Public-private project would bring $3 billion life science village to Maryland
- December 14, 2011
Maryland, long known as a leader in the life sciences industry, is on the way to being home to another high-profile project. Montgomery County is teaming up with a local real estate firm, Percontee Inc. in White Oak, to develop a $3 billion, mixed-use life sciences research center adjacent to the headquarters of the Food and Drug Administration.
The county selected Global LifeSci Development Corp., an affiliate of Percontee, as its private-sector development partner after Percontee won a county competition to develop a 115-acre, county-owned site, which used to house a sludge composting facility. The property, known as “Site 2,” is located next door to 185 acres where Percontee had long operated a sand and gravel quarry.
The county wants to combine the two properties to build a 300-acre research/employment center that would include educational facilities, housing, hotel, retail, parks and walking trails. In addition to serving the 130-acre consolidated FDA headquarters, the mixed-use project would be close to the area where Adventist HealthCare plans to relocate Washington Adventist Hospital. That project, which includes 249 beds, is still awaiting state approval.
In announcing the project, Montgomery County Executive Isiah Leggett said in a statement, “Global LifeSci Development Corp. brings all the elements you could ask for to the table as the county’s private-sector development partner – a long-standing history of local and regional development, strong financial footing to support necessary investment in the project and, most importantly, a real understanding of and concern for the residents, neighborhoods and communities that make up the East County.”
The project would develop one of the last, large parcels in Montgomery. The land is located off Rt. 29 and Industrial Parkway. The county plans to work with Global LifeSci over the coming months to determine a timeline and to complete a master pan of development for the White Oak area.