[CPEO-MEF] REUSE: COPT gives Fort Ritchie [MD] back to PenMar Development Corp.

[Lenny Siegel <lsiegel@cpeo.org>]

COPT gives Fort Ritchie back to PenMar Development Corp.
Redevelopment planned by COPT symied by suit

By Stephanie Harbaugh
Waynesboro Record Herald (PA)
July 25, 2012

Cascade, Md. - Corporate Offices Properties Trust - Fort Ritchie’s  
owner since 2006 - has given the 591-acre property back to PenMar  
Development Corp.
PMDC was formed in May 1997 to oversee the redevelopment of the  
property after Fort Ritchie was closed on the recommendation of the  
Base Realignment and Closure Commission.

In 2006, PMDC sold the former Army base to COPT for a total of $9  
million - $5 million paid at the time and $4 million to be paid in 2016.

...

For the entire article, see
http://www.therecordherald.com/news/x688301988/COPT-gives-Fort- 
Ritchie-back-to-PenMar-Development-Corp

--

Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
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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