Latest news with #MCBRealEstate
Yahoo
15-05-2025
- Business
- Yahoo
Montgomery County announces $2.8 billion investment for East County's Viva White Oak
SILVER SPRING, Md. () — Montgomery County announced its first-ever Tax Increment Financing (TIF) proposal to support . The $2.8 billion mixed-use development project aims to transform East County with new jobs, housing, and infrastructure. MoCo Minute | AstraZeneca opens $300M cell therapy facility in Rockville In partnership with MCB Real Estate, the project will span 280 acres near the U.S. Food and Drug Administration campus. Once complete, Viva White Oak is expected to deliver more than 9,000 permanent jobs, nearly 5,000 homes, and 27,000 construction jobs. Plans include commercial, residential, retail, and public spaces, along with new parks, bike lanes, and water and sewer infrastructure. 'At the Viva White Oak property, we have an excellent development team coming to the County with a plan to get shovels in the ground and open up the new chapter in economic development that District 5 residents have been waiting for. I have seen firsthand the high value that MCB places on community engagement and local collaboration, and I look forward to taking the next step to bring this opportunity to fruition,' said Councilmember Kristin Mink. Officials noted that once the project is complete, it will generate about $62 million in annual county revenue. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
CBS News
29-04-2025
- Business
- CBS News
Inner Harbor Intersection Improvement project to address pedestrian safety, accessibility
Baltimore Mayor Brandon Scott announced an Inner Harbor intersection improvement project that will enhance pedestrian safety and accessibility along parts of Pratt Street. The plan is to upgrade roadway crossings and Americans with Disabilities Act-compliant pedestrian ramps. The three intersections getting an upgrade are where Pratt Street meets Light, Calvert, and President streets. The project is set to begin in mid-May and will last for about nine months. Baltimore City leaders say this project has been a long time coming. "This intersection improvement project along Pratt Street will contribute to a more accessible and inviting downtown environment that aligns with Baltimore's broader vision for safe urban mobility," said Mayor Scott. "Significant change is happening across downtown — including the reimagining of Harborplace and the investments driven by our Downtown Rise program. To meet this moment, my administration is committed to building a Downtown that is thriving, safe, and prioritizes the pedestrian experience to welcome residents and visitors alike every single day." According to Baltimore City, some of the upgrades include: High visibility "continental style" crosswalks for pedestrians. ADA-compliant pedestrian ramps. Countdown pedestrian signals. Accessible pedestrian signals. Installation of bicycle and pedestrian way-finding signage. Construction of new conduits to support pedestrian signal upgrades. Harborplace redevelopment plan The Inner Harbor redevelopment will also include a revamped Harborplace. Gensler, a global architecture and design firm, was assigned to lead the design team for the Harborplace Master Plan, which was approved by Baltimore voters in November 2024. MCB Real Estate, led by David Bramble, plans to replace the mostly vacant pavilions at the Inner Harbor with a mixed-use complex including a park, residential buildings, and retail space, with an estimated cost of around $1 billion. The proposed redevelopment would create a 4.5-acre space with restaurants, commercial uses, multifamily residential development, and off-street parking. Harborplace opened in July 1980, serving as one of the first waterfront malls of its kind. It initially became a national model for urban renewal. However, by the 2010s, the complex fell into decline under New York-based Ashkenazy Acquisitions, which acquired it in 2012. By 2019, the property entered court-ordered receivership due to Ashkenazy's loan defaults and failure to maintain the site.
CBS News
03-04-2025
- Business
- CBS News
MCB Real Estate announces design team for Harborplace redevelopment project
Gensler Baltimore will lead the design team for the Harborplace redevelopment project, MCB Real Estate announced Thursday. Gensler, a global architecture and design firm, will lead the design team implementing the Harborplace Master Plan, which was approved by Baltimore voters last November with over 60% support. The team includes landscape architects Hoerr Schaudt of Chicago and Baltimore-based firms Floura Teeter, Mahan Rykiel Associates, STV, and The Whiting-Turner Contracting Company. Harborplace opened in July 1980, serving as one of the first waterfront malls of its kind. Developed by The Rouse Company, it initially thrived with local businesses and became a national model for urban renewal. However, by the 2010s, the complex fell into decline under New York-based Ashkenazy Acquisitions, which acquired it in 2012. By 2019, the property entered court-ordered receivership due to Ashkenazy's loan defaults and failure to maintain the site. In 2022 , Baltimore-based MCB Real Estate acquired Harborplace through a court-approved deal, pledging to revitalize the struggling complex. The developer, MCB Real Estate led by David Bramble, plans to replace the mostly vacant pavilions at the Inner Harbor with a mixed-use complex including a park, residential buildings, and retail space, with an estimated cost of around $1 billion . The proposed redevelopment would create a 4.5-acre space with restaurants, commercial uses, multifamily residential development, and off-street parking. News of the redevelopment project was met with mixed reactions from the public, however. Former Baltimore Mayor and Maryland Governor Martin O'Malley opposed the redevelopment , calling the project "a terrible developer grab of public waterfront parkland." Some residents expressed concerns about "unlimited height, unlimited use, unlimited residential" and that the plan "was just handed to one developer."
