Construction is underway on Bel Air Village, a 35-acre mixed-use community in Bel Air that will consist of more than 115,000 square feet of commercial office space, 252 multifamily units and 24 townhomes, and represents the last major development parcel remaining in the MD Route 24 corridor.
Developed by Baltimore-based ARLS Properties, LLC, the initial phase of the project is expected to be delivered in late 2023. MacKenzie Commercial Real Estate Services, LLC has been selected to oversee all retail leasing activities, with Vice President Sean Langford, and Executive Vice President and Principal Tom Fidler handling the requirement on behalf of the brokerage firm.
Bel Air Village features roadside visibility and access to both MD Route 24 (Veterans Memorial Highway) and Emmorton Road and is adjacent to Festival at Bel Air. More than 43,000 vehicles pass the site on a daily basis via MD Route 24, with an additional 20,000 driving by each day using Emmorton Road. Downtown Bel Air is approximately three miles away and Aberdeen Proving Ground, with more than 7,500 civilians and 5,000 military personnel on-site is less than 15 miles away.
The retail component will consist of four free-standing buildings, ranging from approximately 7,000 to nearly 11,000 square feet of space, as well as five pad sites ranging from one to two acres that each front on Emmorton Road. The multifamily product will be the first real estate asset class to be constructed at Bel Air Village, with the construction of a four-story building containing approximately 50 rental units. The additional multifamily buildings will be built next year.
Nearly 25,000 households, with an annual average income approaching $125,000, are contained within a five-mile radius of Bel Air Village and the daytime population is nearly 67,000 people.
According to information from Harford County Economic Development, more than 260,000 people live in Harford County and the unemployment rate is less than 4%. The median household income for Harford County is more than $94,000 and the media age of its residents is less than 40 years of age.