BALTIMORE (CBSDC/AP) — Exelon Corp. plans to make its new home Baltimore in a waterfront development if its $7.9 billion purchase of Constellation Energy Group, Inc. is approved.

Chicago-based Exelon, which pledged to build a headquarters in the city as part its buyout of Baltimore-based Constellation, announced Wednesday that it had selected a property in the Harbor Point development.

Exelon plans to maintain its Chicago headquarters, but house its power-selling and renewable energy business in Baltimore.

The company says it was looking for a site close to the downtown waterfront with 300,000 to 370,000 rentable square feet available in 2014. They chose to build a new building as a part of a development project led by developer John Paterakis Sr., landing them between Harbor East and Fells Point.

Downtown advocates were disappointed that the company did not select a site in the central business district.

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