The Baltimore-based developers behind the 280-acre Viva White Oak development in eastern Montgomery County hope to break ground on the mixed-use project as soon as this fall, according to MCB Real Estate Senior Vice President and Project Executive Theresa Stegman.
In an interview on Thursday with Bethesda Today, Stegman said that the next steps for the project include a public hearing at the Montgomery County Council on Tuesday afternoon regarding a proposal to issue county bonds to the developer.
The bond authorization is a “really critical piece” for the project to move forward, Stegman said.
According to a council staff report, with the bond authorization, MCB Real Estate could receive up to $420 million in county bonds for the project. These bonds are intended to support the construction of public infrastructure needed for the development, such as new water mains, sewer lines and roads.
Click here to read the rest of the article written by John Gonzalez over at Bethesda Today
