A long-planned, $3B life sciences town center project in Montgomery County may not get off the ground after all.
A public-private partnership led by Percontee is set to oversee the development of Viva White Oak, which would combine 115 acres of Montgomery County land with 185 acres controlled by Percontee affiliate Global LifeSci. The two sides are still trying to hammer out a general development agreement, and Percontee is eyeing a deadline of April 28, the Washington Business Journal reports.
Numerous drafts of the agreement have traded hands, but the county appears to be looking for a deal that has more firm deadlines in place. Viva White Oak would be north of the Food and Drug Administration consolidated campus and south of the proposed Washington Adventist Hospital site.
At full build-out, the total project is expected to include over 5,000 residential units and about 7M SF of non-residential development. Project backers expect the development to become a desirable destination for businesses in the sectors of health, life sciences and tech. Now it's just a matter of whether it happens or not. [WBJ]
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