Construction is underway on a $115 million mixed-use development planned for Waldorf, Md., that promises to bring 186 residential units and 120,000 square feet of grocery, restaurant and retail space to the growing community 30 miles south of Washington, D.C.
In a joint venture between Baltimore-based mega-developer MCB Real Estate and Calvert County’s Generation Properties, The Shops at Fairway Village project is expected to support more than 300 jobs, contribute some $1.2 million in local real estate taxes annually and provide housing for nearly 450 residents, the developers said. Construction on the residential portion of the complex is slated to begin early next year, with phase one of the retail development planned to open toward the end of 2025.
Developers said they’ve pre-leased 76 percent of the retail square footage. Among the tenants signed on are mid-Atlantic grocery chain Weis Markets, breakfast restaurant Eggspectation, Hair Cuttery salon, KinderCare Learning Centers, McDonald’s, Heartland Dental and Saleya Nail & Spa.
“This area of Charles County remains under-retailed,” MCB Principal Drew Gorman said at the groundbreaking ceremony, noting the development will bring the first “prototypical” full-size supermarket to the area. “We believe this first wave of tenant signings will draw other retailers and restaurants to join and complement the current shopping mix.”
A once-rural exurb of D.C., the Waldorf area of Charles County is now home to more than 50,000 residents. Gorman also noted the development will help alleviate a growing housing crisis in the area.
“The inclusion of a robust residential component as infill development is a proven strategy to activate the retail center and create elongated dwell times when residences are within walking distance,” Gorman said. “Our company is committed to utilizing every viable tool to tackle and help solve the housing challenge.”
The Shops at Fairway Village was initially conceived as a 300,000-square-foot commercial development, though the plans were downsized to account for market conditions, MCB said in a news release. Along with Generation Properties, the developers assumed control of the property in 2020 and acquired the site in October 2023.
The shopping center is the second project MCB is pursuing in Charles County, along with the $100 million Waldorf Station apartment complex off nearby Route 301 being built in partnership with Greenberg Gibbons.
“We were attracted to Charles County based on its position as the fourth-fastest-growing county in Maryland, and its ranking as the country’s top 40th wealthiest county,” Gorman said. “Charles County has experienced an 11.4 percent population growth over the past 14 years, so providing much-needed housing for this growing population is critical to the continued economic growth of the county.”
Robert Khodadadian has long had a simple philosophy about selling real estate. The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time.
Robert Khodadadian, skyline properties, ground leases, off market, investment sales, Commercial Real Estate, Commercial Observer
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