MCB Real Estate announced today that a new Costco Wholesale store is planned for the VIVA White Oak development.
The proposed warehouse will be approximately 162,000 square feet and will serve as the first major retail anchor for the 280-acre mixed-use project. According to MCB, the addition of Costco reflects strong retail interest in the site, which is located near the U.S. Food and Drug Administration headquarters and Adventist HealthCare White Oak Medical Center with access to U.S. 29 and Cherry Hill Road.
The broader VIVA White Oak project is approved for more than 12 million square feet of mixed-use development and is expected to include housing, retail, hotel, and medical office space, as well as land reserved for a new elementary school, parks, bike lanes, and trails. Developers say the project could generate more than 17,000 construction jobs, about 9,000 permanent jobs, and tens of millions of dollars in annual revenue for Montgomery County.
The Montgomery County Council recently approved the first-ever Tax Increment Financing (TIF) resolution to establish the Viva White Oak Development District, a key step in advancing the $2.8 billion project. The financing mechanism allows future property tax revenue generated within the development to fund major infrastructure improvements tied to the project, including roads, sidewalks, trails, bike lanes, and water and sewer upgrades. County officials say the project could generate up to $320 million for public infrastructure over time while helping transform the long-underutilized site into a major residential, retail, and employment hub in East County.
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