Plans set for 12 million-sq.-ft. mixed-use project in Maryland
Development has begun on a 280-acre mixed-use project adjacent to the White Oak headquarters of the U.S. Food and Drug Administration headquarters in Silver Spring, Md.
Baltimore-based MCB Real Estate has announced its initial plans for Viva White Oak, which will entail 12 million sq. ft. of construction. More than half of that space will be comprised of retail and food-and-beverage uses (525,000 sq. ft.)., offices, biomedical/biotech labs, and research and development facilities.
Most of the rest will be taken up by 4,500 private residences, a hotel, and senior living space. Some 85 acres will be devoted to open space that will include forested nature trails, parks, and other public uses.
“This is great news for Montgomery County,” said county executive Marc Elrich. “Our investments and partnership with MCB in this transformative project will further promote our inclusive community economic development goals for the area and county as a whole.”
Last year, MCB opened Drexeline Town Center in suburban Philadelphia that contains 60,000 sq. ft of medical offices and is anchored by a 72,000-sq.-ft. ShopRite supermarket. Its Yard 56 development in Baltimore neighbors the Johns Hopkins Medical Center and is anchored by Streets Market and LA Fitness.
“At MCB, we like to do complicated projects like this and we have a track record of success,” said the company’s managing partner P. David Bramble. ”We know that this is a project that can work and, frankly, this community has waited long enough for the kind of investment and amenities that we hope to bring to this location.”
Montgomery County is one of the 25 wealthiest counties in the United States, with an average household income of more than $110,000.
“Unleashing the full, untapped potential of East County, and the Viva White Oak site specifically, have long been key priorities for Montgomery County,” said county council president Andrew Friedson. “With unprecedented investments including the opening of the new East County Education Center and the county’s first Bus Rapid Transit Line along Route 29, alongside a committed, community-oriented private partner in MCB, we are poised to build on our unrivaled strategic assets and truly fulfill our shared vision for this deserving community.”
Global LifeSciences Development Corporation is a minority partner in the project with MCB, which owns 15 million sq. ft. of industrial, office, retail, mixed-use, and multi-family properties. The company reports that it has 4 million sq. ft. of development active in its pipeline.