As a further sign of its investment in the revitalization of Columbia's town center, the
The property known as 70 Corporate Center opened in 1992 at Little Patuxtent and Broken Land parkways and is one of Columbia's largest office buildings, with nearly 170,000 square feet of space. It has been a multitenant office building since Ryland, a national home builder that was founded in Maryland, moved its headquarters to California in 1999.
Howard Hughes, which succeeded the Rouse Co. and
The acquisition comes less than a month after Howard Hughes announced plans to redevelop another former corporate headquarters it owns, the 1974 Rouse Co. building, as a mixed-use complex with a
"The purchase of 70 Corporate Center helps solidify our company's commitment to downtown Columbia and its future redevelopment," said John DeWolf, senior vice president of development for Howard Hughes. "This well-located, notable office building serves as a strong addition to our holdings."
Howard Hughes and two partners plan to start construction by year's end on a 380-unit apartment and retail project called the Metropolitan Downtown Columbia on land near 70 Corporate Center. DeWolf said Howard Hughes is hoping to lease space on the first level of 70 Corporate Center to a full-service restaurant and possibly a wine bar.