Costco will be moving into Viva White Oak Development District, a $2.8 billion project with a two year plus timeline for completion.
Viva White Oak will be located adjacent to the U.S. Food and Drug Administration campus on 294 acres by Cherry Hill Road and Route 29. It is expected to house commercial, residential, retail and public space as well as a life science center. There is a site set aside for a future elementary school.
MCB Real Estate announced a 162,000 square foot Costco will be “the first official anchor” at the mixed-use district. This would be the fourth Costco in a 10-mile radius.
“This announcement shows that national retailers and regional anchors, and high performing restaurants know the value of this location and that this project is a smart investment for long-term value,” said MCB Principal Drew Gorman in a news release.
When completed and filled, Viva White Oak is expected to generate $62 million in revenue annually for Montgomery County.
