After placing this 50-acre Frederick property under contract in 2001, our team worked closely with the City of Frederick to draft and approve a new comprehensive Master Plan for the entire city (the second largest city in Maryland), as well as draft and approve an entirely new zoning code. Once the City approved the new Master Plan and mixed-use zoning code, our team closed on the acquisition. Our team’s involvement started with the very complex entitlement exercise and continued through site planning, retail design, and construction of this horizontal mixed-use development, which is now home to 175,000 square feet of retail, 206 single-family homes (built by others), and 205 multi-family units (built by others). Working in tandem with the City of Frederick to help rewrite the Master Plan and the zoning code was the key to this development’s success – and it is the first development built under Frederick’s new mixed-use zoning category.
Mixed-use property with 175,000 square feet of retail and 411 residences
Design, zoning, entitlement, and government approvals of property, and construction of retail portion of property
2008 – 2016
Home Goods, PetSmart, Pier One, Sport & Health
Long-term approach enabled team to best position the project for enhanced value creation upon the market’s uptick