[CPEO-IRF] Ft. Ritchie (MD) land acquisition

[Lenny Siegel <lsiegel@cpeo.org>]

Corporate Office Acquires Land for $300M Military Base Redevelopment

By Adam Perrotta
Commercial Property News
October 6, 2006

Corporate Office Properties Trust has closed on the purchase of 500 
acres of the 591-acre former Fort Ritchie U.S. Army Base in Cascade, Md. 
The remainder of the property is expected to close in spring 2007. The 
$5 million purchase price was adjusted pro rata for the property holdback.

The acquisition of the parcel--located near the Pennsylvania border--is 
a major step forward in COPT's $300 million redevelopment project 
planned for the base (pictured). The proposed development includes 1.7 
million square feet of office space, 673 residential units including a 
mix of apartment, duplex, condominium, townhouse and single-family 
units. The Fort Ritchie site will be developed over a 10 to 15 year period.

...

For the entire article, see
http://www.cpnonline.com/cpn/property_type/article_display.jsp?vnu_content_id=1003221677

--


Lenny Siegel
Director, Center for Public Environmental Oversight
c/o PSC, 278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org


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