MCB Real Estate Celebrates Signing of Bill to Unlock $420 Million in Bonds for 280-Acre VIVA White Oak Development

MCB Real Estate, an institutional commercial real estate investment management firm and developer with nationwide holdings, is excited to announce the official signing of landmark legislation authorizing up to $420 million in Tax Increment Financing (TIF) for VIVA White Oak. With members of the MCB team in attendance, Montgomery County Executive Marc Elrich signed Expedited Bill 31-26 into law on August 28, 2026, following unanimous council approval last month. This establishes the county's first ever TIF district and allows MCB Real Estate to begin construction of the $2.7 billion, 280-acre mixed-use development.

The $420 million in bonds will be utilized to build crucial public infrastructure. A TIF allows for the bonds to be repaid through new property tax revenues generated by the new development as property values grow. The public funds cover soil remediation, new connector roads, water and sewer lines, utility extensions, and site access improvements. Site work will move forward immediately, with an official groundbreaking scheduled for later this year.

"We appreciate County Executive Elrich and the Montgomery County Council for recognizing the vast potential of VIVA White Oak," said MCB Co-Founder and Managing Partner, P. David Bramble. "This development marks a major turning point for Eastern Montgomery County and unlocks nearly unlimited potential. Our team is ready to execute on this momentum, bringing deep financial resources, premier retail, quality housing, and long-term career growth to this part of Maryland."

VIVA White Oak is a massive mixed-use community that, when finished, will span 12.1 million square feet of commercial residential, retail, medical office, and public space. The plan includes up to 4,700 residential units and more than three million square feet of laboratory, medical office, traditional office, and retail space. The first phase features a Costco, a town center with an anchor grocery store, medical office, over 1,000 new townhomes, and three major apartment buildings totaling over 1,000 units. At full completion, the project will generate 19,000 construction jobs, 9,000 permanent positions, and over $21 million in annual county revenue.

Located next to the U.S. Food and Drug Administration headquarters and Adventist HealthCare White Oak Medical Center, VIVA White Oak anchors a major economic corridor. The development fulfills the vision of the White Oak Science Gateway Master Plan by integrating housing, life sciences research, healthcare, and neighborhood retail into one connected community. MCB Real Estate leads the development effort to deliver long-term value, community access, and economic growth across the region.

About VIVA White Oak
VIVA White Oak is a 280-acre, $2.7 billion mixed-use development being developed by MCB Real Estate, located adjacent to the FDA's White Oak campus and Adventist HealthCare's White Oak Medical Center in Silver Spring, Maryland. Approved for up to 12 million square feet, the project will include new residential units, retail anchored by Costco and an organic grocer, and life sciences and commercial space.
vivawhiteoak.com

About MCB Real Estate
Founded in 2007, MCB Real Estate is a community-centric, privately held national commercial real estate investment management and development firm headquartered in Baltimore, Maryland. MCB boasts a nationwide portfolio of $4 billion in assets under management, totaling approximately 22 million square feet, with almost six million square feet in its development pipeline. Property types include industrial, office, retail, mixed-use, multi-family, and healthcare. The firm offers a seamlessly integrated suite of commercial real estate investment services, including acquisitions, development, construction, asset management, property management, leasing, marketing, financing, and legal expertise, ensuring comprehensive support throughout every stage of an asset's lifecycle.
www.mcbrealestate.com