County’s First Use of Tax Increment Financing Will Support Infrastructure for Largest Private Investment in History of Eastern Montgomery County; First Phase Will Bring Housing, Retail, Grocery, and Costco
Montgomery County Executive Marc Elrich was joined by Council President Natali Fani- González, and other councilmembers today for the ceremonial signing of legislation authorizing up to $420 million in bonds for the estimated $2.7 billion VIVA White Oak development, clearing a major financial hurdle for the long-awaited transformation of 294 acres in Eastern Montgomery County.
The Montgomery County Council unanimously approved Expedited Bill 31-26, Bond Authorization – VIVA White Oak Development District, on July 28. The legislation authorizes the County’s first use of Tax Increment Financing (TIF) to fund public infrastructure necessary to advance the project.
Once completed, Viva White Oak is expected to have over 4,400 residences, more than 3 million square feet of laboratory, office, medical-office space, and retail, as well as public amenities.
“This is a project that has been discussed and planned for a long time, and now we are getting to the point where people will actually begin seeing it take shape,” said County Executive Elrich. “VIVA White Oak will bring thousands of homes, good jobs, restaurants, stores, and other amenities to an area of the County that has needed this level of investment for decades. We found a financing approach that allows us to build the infrastructure needed to make this development possible while using the new tax revenue generated by the project to repay the bonds. I appreciate the Council, our State partners, MCB, and especially the East County residents who kept pushing to get us to this point.”
In May 2025, MCB Real Estate was identified by Montgomery County as a partner in the project.
“I want to thank County Executive Elrich and the entire Montgomery County Council for their vision to see what VIVA White Oak can be,” said P. David Bramble, Co-Founder and Managing Partner of MCB Real Estate. “This project will be a game changer for East County and these communities that have been overlooked for far too long. We are excited to get to work to bring real and deep investment to this area, bring in high-quality retail, new jobs, and quality residential to this part of Maryland.”
At full buildout, the project is expected to generate approximately 9,000 permanent jobs, 19,000 construction jobs, and an estimated $21 million in annual county revenue starting in 2033 and growing in the out-years.
“This project brings promise and long-awaited opportunity to the White Oak community,” said Council President Fani-González. “The major investment contributes toward our housing production goals and creates a vibrant town center for our beautiful community to enjoy.”
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The project represents a major milestone for East County that many feel is long overdue.
“East County residents have demanded equitable public and private investment on our side of the County for years, and Viva White Oak represents a huge step forward to meet those demands,” said Councilmember Kristin Mink. “The innovative financing plan signed today will allow our development partners to bring the high-quality employment, housing, and retail amenities that were envisioned in the master plan for this area over a decade ago.”
The project represents an estimated $2.7 billion in private investment in East County.
“Viva White Oak demonstrates the County’s continued commitment to supporting growth and investment in Montgomery County,” said Jared Smith, President & CEO of the Montgomery County Economic Development Corporation (MCEDC). “The County’s first TIF gives us another important tool to compete for investment, attract businesses, and create jobs. Montgomery County has tremendous assets and opportunities, and using tools like this strategically will help us translate those strengths into long-term economic growth.”
VIVA White Oak by the Numbers
The scale of the VIVA White Oak development includes:
- 294 acres of land in the development district.
- 12.1 million square feet of commercial, residential, retail, and public space.
- More than 4,400 residential units.
- Approximately 19,000 construction jobs over the course of development.
- Approximately 9,000 permanent jobs when completed.
- Up to $420 million in County TIF bonds authorized to support public infrastructure.
- An estimated $2.8 billion in private investment.
- More than $21 million in projected annual County revenue beginning in 2033, with revenues expected to grow in subsequent years.
- Phase One completion expected by 2033, with full development anticipated by 2044.
The first phase is planned to include a Costco, a 400-unit apartment building, a 600-unit apartment building, townhomes, and a town center featuring retail and an anchor grocery store.
The development is located near two of East County’s largest economic anchors—the U.S. Food and Drug Administration headquarters and Adventist HealthCare White Oak Medical Center.
“The East County community is very happy about the initial financing for the Viva White Oak Project after decades of neglect,” said Dan Wilhelm, a Fairland resident and member of the East County Citizens Advisory Board, Labquest, and the Greater Colesville Citizens Association. “This long-awaited development will greatly transform Eastern Montgomery County into a dynamic economic powerhouse.”
Investing in the Infrastructure Needed for Growth
The $420 million bond authorization will finance public infrastructure needed to develop the site, including soil remediation, connector roads, water and sewer infrastructure, utility connections, and other improvements.
Tax Increment Financing allows the County to finance those improvements using a portion of the future increase in property tax revenues generated by development within the designated VIVA White Oak Development District.
As homes, businesses, and other developments add taxable value within the district, a portion of that new revenue will be used to repay the bonds. The financing structure means repayment of the TIF bonds will come from new revenues generated by the development rather than competing with General Fund resources used for other County programs and services.
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Earlier this year, the County Council approved creation of the VIVA White Oak Development District, establishing the framework necessary for the County’s first TIF. The bond authorization represents the next major step in putting that financing into place.
The first round of financing is expected to begin later this year.
Bringing Jobs and Housing Together
VIVA White Oak is a central component of the White Oak Science Gateway Master Plan, which was approved and adopted in 2014 to encourage new housing, employment, research, commercial development and other investment in eastern Montgomery County.
The project’s location near the FDA headquarters and Adventist HealthCare White Oak Medical Center also creates an opportunity to build on existing employment centers while adding housing, services and new businesses.
VIVA White Oak is expected to include medical offices and life sciences facilities in addition to housing and retail, creating opportunities to expand the County’s life sciences economy around the FDA campus.
Building on East County Investment
VIVA White Oak is part of a broader series of public and private investments underway in East County.
Those investments include:
- Adventist HealthCare White Oak Medical Center, which opened in 2019 with 230 private patient rooms and approximately 1,900 permanent jobs.
- Montgomery College East County Education Center, which opened in 2024 and served approximately 1,400 students during its first year, exceeding its initial projection of 1,000 students.
- Hillandale Gateway, a major mixed-use development being advanced with the Housing Opportunities Commission of Montgomery County that will include significant affordable housing and will be completed in 2027.
- White Oak Town Center, which has brought new commercial development to the U.S. 29 corridor.
- New residential development, including the Logic Apartments and hundreds of additional housing units.
The State of Maryland has also supported VIVA White Oak. In August 2025, Gov. Wes Moore approved $4 million in State funding to support affordable housing at the development.
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Read the original article at mcgov
