The long-awaited Viva White Oak Project may soon move forward due to a new proposal by the county.
The 280-acre project adjacent to the U.S. Food and Drug Administration campus is expected to house commercial, residential, retail and public space. According to county officials, it will generate more than 17,000 construction jobs, 9,000 permanent jobs and an estimated $62 million in annual county revenue once it is completed.
Included in the development plans are nearly 5,000 apartments and for-sale units, along with new retail, hotel and medical office space. There is room for a new elementary school.
Montgomery County announced its first Tax Increment Financing (TIF) proposal designed to support a $2.8 billion Viva White Oak mixed use development project.
TIFs are financing tools that use property tax revenues from new development in the area to fund public infrastructure. Montgomery County can use these funds without impacting existing county resources or services. It will not affect the county’s general fund or bond rating, according to a county news release.
This financing proposal must gain the approval of the county council. The plan is expected to be introduced before the council by the end of this month.
“Development at this site has languished for years and I’m happy that we are finally moving it forward,” said County Executive Marc Elrich in a news release.
“This deal represents a real investment in East County, an area that has waited far too long for this kind of attention and opportunity. I want to thank MCB Real Estate for stepping up as a true partner and working with us to unlock the potential of this site. This is what it looks like when we align economic growth with community needs—jobs, housing, infrastructure and green space all in one place”
MCB entered into contract on the Viva White Oak property in 2023.
MCP Real Estate Managing Partner and Founder P. David Branble said, “We are so pleased to be partnering with the County to bring about generational change to communities that have been ignored and leverage the broad assets of this corridor for the benefit of Montgomery County and the entire State.”
“The East County community deserves quality retail, quality housing, and public amenities that serve East County residents and serve as destinations for others,” said Councilmember Kristin Mink, who represents that district.
“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,” she said.
According to county officials, an independent analysis conducted by Municap determined that the total assessed value of the Viva White Oak project once completed will be $2.8 billion. The analysis supports the potential to generate up to $320 million in net proceeds for public infrastructure improvements. The current plan will include new roads, sidewalks, trails and bike lanes, and water and sewer infrastructure, according to county officials.
“The Greater Silver Spring Chamber of Commerce has been waiting for Viva White Oak for over a decade,” noted Stephanie Helsing, chamber president & CEO.
