 10,000 more (SiteSelection.com).
Our team cannot wait to experience the new Under Armour HQ and is here to assist in finding homes for all joining us in the Baltimore Metro area as UA hires over the next few decades!
For additional information on how the development of the UA Lighthouse could potentially impact buying or selling a home, please contact us at 443.475.0966 or email@example.com