Montgomery County, Percontee Plan $3B LifeSci Village
- Dec 16, 2011
Last week, Montgomery County partnered with local developer Percontee Inc. to redevelop 300 acres in White Oak. Site 2, a former Washington Suburban Sanitary Commission sludge processing facility, will become LifeSci Village, a mixed-use campus designed to complement the Food and Drug Administration headquarters and the future Washington Adventist Hospital.
To be developed by Global LifeSci Development Corp., an affiliate of Percontee, the project is estimated to cost $3 billion. The 115-acre county-owned Site 2 will be combined with a 185-acre Percontee-owned sand-and-gravel processing facility immediately to the southeast. Located on Cherry Hill Road east of Route 29, the site is also adjacent to the 130-acre consolidated headquarters of the Food and Drug Administration and the anticipated new Washington Adventist Hospital.
The entire area is roughly the size of downtown Silver Spring. LifeSci Village may include almost 2 million square feet of offices and research labs; 2 million additional square feet of shops, hotels and possibly a conference center; and between 3,000 and 4,000 apartments and townhomes.
Montgomery County has owned Site 2 since January 2009, when it purchased the property for roughly $10 million. Already seven years in the making, it may still take a couple of years before the construction of the $3 billion mini-city starts. Percontee will use this time to better define its vision of the site and also talk with potential tenants, since LifeSci Village is important to the entire area, providing economic growth–if it can attract a major research institution.
Percontee, formerly Contee Sand & Gravel Inc., has been owned and operated by the Gudelsky family since 1913. It is a diversified company with ongoing operations in: trucking, sand, gravel and rubble recycling. It has worked on projects in Tysons Corner, Silver Spring and Wheaton.