MCB Real Estate Clears Final Legislative Hurdle for VIVA White Oak, Announces Homebuilding Partnership with Ryan Homes and NVHomes

The Montgomery County Council has approved up to $420 million in Tax Increment Financing (TIF) bonds for VIVA White Oak, clearing the final legislative hurdle for the $2.7 billion mixed-use development. With financing now in place, MCB Real Estate is preparing to begin construction as early as this fall. The firm also announced that Ryan Homes and NVHomes will serve as the homebuilders for the project's residential offering.

"This financing is an affirmation of the power of public private partnership and establishes the foundation for unprecedented economic growth in East County," said P. David Bramble, Co-Founder and Managing Partner of MCB Real Estate. "The true strength of this project's foundation is the vision, leadership, and resilience demonstrated by this community, the entire Montgomery County Council, and elected officials like Councilmember Kristin Mink and County Executive Marc Elrich. Because of their support, Viva White Oak will rise upon this foundation: a mixed-use district and destination unlike anywhere else, with jobs people can build a life on, housing that meets a real and pressing need, and a magnetic community gathering destination."

The bond authorization will fund the public infrastructure, roads, utilities, water and sewer connections, and soil remediation, needed to unlock development of the 280-acre site next to the FDA's White Oak campus and Adventist HealthCare's White Oak Medical Center. Approved for up to 12 million square feet, the project will bring thousands of new residential units, a Costco-anchored retail component with a best-in-class grocer, homes from a national homebuilder, and a 30-acre Innovation Campus for life sciences and biotech tenants to East County. Ryan Homes and NVHomes will bring their homebuilding expertise to VIVA's residential offerings, expanding homeownership opportunities in the community. Once complete, the development is projected to generate over 19,000 construction jobs, over 9,000 permanent jobs, and an estimated $60 million in annual County revenue.

VIVA White Oak sits at the center of one of the region's most concentrated life science and biotech corridors, anchored by its proximity to the FDA's White Oak campus and a growing base of research, healthcare, and innovation employers. That location, paired with the scale of the planned residential and retail components, has drawn strong early interest from retailers and firms looking to establish a presence in East County.

At the heart of the development, the Innovation Campus and Town Center will bring together lab, office, research, and collaboration space alongside retail, dining, and green space, creating a true kaleidoscope of places to live, work, and unwind. With the bond authorization approved, MCB Real Estate and the County will move into closing the bonds over the coming months, with site work expected to begin this fall.

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.