News Article

COPT plotting $1B development in White Marsh


(12/31/2009) Corporate Office Properties Trust wants to build an 88-acre, $1 billion development in White Marsh that would bring more than 1,200 new homes and 1.2 million square feet of office space to the area.

The Columbia developer’s ambitions for Nottingham Ridge are substantially larger than what was envisioned by Nottingham Properties Inc., which sold the undeveloped land to COPT in a larger $362.5 million portfolio sale in December 2006.

Representatives from COPT (NYSE:OFC) could not immediately be reached for comment.

The county planning board will meet Jan. 7 to discuss a Planned Unit Development application submitted by COPT which would allow the developer to build more than what would otherwise be allowed under the property’s current zoning.

“It’s a substantial project and probably, without a doubt, the biggest one that I have seen in my tenure on the planning board,” Baltimore County Planning Board Chairman Edward J. Gilliss said in a telephone interview.

If approved, COPT plans for the site off Philadelphia Road and White Marsh Boulevard call for 1,250 rental and for-sale homes, 1.2 million square feet of office space, two hotels, three parking garages and about 400,000 square feet of restaurant and retail space.

The first phase of development, which could begin in 2010, would include a 75,000-square-foot office building, 123,500 square feet of retail space, a hotel with up to 150 rooms, as many as 500 residential units, and 2,400 parking spaces, according to Baltimore County planning documents.

Previously, Nottingham Properties planned to convert the former surface mine into a business park with 650,000 square feet of office space, a putting green and volleyball court enclosed by a jogging trail surrounding the property.

The Towson-based developer never moved forward with those plans, and the company spun off most of its office and industrial properties to COPT and First Industrial Realty Trust. Nottingham Properties retained some land, including property adjacent to Ripken Stadium in Harford County where it is planning to build an office park.

Gilliss said there are a number of issues the planning board will need to consider, including whether COPT has incorporated enough community upgrades into its project for the surrounding neighborhood to benefit from. The developer has committed to building LEED silver office buildings, which Gilliss said constitutes a community benefit required by county law. But at a hearing last month, some residents said they would like to see COPT do more, such as setting aside land for a community park or walking trail.

“That’s a matter that the planning board deserves to have a discussion about and weigh in on,” Gilliss said.

Planning board member Paul Miller said his board will need to strike a balance between the impact the project would have on the community with the economic development gains the county stands to receive if the development moves forward. He said he has not decided yet whether he is in favor of the project.

“It’s awful big, and I’m not sure how valuable the so-called community benefits are to the surrounding community,” he said. “I know we need economic development in the community, and I know the state and the county like the tax base, but I’m not sure.”

By Daniel J. Sernovitz, Staff

© 2009 American City Business Journals, Inc. and its licensors.

Link to the article: COPT plotting $1B development in White Marsh

Source: Baltimore Business Journal